The International Renewable Energy Agency predicts that 60 per cent of Nigeria’s energy demand in 2050 can be met through renewable sources.
Fabian Lojede, an award-winning actor and filmmaker, says Nigeria is on the cusp of a renewable energy revolution, adding that while the initial investment cost may be slightly higher, it pays for itself over time, making it sustainable and accessible to the masses.
Mr Lojede, famous for his roles in Heaven’s Hell (2019), Jacob’s Cross (2007) and Greener Grass (2009) said this during an official event signalling his partnership with LithTech, a renewable energy company in Lagos on Monday, noting that Nigeria’s transition to renewable energy is achievable through government-provided carbon credit incentives.
He emphasised, “Nigeria is on the precipice of a renewable energy revolution due to the improving technology and accessibility of renewable energy sources like solar. We’re nearing a stage similar to when GSM technology revolutionised communication. The next technological leap will be the widespread adoption of renewable energy platforms and formats.”
Similarly, the movie star also noted that his partnership with LithTech, with a research base in Germany and a production line in Shenzhen, China, would boast renewal energy across hospitality, health and other sectors in Nigeria.
The groundbreaking partnership was officially unveiled during the ongoing Lagos International Trade Fair at Tafawa Belewa Square, Lagos State.
The event was graced by prominent figures, including the president of the Lagos Chamber of Commerce and Industry (LCCI), Michael Olawale-Cole, who commended TNL for exemplifying the creation of value-driven partnerships.
Also in attendance was Tolu Odebiyi, representing the former governor of Ogun State, Ibikunle Amosun.
The momentum for renewable energy is surging as countries worldwide adopt decarbonisation to achieve the net-zero carbon emissions target by 2050. The International Energy Agency (IEA) predicts a peak in global demand for oil, natural gas, and coal by 2030, driven by policies favouring cleaner energy sources and transportation.
Nigeria aims to increase renewable electricity supply from 13 per cent in 2015 to 36 per cent by 2030, while the International Renewable Energy Agency predicts that 60 per cent of Nigeria’s energy demand in 2050 can be met through renewable sources.
Nigeria, in particular, is in the early stages of adopting renewable energy, with solar power being the most widely available resource. Under the Renewable Energy Master Plan (REMP), Nigeria aims to increase the share of renewable electricity from 13 per cent in 2015 to 23 per cent in 2025 and 36 per cent by 2030.
The International Renewable Energy Agency (IRENA) foresees that almost 60 per cent of Nigeria’s energy demand in 2050 can be met through renewable sources. This shift conserves natural resources and aligns with Nigeria and Africa’s goals of embracing cleaner and cost-effective energy sources.
Through its partnership with LithTech, TNL aims to alleviate operational costs for businesses in Nigeria, primarily across hospitality, health and education sectors.
Kehinde Olaleye, the deputy managing director of TNL, emphasised the company’s mission to lower the cost of living for Nigerians.
The actor also said the International Energy Agency’s recent World Energy Outlook projection that oil, natural gas, and coal demands will peak by 2030 due to policies favouring cleaner energy sources aligned with Nigeria’s Renewable Energy Master Plan (REMP).