Nigeria requires $16billion yearly to fix the energy problems, as about 22 million jobs are being expected from renewable energy

United Nations Development Programme and Bank of Industry (UNDP/BOI) project Manager Mr Segun Adaju speaking yesterday, during the second Renewable Energy Investment Forum organised by BOI said, the project will involve a business chain where many people will thereby, gain employment.

He said the project is in furtherance of UNDP’s support to private sector development for micro, small and medium scale enterprises and explained that the renewable energy will provide power through the solar, water, and biomass.

In his words: “Nigerians spend about $11 billion annually on energy generation through the usage of generators, which involved the usage of fuel. And all what we need for the sustainable energy in the country is $16 billion. That is why we are calling on Nigerians to harness these resources for the full operation of renewable energy.

According to him “Renewable energy industry is rapidly growing beyond all projections by the industry experts. For instance, according to Renewable Energy Global status report, 2012, by the end of 2011, total renewable power capacity worldwide exceeded 1,360 Giga Watt (GW), up to by 8 per cent over what it was in 2010.”

He noted that the report stated that renewable energy supply constituted more than 25% of total global power-generating capacity which is estimated at 5,360 GW in 2011, as he said it also supplied an estimated 20.3% of global electricity.

Source: http://odili.net/news/source/2012/dec/20/601.html

16 billion annually is a lie.
Nigeria needs seriousness, focus and renewal of old infrastructure, and building of more power generating facitilies. The world has invented cheaper and smarter ways to reach these goals.

And our total capital expenditure isn't up to 16 billion dollars annually.

There are countries progressing in power distribution and generation like Ethiopia whom aren't spending this much and have the same population issues we have. The government is just inflating figures to justify more theft and to make us feel as if progress is impossible so when they fail they won't be held accountable

401kk: And our total capital expenditure isn't up to 16 billion dollars annually.

The $16billion would have to be provided by both the private sector and governments (federal and state). I think the private sector will provide the bulk of the funds, since they will be in charge of transmission and distribution of electricity. The FG will only handle the generation aspect.

I just realized that this is my 100th topic on Nairaland. Yay!!

CFCfan:

The $16billion would have to be provided by both the private sector and governments (federal and state). I think the private sector will provide the bulk of the funds, since they will be in charge of transmission and distribution of electricity. The FG will only handle the generation aspect.

Actually, the Private sector would be in charge of Distribution and Generation; the Govt would only continue to own Transmission but even that would be under Private sector technical and financial management (Manitoba in this case- thankfully, already activated with the appointment of the board and payment of commencement fee this week).

You were right in saying that MOST of this required fund would be provided by the Private sector. That is actually the main reason the Power sector is been reformed and been privatized.

^^^
Thanks for d correction. I just hope that the govt would upgrade the transmission infrastructure in order to match the amount of megawatts being generated and distributed.

I will send d money to d Nigeria gov

*******YAWN******

[quote author=]There are countries progressing in power distribution and generation like Ethiopia whom aren't spending this much and have the same population issues we have. The government is just inflating figures to justify more theft and to make us feel as if progress is impossible so when they fail they won't be held accountable [/quote]

u and ethiopa get the same population... Think man.[color=#006600][/color]

Nigeria needs actions, brain enabled dedicated people in govt. And not this kind of statement.
Na today? Talk is cheap jare.
Every time we need this amount and that to improve. Vision 20.. this and vision 20 till God-till-knows-when...

They should ask Obasanjo & Imoke for that,i tink i read sth abt that figure being given to Imoke....make una no allocate money to dt sector again...we good wit the darkness...too much corruption in dt sector

The headline is misleading!!!

$16 billion yearly?
For how long?
2,5,9,20 years?
How much is really needed totally to solve Nigeria's public power dearth?
Does the Nigerian government believe in renewable energy?
Are the companies which bought PHCN's assets thinking renewable?
How much has the 'slight' improvement in public power supply cost Nigeria?
How cost effective per KW is this compared to other parts of the planet?
Questions,Questions& more Questions but no answers.

Also the OP headline is misleading in relation to the article.

Nigrians would start enjoying stable electricity as 2013.

In a nutshell, Obasanjo's 16billion dollars power funds was well managed.

Deja Vu...No, not again. Didn't Obasanjo spend $16 billion dollars also with absolutely nothing tangible to show for it? I recall all the Hail Mary song by Obasanjo power team on how our power supply would be a thing of the past. Honestly, I can't see a difference with power now and under military rulings of IBB, Abacha and Abdulsalami; if there is in fact any, would say minimal. Let's be rational for once. Please save that $16 billion or distribute amongst Nigerian citizenry( every body gets 17000 Naira each...its something rather than stolen again by THE FEW IN ABUJAWe are fine with the current power supply. However, if they insist on injecting such funds, then, everything contract-related to that project must be awarded to foreign companies, all. And no Nigerian firm would be allow to come near the bidding or awarded any contract, not even A NAIRA. Why? When you award it to a Nigerian firm, they turn around and subcontract it to a third party(foreign company), cutting 1/3 of the award amount

$16 billion yearly? For what? This is the biggest LIE of 2012. It is drop-dead incredible, enough to make the world come to an end. Shioor kelebe tueee!

CFCfan: ^^^The $16billion would have to be provided by both the private sector and governments (federal and state). I think the private sector will provide the bulk of the funds, since they will be in charge of transmission and distribution of electricity. The FG will only handle the generation aspect.

taharqa: ^^^Actually, the Private sector would be in charge of Distribution and Generation; the Govt would only continue to own Transmission but even that would be under Private sector technical and financial management (Manitoba in this case- thankfully, already activated with the appointment of the board and payment of commencement fee this week).

You were right in saying that MOST of this required fund would be provided by the Private sector. That is actually the main reason the Power sector is been reformed and been privatized.

CFCfan: ^^^
Thanks for d correction. I just hope that the govt would upgrade the transmission infrastructure in order to match the amount of megawatts being generated and distributed.

i like it when people reason like this, you guys are really matured , and to CFCfan, congrats for reaching the 100 topic mark.

[quote author=]16 billion annually is a lie.
Nigeria needs seriousness, focus and renewal of old infrastructure, and building of more power generating facitilies. The world has invented cheaper and smarter ways to reach these goals.[/quote]


it is not money that will fix the energy problem. Just one solution will tackle the whole problem. Being serious.

CFCfan:

The $16billion would have to be provided by both the private sector and governments (federal and state). I think the private sector will provide the bulk of the funds, since they will be in charge of transmission and distribution of electricity. The FG will only handle the generation aspect.

I know.

GenBuhari: [size=18pt]Haven't we been here before?

Obasanjo took $16Bn from treasury for electricty and gave us darkness.


So I assume that now this PDP criminals will be borrowing a further $16Bn annually from IMF and further mortgage futures of our children and generations yet unborn.

Apart from the unnecessary loans, these rogues would continue hiking fuel prices.

Mumu docile Nigerian youths are sitting watching these rogues squander their heritage and future

Our children are doomed [/size]

MY OWN CHILDREN ARE NOT DOOMED.