Ifeoma Malo, CEO of Clean Technology Hub, emphasized that off-grid energy, particularly solar power, offers a practical solution for Nigerians in light of the recent increase in electricity tariffs. Malo made these comments during a media briefing in Abuja on Thursday.
Following the Nigerian Electricity Regulatory Commission’s approval of a 240% tariff hike for band A customers on April 3, 2024, receiving a minimum of 20 hours of power supply, Malo observed that this escalation has underscored the need for alternative energy sources.
She highlighted the Clean Technology Hub’s collaboration with the Federal Government of Nigeria and subnational entities to formulate Renewable Energy Policy documents, emphasizing the importance of such initiatives in addressing energy challenges.
“The recent electricity tariff hike has created parity between grid and renewable electricity. A friend said he spent N9,000,000 to migrate to solar energy completely.
“Our office building is completely solarized. There are a lot of business modules that have made solar energy affordable alternatives.
“We work with the industry, Renewable Energy Association, Mini-grid Association of Nigeria, Nigeria Alliance of Renewable Energy, and other key players to make solar energy affordable for Nigerians.
“With what is happening in Nigeria now, going renewable energy makes a lot of sense”, she stated.
