The World Bank will soon be implementing a solar auction framework, according to the Nigerian Electricity Regulatory Commission (NERC), which will lower the cost of solar tariffs in Nigeria.
At a webinar competency centre renewable series of the Major Energies Marketers Association of Nigeria (MEMAN), Engineer O. Jonathan, Head of Renewable Energy/Corporate Planning and Strategy, NERC, made this statement available to BrandSpur national news desk.
According to him: “We are having some challenges which have to do with integrating solar energy into the national grid. Due to those challenges, many commissions have come to the aid of the commission.
“World Bank presently is bringing out a solar auction framework. That solar auction framework, once it commences, will allow the developers, and the cost of solar tariff will go down. That is the essence of the solar auction. It will open the space for all the contractors in Nigeria to be in it.
“In financing and investment, the World has outlined how they will support in the distribution and transmission segment, not in the generation,” he added.
In a press release sent to journalists yesterday, MEMAN’s Head of Supply, HSEQ, and Technical discussed the workshop’s significance in furthering Nigeria’s energy transition strategy. Title of the workshop: “Energy transition through solar energy.”
Nigerians’ energy needs, and those of Lagos State in particular, are not being met, according to Engineer Abiola Kosegbe, Permanent Secretary, Lagos State Ministry of Energy and Mineral Resources.
According to her, Lagos State has set an ambitious aim to produce 50% of its electricity from renewable sources by 2030, and the success of programs like the “Solar for All” program will be critical in realising this objective.
She emphasised that to maintain the rise of renewable energy in Lagos and throughout Nigeria, there must be ongoing investments in infrastructure, supportive legislation, and cooperation.
According to Kosegbe: “Advancement of renewable technologies and the transformative potential for the energy sector. We know that there is a deficit in the energy needs of Nigerians and in Lagos State, in particular.
“That cannot just be over-emphasized. We stand in a new era of advancement in renewable technologies. We need to fill the gaps that we are faced with as we are in Nigeria today. Solar, wind, hydro, and bioenergy are not just alternative sources.
“They are becoming the backbone of a sustainable energy future. Innovations in these fields are driving efficiency, reducing costs, and unlocking new possibilities.”
Continuing: “Focusing on solar power, for example, recent breakthroughs in energy storage are dramatically increasing solar efficiency and making it more accessible than ever. Wind energy, too, has seen remarkable strides with the development of larger, more efficient turbines and offshore installations that harness stronger and more consistent winds.
“For Lagos State, we have set an ambitious renewable energy target. We are aiming to generate 50 percent of electricity through renewable sources by 2030. Solar energy is leading the charge with Lagos state government launching initiatives like Solar for all programme, providing affordable solar energy solutions for homes and businesses,” Kosegbe added.
