Former President Olusegun Obasanjo says Nigerians need to
adopt renewable energy because it is cheap, environment-friendly and can help
generate profit.
He said this on Friday at the inauguration of the 2MW solar
power project for the Olusegun Obasanjo Presidential Library in Abeokuta, Ogun
state.
Recently, Nigerians raised the alarm over the federal
government’s plan to remove fuel subsidies by 2022.
Obasanjo is of the opinion that renewable energy is the
viable alternative and by investing in it and reducing emissions, Nigeria can
earn profits from carbon credits.
He said the Nigerian government needs to commit to
generating power from renewable energy and clean carbon-free sources.
“Today, I am speaking to you in a facility powered by the
sun – solar energy. It is the way of a future (Jimmy) Carter envisioned all
those years ago. It will help build the future we want,” he said.
“The Olusegun Obasanjo Presidential Library solar power
project is a reflection of our commitment to clean and renewable energy and is
the single largest investment this not-for-profit organization has made.
“As large an
investment as it is, it is remarkably cost-effective. It costs less than two
and half years supply of diesel to power our generators. So in diesel terms, it
pays for itself in less than three years. So in effect, the electricity it
produces after three years is almost at no cost.
“In addition, because it is not emitting any greenhouse
gases that diesel generators do, it has the potential to earn carbon credits
which are currently priced at US$ 40/ton. Based on the estimated annual
production of 2,307,000 kilowatt hours per year, we can expect to earn nearly
US$39,589 in carbon credits per year.
“Combined, this solar facility can generate electricity,
generate revenues that contribute to the upkeep of the library, help save the
planet by making a small contribution to climate mitigation and adaptation,
provide shade for parking, and be an inspiration for future generations. Who
says you can’t make a profit out of saving the planet?
“We hope that by committing to consume renewable energy we
inspire others to follow and still inform others to do their bit for the
environment. Our great nation also needs to commit to producing our electricity
from renewable energy and truly clean carbon-free sources. This goal is
achievable, affordable and transformative. It represents a challenge to all
Nigerians – in every walk of life, to our political leaders, entrepreneurs,
innovators, engineers, and to every citizen.”
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