The Promise of Solar Energy

Solar energy is a beacon of hope for Nigeria’s energy sector. With its abundant sunlight, the country has the potential to harness this renewable resource to meet its growing energy demands.

“Nigeria is blessed with over 5.5 hours of sunlight daily, yet solar energy makes up less than two per cent of our energy mix. If you look at countries like Kenya, where the government has backed solar initiatives, solar energy now accounts for over 13 per cent of their total energy in just a few years. This shows how impactful government support can be in reducing costs and encouraging growth.” Ojoboh believed one sure way the Nigerian government can Jumpstart people into investing in Solar energy systems is to offer tax breaks and remove import duty on solar energy, saying that “currently, we import over 90 per cent of our solar panels, inverters, and batteries, and import duties can add another 10 per cent to 20 per cent to the cost. If the government waived these fees, solar energy would be more affordable for homeowners and businesses.”

The Strategic Approach to Economic Growth: Lessons from Germany

Nigeria’s quest for economic growth and stability has often been met with challenges. However, there are valuable lessons to be learned from other nations that have successfully navigated similar paths.