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UNDP: Nigeria Looses over N2bn Yearly Over Power Woes
The United Nations Development Programme (UNDP) has revealed that Nigeria loses over ₦2 billion every year due to its unreliable and inadequate power supply. This was disclosed by the UNDP Resident Representative, Elsie Attafuah, at the First National Legislative Conference and Expo on Renewable Energy held in Lagos.....KINDLY READ THE FULL STORY HERE▶
Organised by the House of Representatives Committee on Renewable Energy in partnership with the UNDP’s Parliamentary Development Programme, the event aimed to spotlight Nigeria’s energy challenges and chart a sustainable path forward.
Attafuah noted that the nation’s poor electricity infrastructure significantly hampers economic productivity, especially in agriculture. Perishable crops like yam, fruits, and vegetables often go to waste due to lack of power for preservation. She further highlighted how inadequate electricity contributes to unemployment and poverty.
She shared that UNDP’s recent initiatives—providing power-generating facilities to farmers in some northern states—have started yielding results, with increased productivity and profits among beneficiaries.
Speaker of the House of Representatives, Tajudeen Abbas, stressed that Nigeria can no longer afford to delay its transition to renewable energy. He said the shift is essential for economic resilience, energy security, and environmental protection. According to him, the House is taking legislative steps to support this transition, including removing VAT on renewable energy and compressed natural gas (CNG) to attract investment.
Abbas noted that global energy trends are shifting dramatically, with renewable energy accounting for 92% of new power generation in 2024 and receiving $1.7 trillion of the $2.8 trillion invested in energy worldwide in 2023. For a country dependent on fossil fuels, he said, Nigeria must adapt quickly or risk economic vulnerability.
He also disclosed that lawmakers are working to strengthen the legal framework supporting the federal government’s Renewable Energy and Energy Efficiency Policy (2015) and are actively engaging with stakeholders to promote clean cooking fuels as a public health and environmental imperative.
Victor Ogene, Chairman of the House Committee on Renewable Energy, emphasized that reducing dependence on fossil fuels is critical to unlocking industrial growth and creating jobs. He said the conference was a strategic move to accelerate clean energy adoption nationwide.
Representatives from Abia, Enugu, and Osun States also advocated for urgent improvements in power access and the development of a sustainable energy infrastructure.
Other dignitaries at the event included Prof. Benard Afliator of Ghana’s Parliament, Anika Altaf from INCLUDE Knowledge Platform, and state energy officials from Abia, Enugu, and Osun who echoed the need for collaborative action.
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