- – Speaker Abbas Tajudeen underscores renewable energy’s role in economic growth
- – Highlights legislative efforts to promote clean energy investments
Emphasizes Nigeria’s commitment to global renewable energy initiatives
At the inaugural Legislative Conference and Expo on Renewable Energy in Lagos, Speaker of the House of Representatives, Abbas Tajudeen, emphasized renewable energy as pivotal to Nigeria’s development strategy. He highlighted the establishment of a Standing Committee on Renewable Energy and recent tax reforms eliminating VAT on renewable energy and compressed natural gas as significant legislative strides.
Speaker Tajudeen noted that in 2024 alone, 585 gigawatts of renewable energy were added globally, accounting for over 92% of new power capacity, with $1.7 trillion invested in clean energy technologies in 2023. He stressed the importance of Nigeria aligning with these global trends to safeguard its economy and environment.&
Commending the administration of President Bola Tinubu, he referenced the Electricity Act of 2023, which devolved power generation authority to sub-national entities, and the approval of \$1 billion in financing for rural solar expansion. Notably, $750 million has been allocated to expand solar energy access in underserved areas, leading to the deployment of 124 mini-grids and over 25,000 solar home systems, benefiting more than 200,000 people.
Speaker Tajudeen also spotlighted Nigeria’s role in continental efforts such as the Mission 300 Initiative with the World Bank and African Development Bank, aiming to provide electricity to 300 million Africans by 2030. He called on all stakeholders to act decisively, emphasizing the need to translate conference resolutions into actionable legislation, scalable technologies, and impactful investments.
