There’s no competition in Nigeria’s RE market – REAN president

Stiff competition to gain and retain market shares in Nigeria’s budding renewable energy industry do not exist at the moment, and as such operators should be free to bond and share information and data that could help the market develop, president of the Renewable Energy Association of Nigeria (REAN), Mr. Segun Adaju, has disclosed.

Adaju, who is the interim head of the REAN – an umbrella association of all renewable energy operators in Nigeria, stated at the 2017 edition of the annual Power Nigeria Conference and Exhibition in Lagos, that with Nigeria’s huge electricity deficit, and prospects in distributed renewable energy, operators in the sector would have a lot of market shares to pick up without harmful competition that usually defines capitalism.

Existing indices show that about 89 million Nigerians are yet to get connected to the national electricity grid. REAN however stated in its objectives that it will: “promote strategies that will improve the contribution of renewable energy up to 40 per cent of the national energy mix by 2030.”

“This is the best time for you to join the industry. We have corporate memberships, NGOs, and associate members,” said Adaju, in his remarks at the conference.

He further stated: “I commend the government of Nigeria for the steps they have taken so far. Apart from policy development, they have showcased projects to show that solar and renewable can work.

“We are also responsible for the policy that will help this industry grow – let me tell everyone here: there is no competition in this space – Nigeria.”

Buttressing his assertions, he explained: “We have an estimated 180 million people, and we are producing just 5000 megawatts. The quickest and smartest way to electrify Nigeria is what we call distributed energy especially renewable energy – wind, solar, and biomass.

“I have done about 300 barber shops, when I did a survey on the association I am working with alone in Lagos, they have about 7000 members. I have been dealing with these 300 and almost burning out and stretched, I won’t compete with others because I can’t even meet up with this number.

“I believe very strongly in the renewable energy sector in Nigeria, it is going to create job, empower people and increase productivity, as well as energise Nigerians.”