The minister highlighted that this transition would not only lead to a reduction in carbon emissions but also stimulate economic growth and create opportunities for job creation.
Organized by Informa Markets and attended by stakeholders from the public and private sectors, the conference aimed to address key challenges facing the development of Nigeria's power sector. Minister Adebayo Adelabu's statement, shared on Thursday, underscored the importance of diversifying the country's energy sources for a sustainable and prosperous future.
Citing the need to address gaps in Nigeria's energy infrastructure, Minister Adelabu stressed the imperative to invest in metering technology. He highlighted that currently, there are over eight million metering gaps across the country, which need to be reduced or eliminated. The minister urged the adoption of innovative technology to monitor connections and ensure a collection rate of not less than 90 percent, promoting efficient energy management and revenue generation.
Renewable energy sources like solar, hydro, and wind offer tremendous potential to meet Nigeria's energy demands while reducing the reliance on carbon-intensive resources. By embracing these alternatives, the country can enhance its energy security, mitigate the impact of climate change, and simultaneously drive economic growth and job creation.
The minister's statement aligns with the global shift towards sustainable development and reinforces Nigeria's commitment to the United Nations' Sustainable Development Goals. Investing in renewable energy infrastructure will not only reduce environmental pollution but also unleash untapped economic opportunities in the energy sector.
The Exhibition Director, Nigeria Energy at Informa Markets, Ade Yesufu, while highlighting the importance of the Conference noted that “With the Nigerian government’s commitment to advancing the power sector in 2023 and beyond, a $20 billion investment plan is set to pave the way for the establishment of new power plants and transmission lines, bolstering electricity generation and grid stability.”
As Nigeria's power sector continues to evolve, the emphasis on renewable energy sources and advanced metering technology signals a promising future. Minister Adebayo Adelabu's vision for a greener and more economically vibrant Nigeria lays a solid foundation for the country's sustainable energy transformation.
