***As SUNREF Initiators Warehouse $70 Million For Energy Finance
The Minister of power, Engr. Mamman Saleh, has applauded the launch of Sustainable Use of Natural Resources and Energy Finance (SUNREF), noting that the $70 million which will be accessed under it to support energy efficiency and renewable energy will go a long way to boost the Government’s electricity vision 303030.
The Vision 303030 aims at achieving 30,000MW by the end of the year, 2030 with 30 percent coming from renewable energy.
The Minister articulated what the federal government is doing to promote renewable energy in the country and to ensure that Nigerians have access to reliable and sustainable power.
He spoke while launching SUNREF Programme otherwise known as the Sustainable Use of Natural Resources and Energy Finance, a green finance initiative by the French Development Agency (AFD) and European Union in collaboration with the Manufacturers Association of Nigeria (MAN), Access Bank Plc and United Bank of Africa Plc.
The programme launch of the SUNREF was done online On Tuesday.
Saleh who was represented by the Director, Renewable Energy and Access to rural power, Farouk Yabo, enumerated the focus areas of the ministry of power which includes: aligning the value chain namely the Generation, transmission, Distribution and connection to the end users; Sector liquidity; Completion of legacy projects; Power Access to communities, manufacturers and SMEs and Coordination across the sector.
While lamenting that one of the key challenges that has been facing renewable energy and energy efficiency in Nigeria is lack of financing, he expressed optimism that SUNREF project would go a long way in improving the quality of performance with respect to international treaties and agreements Nigeria had signed for instance actualizing SDG goals Seven and 13.
The President of the Manufacturers Association of Nigeria (MAN), Mansur Ahmed, represented by the Director of Economics and Statistics, Mr. Osundipe,
noted that the programme aims at promoting a more diversified energy needs through improved development and deployment of renewable energy and energy efficiency solutions to industries and households in Nigeria.
He expressed gratitude to the organizers for their efforts towards finding energy solution in Nigeria.
According Ahmed in a welcome address, “The challenge of inadequate electricity supply is a big hindrance to growth and competitiveness of the manufacturing sector in the country. It is the principal reason why Nigerian manufactured products are less competitive globally.
“MAN therefore have a key interest in programmes in the last few years aimed at improving supply of energy to manufacturing sector.
“The association encourages companies to explore alternative sources of power and adopt energy efficiency strategies to curb energy wastages and ugument electricity supply from the grid.
He expressed hope that the partnership of this nature and project have the capacity to enhance access to renewable energy and improve electricity supplies in the country.
He noted that it will have a positive multiplier effects in the manufacturing sector and improve the competitiveness of manufactured products.
The official launch of the SUNREF project was attended by the Minister of Power, Mamman Saleh represented by Farouk Yabo, Director of renewable energy and rural power access; Minister of finance, Zanaib Ahmed, represented by AbdulFatai Abdulsalam, Deputy Director; Minister of Industry, Trade and Investments, Otunba Adeniyi Adebayo, represented by Banarbas Jato, Deputy director, Industrial Development; President of the Manufacturers Association of Nigeria (MAN), Mansur Ahmed; Chairman of Nigerian Electricity Regulatory Commission (NERC), Prof. John Momoh; Director General of the Standard Organization of Nigeria (SON), Osita Aboloma, represented by Richard Adewumi, Deputy Director and the Director General of the Energy Commission of Nigeria (ECN), Prof. Ella Bala; the Country Director of AFD, Pascal; Acting Head of EU Delegation and head of politics, press and information, Alexander; Chief Executive Officer of Access Bank, Herbert Wigwe, represented by Gregg, Executive Director of Risk Management; Chief Executive of United Bank of Africa, Kennedy Uzoka, represented by Mrs Ayodele Adeniyi, Head power (Corporate bank) among others.