Aware of the fact that sustainable energy is the bedrock of every economy, the President Muhammadu Buhari-led federal government has promised to turn around the nation’s huge natural resources including fossil fuel and renewable energy for economic stimulation. Vice president Yemi Osinbajo said on Tuesday April 12 at the ongoing Nigeria Energy Forum in Lagos that the federal government would provide the enabling environment for the development of solar projects both at utility-scale and small home solutions.
Osinbajo stated that the present administration was working to ensure that needed investment in transmission was made to encourage private investors in the generation and distribution segments of electricity supply. He said this was by creating the enabling environment that would allow them to make needed investment. Nigeria is the largest oil producer in Africa and 11th largest in the world with proven reserve of crude oil of about 35 billion barrels. The country also has the seventh largest natural gas deposit in the world and the highest quality with low sulphur content. The irony is that in spite of such endowments, “we still suffer serious challenges in the oil and gas sector”, saying that the government was doing everything possible to ensure availability and accessibility of energy and petroleum products in the country.