RE operators to lobby Nigeria for improved market incentives

Key promoters and operators in Nigeria’s renewable energy sector have indicated they will be pushing for Nigeria to scale up the deployment of renewable energy solutions in the country through improved market incentives.

OGN learnt of this from a recent meeting organised in Abuja by Power for All, a global campaign organisation that advocates the use of Decentralised Renewable Energy (DRE) by emerging markets to end energy poverty.

It was gathered from the meeting that the sort of market incentives sort from the country by RE operators will be quite precise.

As parts of the market incentives, promoters will be asking for an abolition of VAT and import duties on RE components brought into the country for projects.

They will also be making a request that the government streamline its policies and regulations on the country’s RE sector, as well as set up a one-stop point that could be responsible for RE policy formulation and implementation in the country.

Apart from these, a request for the streamlining of importation of RE components, credible enforcement of quality and standards of components and works in the sector, as well as improved effort to stimulate the RE market, will also be made on the country by promoters.

According to them, these will be critical to the country’s accomplishment of its objectives to have up to 50% of its energy come from renewables by 2020.

Nigeria’s Vice President, Prof. Yemi Osinbajo reportedly disclosed this in his recent declaration of the country’s huge policy shift on RE.

The Abuja meeting was however initiated to build a consensus between top officials of relevant government’s ministries and agencies working in the RE sector on the potentials of RE and how government’s programmes in it can be better couched.