Business/Economy

Analyst Urges FG to Invest in Renewable Energy

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28 May 2021 9:44 AM GMT
Analyst Urges FG to Invest in Renewable Energy
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A Business Analyst, Mr Ikechukwu Unegbu, has urged the Federal Government to invest more in renewable energy as an antidote to mitigate the incessant black out often occasioned by grid collapse. Unegbu, a former President of the Chartered Institute of Bankers of Nigeria (CIBN), stated this in an interview in Lagos on Friday. He noted […]

A Business Analyst, Mr Ikechukwu Unegbu, has urged the Federal Government to invest more in renewable energy as an antidote to mitigate the incessant black out often occasioned by grid collapse.

Unegbu, a former President of the Chartered Institute of Bankers of Nigeria (CIBN), stated this in an interview in Lagos on Friday.

He noted that diversifying some of the nation’s electricity generation to renewable ones might be the panacea to addressing the country’s energy inadequacies.

“The government must begin to ensure that more of its public institutions are powered by solar power sources, particularly in parts of the country that is characterised with intense sunlight,” he said.

“Investing in more renewable energy sources is most appropriate because its environmentally friendly.

“It is green energy in nature and does not cause any form of climate emission to humanity.

“Most developed countries of the West are fast moving to this cleaner form of energy and our country cannot be an exception,” he said.

He noted that the three tiers of government should invest in wind energy to augment the current electricity been generated in the country.

Supreme reports that the nation’s electricity grid recently suffered another system collapse, throwing Nigerians into darkness and leaving businesses to hook on to other alternative electricity sources.

The General Manager, Public Affairs of the Transmission Company of Nigeria (TCN), Mrs Ndidi Mbah, had confirmed the incident in a statement and blamed it on what she described as “voltage issues” for the collapse.

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