The United Nations Development Programme (UNDP) has revealed that Nigeria loses over N2 billion every year due to unreliable electricity, demanding urgent energy sector reforms.
The UNDP Resident Representative for Nigeria, Elsie Ataffuah, , made the disclosure during the First National Legislative Conference and Expo on Renewable Energy held in Lagos, organized with Nigeria’s House Committee on Renewable Energy.
Ms Ataffuah blamed poor policy implementation for Nigeria’s persistent power crisis and emphasised the need for stronger support for renewable energy adoption.
To bolster power and energy supply, experts at the event called on the government to enact policies attracting private renewable energy investment, while also addressing the potential barrier of high investment costs.