Following an investigative hearing on the $2 billion renewable energy grants and investments in Nigeria, the House of Representatives Committee on Renewable Energy has invited stakeholders. The investment, according to the committee, has not had a proportional impact on the nation’s energy security challenges.
President Bola Tinubu had in July 2024 stated at the Africa Natural Resource and Energy Investment Summit in Nigeria that the nation had attracted over $2 billion investment in the sector in the past decade. A statement issued on Sunday by the House committee chairman, Victor Ogene, in Abuja, said the probe will cover the period from 2015 to 2024.
The lawmaker explained that the parliament was aware that poor electricity generation, transmission, and distribution pose a significant threat to the nation’s industrial and technological development goals. The statement noted that successive governments since 2015 have made substantial investments and attracted multimillion-dollar foreign grants for Nigeria’s renewable energy subsector to create a viable and sustainable alternative energy supply.
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