All On Urges Policy Reforms to Advance Off-Grid Energy in Nigeria
All On, the Shell Impact Investment Company, has released a groundbreaking report advocating for significant policy reforms to bolster Nigeria’s off-grid energy sector. The report, titled the 2024 All Off-Grid Energy Report, highlights the potential of off-grid energy solutions to address the country’s electricity challenges by offering decentralized and sustainable alternatives.
Conducted by Nextier Power Nigeria Limited, a leading advisory firm, the report presents a comprehensive analysis of the off-grid sector, emphasizing the obstacles hindering its growth. Among these challenges are policy and regulatory constraints, market uncertainty, and the lack of market intelligence, as revealed by research funded by All On, which surveyed 21 mini-grids across various Nigerian communities.
Mrs. Folakemi Aletan, Program Manager at Nextier, emphasized the urgent need for policy reforms during the report’s presentation in Abuja. Aletan highlighted the significant reliance on small petrol or diesel generators due to the national grid’s unreliability, costing Nigerians approximately $14 billion annually and posing environmental hazards.
Aletan called for comprehensive policy review and harmonization, incentives for renewable energy adoption, and the removal of investment barriers. She also advocated for increased federal government support for off-grid projects and the implementation of cross-sectoral policies to enhance power affordability and meet climate change commitments.
Ms. Caroline Eboumbou, CEO of All On, reiterated the company’s commitment to sustainable energy initiatives, emphasizing the report’s importance as a resource for stakeholders dedicated to transforming Nigeria’s energy sector. She emphasized the need for innovation and collaboration to ensure a greener future for all.
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Ms. Onyebuchi Odianjo, Communications Associate at All On, praised Nextier for their research and called for increased contributions from international development agencies, donors, and investors to accelerate the growth of the off-grid market. She emphasized the report’s role as a catalyst for policy reforms and investment, driving the expansion of off-grid energy solutions and contributing to Nigeria’s sustainable development.
The All Off-Grid Energy Report by All On is poised to stimulate action, driving policy reforms and investment to propel the expansion of off-grid energy solutions across Nigeria.
