SEO Riders:
– Nigerian CSOs advocate for tax incentives to boost renewable energy sector
– Calls intensify for government to reallocate fossil fuel subsidies to clean energy
- – Experts recommend 2% of national budget be dedicated to renewable energy development
Civil society organizations (CSOs) are advocating for the Nigerian government to reallocate tax revenues and financial incentives toward the development of renewable energy. They emphasize that such measures are crucial for addressing the nation’s energy poverty and achieving a sustainable energy transition.
Key recommendations from these CSOs include:
Allocating at least 2% of the national budget to renewable energy sector development.
Providing tax breaks, subsidies, and zero percent tariffs on decentralized renewable energy products and components.
Eliminating obstacles hindering a Just Energy Transition (JET) and fostering policies that encourage local manufacturing and research in renewable technologies.
These organizations argue that redirecting funds from fossil fuel subsidies to renewable energy initiatives will not only mitigate environmental degradation but also promote economic growth and energy accessibility across Nigeria.
