By Adaobi Rhema Oguejiofor
The Chief Executive Officer (CEO) of Ikeja Electric (IE), Folake Soetan, has said that Nigeria’s solar energy prospect is estimated at around 6,500 Terawatt hours (TWh) per year, which is currently higher than the country’s current electricity output at an average of 3,570 megawatts per day.
Soetan revealed this while speaking at the Nigerian-British Chamber of Commerce (NBCC) Energy Group Conference with the theme, “Renewable Energy: Innovation, Transition, Opportunities and Challenges,” in Lagos.
She stated that the renewable energy opportunity in Nigeria is vast with potential for the country’s economic and environmental transformation, adding that the nation’s potential approximately stands at 76 gigawatts, showing that there are abundant resources available for renewable energy generation in Nigeria.
In her own words, “if you look at our growing population and the increasing energy demand, the renewable energy sector presents a significant opportunity for addressing Nigeria’s power deficit, while reducing the greenhouse gas emissions. Nigeria National Renewable Energy and Efficiency Policy aims to achieve 30 percent renewable energy and emission by 2030.”