Nigeria is losing more than N2 billion every year due to persistent electricity challenges, according to the United Nations Development Programme (UNDP).
UNDP Resident Representative, Elsie Attafuah, disclosed this during the inaugural National Legislative Conference and Expo on Renewable Energy held in Lagos. The event was spearheaded by the House of Representatives Committee on Renewable Energy in partnership with the UNDP under its Parliamentary Development Programme.
Attafuah decried the economic implications of unreliable power supply, with a sharp spotlight on the agricultural sector, where post-harvest losses of yams, fruits, and vegetables are mounting. She noted that poor electricity access has deepened unemployment, but highlighted encouraging results from UNDP-backed power initiatives in parts of northern Nigeria, where farmers are now more productive and profitable.
Speaker of the House of Representatives, Tajudeen Abbas, described Nigeria’s transition to renewable energy as imperative. He affirmed that the country’s legislature is fully aligned with global efforts toward sustainable energy, framing it as a route to economic stability, energy security, and environmental stewardship.
Abbas pointed out that renewable energy currently drives 92% of new global electricity generation, with 2024 alone seeing 585 gigawatts of clean energy capacity added. He noted that in 2023, $1.7 trillion of the $2.8 trillion global energy investment went into renewables.
Highlighting Nigeria’s dependency on fossil fuel exports, Abbas emphasized the need for economic diversification and targeted investments in clean energy. He revealed that the House has passed new tax reforms scrapping VAT on renewable energy and compressed natural gas (CNG), and is backing legal frameworks for the national Renewable Energy and Energy Efficiency Policy.
He also stressed the urgency of expanding access to clean cooking fuels for public health and environmental benefits, stating that policy interventions are underway in collaboration with key stakeholders.
Chairman of the House Committee on Renewable Energy, Hon. Victor Ogene, who represents Ogbaru Federal Constituency, stated that the conference was a strategic platform to reduce Nigeria’s fossil fuel reliance and catalyze industrial growth via clean energy.
State representatives from Abia, Enugu, and Osun reiterated the importance of building a reliable and sustainable energy system for national development. Key speakers included Ghana’s First Deputy Speaker of Parliament, Prof. Benard Afliator; Executive Director of INCLUDE Knowledge Platform, Anika Altaf; and top energy officials from Nigerian states.
