The European Union (EU) has stated that Nigerian businesses will remain uncompetitive relying on fossil fuels for power generation. The Ambassador, EU to Nigeria, Ketil Karlsen, said apart from making Nigerian businesses uncompetitive, fossil fuel is unhealthy for the environment and unsustainable.
The Ambassador stated this on the sidelines of a visit when he led a delegation of the European Union to Nigeria to organise a green event tagged “Renewable energy for a sustainable future”, in Lagos.
In his words: “Generating energy through generators is not competitive and it is not going to put Nigeria at the top of competition with other businesses across the world; so it is about getting started. There are opportunities for generating large scale production of renewable energy.”He stated the need for Nigeria to urgently embrace renewable energy to provide clean, affordable and stable energy, stressing that renewable energy was vital and assuring in providing over 80 million Nigerians access to power supply.
“We are here today because we need to put spotlight on renewable energy. The need for renewable energy is so important and already in Nigeria with a population of 200 million people where at least 80 million do not have access to clean, affordable and stable energy. There is so much catching up to do to help provide access to energy for schools, health care and businesses, because by the end of the day without having an affordable energy supply, the businesses will not be competitive with other countries.
“So it is about finding the right formulas that will allow that development and job creation to take place, but in a manner whereby we do not undermine the environment, or we do not add to the existing climate change in Nigeria so this is the resounding message we are giving today,” he said.
“Nigeria must take this matter seriously and we want everyone to participate in this development and not only for the politicians to show the way, but for each individual, families, communities and businesses to contribute to seeing more of clean, affordable and stable energy for Nigerians,” he added.
According to him, “We see amazing opportunities for technology where we can use hydro, wind and solar energy to provide clean energy for Nigeria and we also see new methodologies developing in Nigeria. We will also like to see these technologies being produced in Nigeria and not just seeing them imported into the country.”
He said manufacturing solar energy products presents business opportunities to create massive employment opportunities, saying that local production of solar energy products would bring about an increasing demand for solar technology with Nigeria’s population expected to double over the next decade.
“The share market of potential consumers of energy is so significant.The circular economy will be more prominent in the years to come and I think Lagos has the potential to spear head that to a certain extent. This is what we love to see and we look out for foreign investment opportunities to invest in those young and dynamic entrepreneurs that have creative ideas,” he said.