UNDP Consultant Urges FG to Prioritize Renewable Energy Development

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A United Nations Development Programme (UNDP) senior consultant, Prof. Emmanuel Oladipo, while delivering his paper on derisking renewable energy’s nationally appropriate mitigation action (NAMA) for the Nigerian power sector recently, said developing countries needed about $250 – $270 billion to be able to increase their renewable energy source to up to 20% and urged the government to critically look at the (UNDP) Global Environment Facility (GEF) -supported project on promoting low carbon energy solutions in Nigeria’s energy/power sector.

“UNDESA has estimated that it would cost up to $250-270 billion per year to shift developing countries to 20 percent renewable energy by 2025 to meet the combined challenges of energy access, energy security and climate change and if the Federal Government of Nigeria wants to increase its renewable energy path of the energy production, it needs a lot of money. The actual cost of Nigeria will run into billions of naira.

“So, I hope the federal government will look at this project critically and ensure that it is properly implemented, give it the necessary support through the Ministry of Environment and Energy Commission of Nigeria (ECN) and ensure that we’re able to see all the opportunities that can be accrued towards making renewable energy a major source of energy in Nigeria within one or two years of this project,” he stated.

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