NIGERIA CAN RUN 24 HOUR ECONOMY, IF POTENTIAL OF RENEWABLE ENERGY IS MAXIMISE – EXPERT
The Director maintained that most developed countries of the world rely on the private sector to drive the power sector, in collaboration with government.
“This is what should be replicated in Nigeria to address the challenges in this critical sector that can help grow the economy, a good number of businesses in Nigeria are small-scale in nature, and are constantly in need of power for production and service delivery.
“If renewable energy is encouraged, it will go a long one in helping small businesses thrive and the ripple effect will be that our economy will be boosted,’’ Ibe said.
Penpushing further reports that while speaking on her company’s plan to collaborate with government, the Director noted that the company is positioning itself to align with the Sustainable Development Goal (SDG) Numbers Seven and 13 on clean and affordable energy as well as climate change.
“We have continued to lead others in providing alternative power supply and helping businesses grow in Nigeria, more so, our capacity has been enhanced, as Nexgen Energy emerged one of the winners of the 2019 Nigeria Off-Grid Energy Challenge during the 2019 Solar Future Nigeria conference, held in Lagos.
“We are willing to do more, as announced by the organisers of the challenge – All On and the United States African Development Foundation (USADF),’’ she said.
Penpushing also reports that Ibe said that through the challenge, the United States African Development Foundation (USADF) would provide each of the selected energy enterprises $50,000 grant as seed capital, while All On would provide $50,000 in convertible debt.
The company boss said that in addition to funding, the winners would also receive technical assistance from USADF’s Nigerian technical partner, Diamond Development Initiatives (DDI), and governance support from All On.
The Nexgen Director said that the company is ready to enhance the company’s ability to work effectively and efficiently to address power for agricultural purposes, with the Federal Government’s diversification efforts.
