The United Nations Development Programme (UNDP) has raised an alarm over the staggering economic losses Nigeria suffers yearly as a result of poor electricity supply. According to the UN agency, the country loses over N2 billion every year due to its inadequate and unreliable power infrastructure, a situation that continues to cripple critical sectors of the economy, especially agriculture.
This was revealed on Monday by the UNDP Resident Representative in Nigeria, Ms. Elsie Attafuah, during the maiden edition of the National Legislative Conference and Expo on Renewable Energy held in Lagos. The event, convened by the House of Representatives Committee on Renewable Energy in partnership with the UNDP under its Parliamentary Development Programme, brought together stakeholders from both the public and private sectors to deliberate on Nigeria’s energy future.
Attafuah noted that the persistent power supply challenges have led to the widespread waste of agricultural produce, including yams, fruits, and vegetables, thus affecting food security and economic sustainability. She added that poor electricity has also deepened the unemployment crisis, particularly among young people in rural areas where agriculture is the primary occupation.
In response to this crisis, she highlighted that UNDP has commenced interventions by deploying power-generating infrastructure to farming communities in northern Nigeria. These initiatives, she stated, are already yielding positive outcomes, with increased productivity and earnings among beneficiaries.
Speaking at the event, the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, described Nigeria’s transition to renewable energy as no longer optional but imperative. He stressed that the House is committed to aligning Nigeria with the global shift towards sustainable and low-carbon energy systems.
Abbas explained that the conference signifies the National Assembly’s readiness to contribute meaningfully to international climate goals, while addressing domestic energy insecurity. He pointed out that 2024 alone has seen a global addition of 585 gigawatts in renewable energy capacity, accounting for 92 percent of new electricity generation worldwide. Similarly, he noted that $1.7 trillion out of the $2.8 trillion in global energy spending in 2023 was channeled into clean energy and allied technologies.
While acknowledging the unique position of Nigeria as a major oil-producing country, the Speaker maintained that the nation must diversify its economy to remain competitive in the face of declining global demand for fossil fuels. He revealed that the National Assembly has taken bold steps to encourage investment in renewable energy, including the recent passage of tax reform bills which remove Value Added Tax (VAT) on renewable energy components and compressed natural gas (CNG).
Furthermore, he said lawmakers are working to give legal backing to the federal government’s Renewable Energy and Energy Efficiency Policy, which was introduced in 2015 but remains inadequately implemented. Abbas also emphasised the need to expand access to clean cooking solutions as part of efforts to address environmental degradation and public health challenges.
In his contribution, the Chairman of the House Committee on Renewable Energy, Hon. Victor Ogene, said the conference was timely and vital to reduce Nigeria’s dependence on fossil fuels. Representing Ogbaru Federal Constituency, Ogene stressed that embracing renewable energy is a catalyst for industrial growth, employment creation, and sustainable national development.
State government representatives from Abia, Enugu, and Osun also lent their voices, calling for accelerated efforts to improve energy access and establish a dependable electricity infrastructure. They agreed that without a strong and sustainable energy system, development goals will remain out of reach.
Among other notable speakers were the First Deputy Speaker of Ghana’s Parliament, Prof. Benard Afliator (who stood in for Speaker Alban Bagbin); Executive Director of INCLUDE Knowledge Platform, Anika Altaf; Abia State Commissioner for Power and Utilities, Mr. Ikechukwu Monday; Special Adviser on Energy, Oil and Gas to the Enugu State Governor, Chief Kingsley Nnaji; and Prof. Chinwe Ogbuagu, Climate Change Consultant to the Osun State Government.
The conference ended with a renewed call for stronger collaboration among federal, state, and international stakeholders to unlock Nigeria’s vast renewable energy potential and build a resilient energy future for its citizens.
