March 11, 2020 – A team of local PEP researchers held a national policy conference to discuss how a production subsidy for the renewable energy sector can promote the development and use of renewable electricity in Nigeria.
The event attracted 35 attendees, including representatives of the Ministry of Power, Office of the Vice-President, National Institute for Legislative and Democratic Studies (NILDS, National Assembly), Development Bank of Nigeria, and Renewable Energy Association of Nigeria, as well as national and international NGOs, academic institutions and the media.
The team presented findings and recommendations from their PEP study that sought to assess the welfare, employment and gender impacts of policy options for renewable energy financing in Nigeria, selected under the PAGE II initiative in 2018. See PEP Policy Brief 213 for findings and policy implications.
The researchers explained that a 20% production subsidy for Nigeria’s renewable energy sector would enhance the sector’s development and significantly increase the use of renewable energy across all sectors of the economy and in households. Furthermore, the team showed that financing the subsidy through government deficit or borrowing can increase GDP and reduce unemployment.
The Deputy Director of the Renewable Energy and Rural Power Access Department at the Ministry of Power congratulated the team for their work. He stated that the Ministry will further collaborate with the research team to revise and update the National Renewable Energy and Energy Efficiency Policy (NREEEP), using their findings as a key input.
Additionally, the Director of the Department of Economic Development and Social Studies at the NILDS said that the Institute will use the team’s findings to make policy recommendations to the relevant committees in the National Assembly.
Several journalists attended the event, including representatives of The Punch and Thisday, daily national newspapers, who reported from the event.
The research team organized the event with financial and advisory support from PEP.