28 March 2018, Sweetcrude, Abuja – The Minister of Science and Technology, Dr. Ogbonnaya Onu, said on Tuesday said the Federal Government would use renewable energy resources to increase energy generation.
Onu made this known when he received an Energy Charter Mission Team on Energy Investment Risk Assessment (EIRA) 2018 in Abuja, led by the Director-General, Energy Commission of Nigeria (ECN), Prof. Jidere Bala.
The minister said such effort would assist the nation to produce enough energy needed to grow the nation’s economy.
He said Nigeria has nearly all renewable energy resources that could help the nation to achieve more than sufficient power desirable, adding that a renewable resource can be used repeatedly and replaced naturally.
“These renewable source includes oxygen, fresh water, solar energy and biomass among others. However, gasoline, coal, natural gas, diesel, plastics and other fossil fuel are not renewable,” he said.
Earlier, Bala said the purpose of the visit was to brief the minister on the effort of the team towards assessing and boosting energy in Nigeria via investments.
According to him, EIRA is a publication of the Energy Charter Secretariat that evaluates specific policy, regulatory and legal risks relevant to investments in the energy sector of various countries.
“Presentation of results is in the form of a report containing individual country profiles and a comparative is obtained from the government and external energy experts.
“EIRA assists the government in identifying and eliminating specific risks in their regulatory and legal environment to increase investment inflow. The risks assessed are those which countries can control and mitigate throug