A former president, Olusegun Obasanjo, has charged the Federal Government to give priority to renewable energy and clean carbon-free sources of energy.
Obasanjo declared that the goal of producing Nigeria’s electricity from renewable energy ‘is achievable, affordable and transformative’.
The former president said these on Friday while commissioning a 2MW solar power project at the Olusegun Obasanjo Presidential Library, Abeokuta.
Speaking on the project, Obasanjo described it as ‘the single largest investment this not-for-profit organisation has made’.
He explained the OOPL solar power project was a reflection of the organisation’s commitment to clean and renewable energy.
He said, “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 is a generational moment. I’m asking each of you to join me and build this future. Our success depends on our willingness as a people to undertake this journey.
“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.
“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 $40 per ton. Based on estimated annual production of 2,307,000 kilo watt hours per year, we can expect to earn nearly $39,589 in carbon credits per year.”
In his remarks, the Deputy Managing Director of Dantata Solar Limited, Najeem Animasahun, said 70 per cent of the materials used for the execution of the project as well as the human resources were sourced from Nigeria.
He said the project cost between N1.5bn and N2bn with 25 years guarantee.