By Mercy Aikoye
The House of Representatives Committee on Renewable Energy has invited stakeholders to an investigative public hearing on the $2 billion renewable energy grants and investments in Nigeria. The hearing, scheduled for November 5th and 6th, 2024, aims to probe the utilization of these funds, which have failed to yield significant improvements in the energy sector.
According to Hon. Victor Ogene, Chairman of the Committee, the investigation will cover the period from 2015 to 2024. The House of Representatives mandated the Committee to investigate Ministries, Departments, and Agencies involved in renewable energy investments and grants.
The Rural Electrification Agency reported that Nigeria attracted over $2 billion in renewable energy investments in the past decade, yet the electricity generation and supply system remains dysfunctional. This has raised concerns about the integrity of procurement and execution processes.
The investigation seeks to promote transparency and objectivity in handling government resources. Hon. Ogene emphasized that the probe is not intended to witch-hunt but to ensure accountability.
Lawmaker Okey-Joe Onuakalusi sponsored the motion leading to the investigation, highlighting the threats poor electricity generation, transmission, and distribution pose to Nigeria’s industrial and technological development.
Successive governments have made substantial investments and attracted foreign grants to develop the renewable energy sector. Notably, the World Bank approved a $750 million facility in December 2023 to provide electricity to 17.5 million Nigerians through distributed renewable energy solutions.
The invited stakeholders include various government agencies, ministries, and organizations, such as the Rural Electrification Agency, Nigerian National Petroleum Company Limited, and the European Union.
The Committee appreciates the cooperation and submissions from the European Union and other donor agencies.
The investigation’s outcome is expected to shed light on the utilization of renewable energy investments and grants in Nigeria.
