The Hon. Minister of Power, Works and Housing, Mr Babatunde Fashola, in a keynote address presented at the energy focused “Africa Today Summit”, has reiterated the federal government’s commitment to pursuing renewable and low carbon energy at low cost to a logical conclusion in the near future, Leadership reports.
According to the Minister, the commitment stands firm on the tripod of necessity, contract, and policy. Explaining the concept of necessity, Fashola said as a nation whose energy source has been 85% gas fired and 15% hydro, Nigeria has always experienced shortage when there is any issue in the upstream sector of the oil and gas industry, thus necessitating the need to diversify the energy source as evident in the energy mix programme of the federal government.
On the issue of contract, Fashola noted that Nigeria is one of the early signatories to the Paris Climate Change Agreement, whose signatories were committed to low carbon energy sources as a contribution to helping the global community protect our climate.
He equally noted that the commitment is driven by policy embedded in the Economic Recovery and Growth Plan (ERGP), where one of the 5 pillars is energy sufficiency in power and petroleum products. The Minister said that even as attention is on growing the grid, off-grid power is also being encouraged, through mini grid regulations among others.
Source: Energy Mix Report