The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, called for increased investment in renewable energy, saying the country required 50,000 Megawatts of electricity to drive economic development.
Kachikwu, who gave the figure while speaking at a seminar organised by the Petroleum Technology Development Fund (PTDF), in conjunction with the management of Cranfield University, London said Nigeria’s economy cannot grow with present energy crises.
Kachikwu represented by Director of Gas, Ministry of Petroleum Resources, Alhaji Yahaya Kurfi,maintained that the country’s economic development would have reached a giant stride, if about 20,000 Mega Watts of electricity was generated from renewable energy sources.
He lamented the fact that the country had not been able to make any local contribution to the Ethanol blending project, which was aimed at reducing energy emission from fossils fuel.
He also emphasised the need for capacity building to enable Nigerians identify, explore and manage the renewable options as nature had blessed the country with varieties of renewable energy resources.
Meanwhile, the Nigerian Electricity Regulatory Commission (NERC) has said that power supply through the national grid which peaked to 5000mw in past two weeks had dropped below 2,800mw due to vandalism.
Dr. Anthony Akah, the Acting Chief Executive Officer of the commission disclosed this while signing a Memorandum of Understanding with the Consumer Protection Council (CPC).
Akah expressed dissatisfaction and worries over the spate of vandalism in the power sector. He therefore enjoined the public and the CPC to collaborate with Distribution Companies (DISCOs) and security agencies to safeguard electrical installations.
He also noted that the NERC would soon compel the DISCOs to publish their meter deployment schedules. It added that the publication would ensure adherence to the meter roll out plan contained in the performance agreement signed with government by the utility firms.