CPPE: Nigeria not ripe for ban on importation of solar panels

The Centre for the Promotion of Private Enterprise has raised concerns about Nigeria's proposed plan to ban the importation of solar panels, stating that the country is not yet ready for such a restriction. The move to halt the ban comes as a response to the glaringly inadequate domestic production capacity in Nigeria, which could exacerbate the nation's existing energy crisis. Muda Yusuf, Director at the Centre for the Promotion of Private Enterprises, emphasized the importance of accessibility to renewable energy solutions in light of the current high costs associated with adoption. Yusuf highlighted the prohibitive acquisition costs of solar panels, batteries, and inverters, making it challenging for both businesses and citizens, especially the middle class, to transition to solar energy alternatives. He stressed the need for policies that promote affordability and accessibility to ensure widespread adoption of renewable energy solutions across various sectors of society, including small and medium enterprises (SMEs) and rural communities. The director urged the government to consider reducing costs and providing concessional financing to drive investment and improve energy access for all citizens. In discussing the future energy mix for Nigeria, Yusuf underscored the country's abundant gas resources, which he believes should be leveraged more significantly alongside renewable energy sources. He highlighted the need to attract more investment in the gas sector to bolster industrialization and enhance energy availability on the grid. Yusuf also advocated for a balanced approach that combines grid-based energy solutions with off-grid renewable energy options to cater to diverse energy needs in the country. Overall, Yusuf emphasized the importance of diversifying Nigeria's energy mix to ensure sustainable and reliable access to energy for all sectors of society.