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Nigeria needs renewable energy investment

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By Abraham Adekunle

House of Reps stressed the urgent need to make policies to draw investment.

In a compelling address, Tajudeen Abbas, the distinguished Speaker of the House of Representatives, highlighted the urgent need for the nation to embrace policies that propel investments in renewable energy. Speaking eloquently on January 3rd, 2023 during the inauguration of a study center at the National Open University of Nigeria (NOUN) and a 484-bed hall of residence at the University of Lagos, Abbas underscored the imperative of aligning with global shifts toward cleaner and more sustainable energy sources. “As the world rapidly transitions from traditional energy sources to cleaner alternatives, our nation must follow suit,” Abbas declared.

Recognizing the prevailing dominance of the oil and gas sector in government revenue and exports, he cautioned that the global energy shift could adversely impact Nigeria’s GDP. The Speaker emphasized the necessity for strategic policies encouraging investment in renewable energy, agriculture, solid minerals, and intellectual capital. In his astute assessment, Abbas celebrated Nigeria’s youthful population as a wellspring of innovation and creativity. He emphasized the imperative of harnessing this potential through policies that foster education, research, and development.

Abbas emphasized the importance of constituency projects.

The Speaker urged a pivot towards initiatives that facilitate the application of knowledge in industrial, technological, and economic activities. Highlighting the pivotal role of a knowledge-driven economy, Abbas articulated, “A knowledge-driven economy can better capitalize on intellectual capabilities rather than natural resources or physical inputs. It is an economy where knowledge is a key engine of growth, innovation, and job creation.” This vision aligns with the transformative journey he envisions for Nigeria, where the legislature plays a critical role in steering the nation toward sustainable development.

Turning his attention to the projects facilitated by Femi Gbajabiamila during his tenure as a member of the House of Representatives, Abbas emphasized the significance of constituency projects in a functioning democracy. He described these projects as critical components, funded through the government budget, intended to address the needs and improve the conditions of constituents. Contrary to widespread misconceptions, Abbas clarified that constituency projects are not mere line items in a budget; they are the lifelines connecting the heart of the government to the pulse of communities.

Speaker Abbas sees a future propelled by this.

“Constituency projects,” the speaker asserted, “are not just infrastructure; they are the embodiment of participatory governance.” This approach ensures that local communities actively participate in the decision-making process, fostering trust, confidence, and a sense of ownership among the people. In acknowledging the impact of these projects on the people, Abbas asserted, “For many Nigerians, especially those at the grassroots, it is through constituency projects that they see the most direct and tangible manifestation of government and democracy.”

He called for a deeper understanding of the purpose and essence of these legislative interventions, emphasizing their role in building not only physical infrastructure but also the intangible foundations of a strong and vibrant democracy. As the leader of the House of Representatives, Speaker Tajudeen Abbas articulated a comprehensive vision for Nigeria’s future—with a future powered by renewable energy, propelled by a knowledge-driven economy, and built upon the participatory foundations of constituency projects. His call for strategic policies and investments reflects a deep commitment to steering the nation toward sustainable development and ensuring that every citizen experiences the tangible benefits of governance.

Related Article: World Bank approves $750M for clean energy

Meanwhile, as of the latest reports, Nigeria is actively seeking to enhance its renewable energy landscape, recognizing the imperative of transitioning towards cleaner and sustainable power sources. While the nation has traditionally depended on the oil and gas sector for a substantial portion of its revenue, there is a growing acknowledgment, especially among key policymakers like Speaker Tajudeen Abbas, of the need to diversify and invest in renewable energy. Various initiatives and policies are being explored to harness Nigeria’s abundant solar, wind, and hydro resources. Despite challenges such as infrastructure limitations and funding constraints, the commitment to fostering a robust renewable energy sector signals a positive shift toward a greener and more resilient energy future for the country.

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1 month ago

Nigeria needs renewable energy investment.House of Reps stressed the urgent need to make policies to draw investment. – Express your point of view.

Adeoye Adegoke
1 month ago

Nigeria indeed needs increased investment in renewable energy. With the House of Representatives stressing the urgency of developing policies to attract investment, it’s clear that renewable energy can play a crucial role in addressing our energy needs while also promoting sustainability. Investing in renewable energy sources such as solar, wind, and hydroelectric power can help reduce our reliance on fossil fuels, mitigate climate change, and create new job opportunities in the clean energy sector. By implementing supportive policies and attracting investments, Nigeria can unlock the potential of renewable energy and move towards a more sustainable and environmentally friendly future.

Last edited 1 month ago by Adeoye Adegoke
1 month ago

Investment in green energy is necessary for Nigeria. House of Representatives emphasized the pressing necessity to develop investment-attracting measures.Our commitment to renewable energy must truly be unwavering. In order to assist raise the necessary finances for the deployment of renewable energy, we should attract additional investors.

1 month ago

the House of Representatives understands how critical it is to develop laws that will encourage investment in this field is wonderful to hear. Along with providing the nation with inexpensive and sustainable energy alternatives, renewable energy also aids in the fight against climate change.

1 month ago

Speaker Abbas’s call for renewable energy investments resonates with our collective aspiration for a sustainable and diversified future. Recognizing the potential impact on our GDP, his emphasis on policies supporting innovation and education aligns with our desire for growth and progress. The commitment to renewable energy signals a positive shift toward a greener and resilient Nigeria, reflecting a shared vision for sustainable development.