Sustainable Development of Renewable Energy Technology in Nigeria: An Overview

摘要

Nigeria has set for herself the target of being within the 20 largest economies in the world by 2020; within the challenges of climate change, rising population and unemployment as well as low access to energy. For the economy to grow at the targeted rate of 11% - 13%, studies by the Energy Commission of Nigeria show that huge amount of energy would be required which would have to be sourced from a basket of fossil, nuclear and renewable energy sources. Development and Sustenance of Renewable Energy have being identified to be the most suitable. Renewable Energy is derived from a source that can be regenerated within a reasonably short time through natural sources. These sources include Solar, Wind, Hydro, biomass, Geothermal etc. Nigeria has huge oil and gas reserves of about 37 billion barrels and 87 TSCF, respectively; and the largest oil producer and exporter in Africa. It has therefore over 70% of its foreign earnings from petroleum hence the need for promoting renewable energy in such an economy, since petroleum can finish on consumption. Energy from these renewable sources can be transformed to supplement the final energy from conventional energy needed to grow the economy in a sustainable manner. Indeed, renewable electricity is expected to contribute up to 20% of the total fuel demand. Africa and indeed Nigeria is well positioned to embark on a clean energy growth path and climate-compatible development this paper therefore recommends that renewable energy technologies be viewed as an opportunity for stronger private sector involvement, accelerating growth and reducing poverty as well as embarking on a green growth path.