Invest in Renewable Energy in Africa

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The Vice President of Nigeria, Professor Yemi Osinbajo tweeted before the launch of West African Energy Leaders Group at Abidjan:

How do President Buhari plans to change our energy poverty and translate our energy potential to catalyst for growth?

* He knows that lamps, candles and open fires can’t be our source of lighting
* He is aware that darkness isn’t an option as it stops productivity and encourages crime

The answer to the million dollar question of how to provide energy for many citizens who live on N200 per day is off grid and renewable energy.

However, while oratorically speaking at the maiden summit of the African Energy Leaders’ Group held in Cote D’Ivoire on Tuesday 30th June 2015, Prof. Osinbajo, encouraged fellow African nations to re-focus their attention and resources in the development of renewable energy as major source of energy especially in the production of electricity. In his speech the Vice President conceded to the current huge cost surrounding generation, distribution and marketing of solar power, but assures that with all the investments in the world and creativity coming into place, the cost is fast dwindling.

Apart from it being a major source of power, it also portends a win-win situation anywhere in the world. He welcomed the private sector and foreign investors to boost investment in Renewable Energy while propagating reduction in the level of bureaucracy in the continent in order to attract both local and international investment.

Reinforcing his stance, he said ‘there is no reason at all why renewable energy should not be our focus in Africa, in west Africa, in the next few years.’

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