Power, illustration

The Federal Government has reiterated its resolve and openness to more private sector collaboration as the only viable means of solving Nigeria’s energy needs. The Minister for Power, Abubakar Aliyu, made this known at the 9th edition of the Nigeria Energy Conference held in Lagos on Tuesday. While delivering the opening address at the conference themed, “Affordable, Reliable and Sustainable Energy through Collaboration,” the minister represented by the Permanent Secretary, Ministry of Power, Temitope Fashedemi, harped on the need for the power sector to boost its access to energy through deeper collaborations with the private sector. “Access to energy enhances the socio-economic development of human existence. Hence, Nigeria’s economic prosperity requires a higher energy capacity than what we currently have. Our unmet energy needs are huge and will increase due to factors such as rising population, urbanisation and others. Consequently, enabling policy, targeted infrastructural development, innovative financing options, and investments in Ene technologies are key. “The answer to our needs is through collaborations. The solution to our energy access resides in the private sector,” he said. The minister insisted that the task of leveraging investment opportunities in the power sector required good policies, investments, and right incentives to investors.