The United Nations Development Programme (UNDP) has revealed that Nigeria suffers economic losses exceeding N2 billion each year due to its unstable and insufficient electricity supply.
Speaking at the maiden edition of the National Legislative Conference and Expo on Renewable Energy in Lagos, UNDP Resident Representative, Elsie Attafuah, said the unreliable power situation continues to stifle productivity across sectors, particularly in agriculture.
The conference was a joint effort between the House of Representatives Committee on Renewable Energy and the UNDP, under its Parliamentary Development Programme.
Attafuah stressed that large quantities of agricultural produce, including yams, fruits, and vegetables, go to waste due to inadequate refrigeration and storage caused by inconsistent electricity. She also noted that the country’s power challenges contribute to rising unemployment.
Highlighting some progress, Attafuah pointed out that UNDP’s provision of alternative power sources to farmers in parts of northern Nigeria has begun to show encouraging results, including improved earnings and increased participation in farming activities.
Also addressing participants, the Speaker of the House of Representatives, Tajudeen Abbas, emphasised that Nigeria must transition to renewable energy to safeguard its economy and secure a sustainable future.
He noted, “This conference reflects our commitment to responding to global energy challenges. Nigeria must embrace sustainable energy solutions not only for growth and energy security but also for long-term environmental resilience.”
Abbas referenced international energy trends, stating that in 2024 alone, 585 gigawatts of renewable capacity were added globally, representing 92% of new electricity generation. In 2023, $1.7 trillion of the $2.8 trillion invested globally in the energy sector went into clean energy technologies.
He acknowledged that while Nigeria, a country heavily reliant on fossil fuel exports, faces challenges in adapting to these shifts, it also has opportunities to diversify its economy and attract green investment.
To support this transition, Abbas revealed that new tax reforms had been passed, removing value-added tax (VAT) on renewable energy products and compressed natural gas (CNG). He said the House is also working to strengthen the legal framework for the federal government’s Renewable Energy and Energy Efficiency Policy introduced in 2015.
“We also recognise the urgency of expanding access to clean cooking energy, which is critical for public health and environmental sustainability,” he added.
Chairman of the House Committee on Renewable Energy, Victor Ogene, reiterated the goal of the conference: to help reduce Nigeria’s reliance on fossil fuels and foster clean energy-driven industrial growth. Representing Ogbaru Federal Constituency, Ogene said renewable energy is essential to job creation and long-term development.
Delegates from Abia, Enugu, and Osun states also echoed the need for a more reliable and sustainable power system. They advocated for expanded energy access and better infrastructure as keys to national progress.
Notable contributors at the event included Ghana’s First Deputy Speaker of Parliament, Prof. Benard Afliator (on behalf of Speaker Alban Bagbin), Executive Director of the INCLUDE Knowledge Platform, Anika Altaf, and top energy officials from the participating Nigerian states.
