Unilever, Others to Unlock Investment in Clean Energy Infrastructure in Nigeria – Business Post Nigeria

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By Adedapo Adesanya
Seven companies operating in Nigeria; AB InBev, Akamai, HP, Iron Mountain, Lady Lawyer Foundation, Rife International and Unilever, have signified their intention to support the clean energy transition by procuring clean energy in the country.
Together, the companies seek to unlock investment in clean energy infrastructure arising from commercial and industrial sector operations.
Many of these companies are already working with their supply chain partners in Nigeria and confirm the desire to support their suppliers with clean energy procurement once suitable options are available.
This collaboration will help develop robust, reliable, transparent, cost-competitive, and credible procurement options that comply with labour laws in Nigeria to help meet clean energy targets, increase energy security, and enable corporations to reduce their greenhouse gas emissions.
The Clean Energy Demand Initiative (CEDI) serves as a platform for stakeholder engagement and country partnerships and creates a venue for companies and countries to signal investment potential in clean energy, share experiences, and support each other on policy reform that contributes to affordable and resilient energy systems to drive economic growth.
Nigeria and other corporate partners have signalled support for principles to enable corporate renewable procurement, ramping up deployment and accelerating the energy transition in support of global climate goals.
CEDI creates a platform to connect countries with companies seeking to rapidly deploy clean energy to offset electricity demand in their sectors, including health, manufacturing, retail, technology, and transportation.
Through CEDI, companies can send demand signals for clean energy, and countries can share policy updates and plans that enable corporate renewable procurement and lessons with each other.
More than 75 companies have indicated investment interest in 14 countries, which could drive up to $100 billion in renewable energy infrastructure investment. In many cases, this renewable investment complements broader industrial and commercial investment.
By bringing corporations and countries together in pursuit of their climate and energy goals, CEDI advances clean energy and unlocks economic growth worldwide. It also builds on companies’ renewable energy commitments to send investment signals to countries supportive of fostering an enabling environment for corporate renewable procurement.
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Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.
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By Adedapo Adesanya
President Muhammadu Buhari has appealed to world leaders for the debt cancellation of poor countries, emphasising that the people of these nations face numerous challenges, including being able to service external debts.
Speaking at the 77th session of the United Nations General Assembly on Wednesday, Mr Buhari asked the world leaders to address what he described as the burden of unsustainable external debts.
This is coming at a time when Nigeria’s debt increased by 2.98 per cent on a quarter-on-quarter basis to N42.84 trillion ($103.1 billion) in June 2022 from N41.60 trillion ($100.07 billion) in March 2022. The country’s total external debt stock out of this was 39 per cent, amounting to $40.06 billion (N16.61 trillion).
“Nigeria, therefore, implores our global partners to do more to complement our endeavours. Indeed the multi-faceted challenges facing most developing countries have placed the ability to address their fiscal place,” he said.
“This equally calls for the need to address the burden of unsustainable external debts by a global commitment to the expansion and extension of the debt service suspension initiative to countries facing fiscal and liquidity challenges as well as outright cancellation for countries facing the most severe challenges,” he added.
Mr Buhari told the world leaders that he would be addressing the diplomatic community as President for the last time, underpinning that by this time next year, Nigeria will have a new president representing her.
He vowed to entrench a process of free, fair, transparent, and credible elections through which Nigerians elect leaders of their choice.
The President also reiterated his commitment to constitutional term limits and Nigeria’s effort to promote the rule of law and democracy in West Africa, citing the country’s support to The Gambia, Guinea Bissau, and Chad during their political impasse.
“Indeed, we now are preparing for general elections in Nigeria next February. At the 78th UNGA, there will be a new face at this podium speaking for Nigeria.
“Ours is a vast country strengthened by its diversity and its common values of hard work, enduring faith, and a sense of community. We have invested heavily to strengthen our framework for free and fair elections. I thank our partners for all the support that they have provided for our elections.
“As President, I have set the goal that one of the enduring legacies I will like to leave is to entrench a process of free, fair, and transparent credible elections through which Nigerians elect their choice,” Mr Buhari said.
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As countries accelerate the global shift away from hydrocarbon-based energy sources and towards renewables, a global research firm, Agusto & Co, has charged the Nigerian government to use policies and incentives to drive innovation in renewable energy technologies.
According to the International Energy Agency (IEA), renewables will account for about 95 per cent of the increase in worldwide power capacity by 2026, with solar photovoltaics (PV) alone accounting for more than half of the anticipated expansion.
The world’s capacity to generate electricity from solar panels, wind turbines, and other renewables will grow significantly in the next few years. In 2022, a projected $472 billion will be invested in renewable energy, 44 per cent more than in 2017, when $326 billion was spent.
However, the challenges confronting the Nigerian power sector are well documented, over-laboured and cut across the industry’s entire value chain with about 47 per cent of Nigerians lacking access to grid electricity and those who do have access face regular power outages.
Agusto & Co also warned that although Nigeria has undertaken to cut its greenhouse gas emissions by 20 per cent between now and 2030 and to attain net-zero emissions by 2060, aspirations are rather lofty considering that the country is still grappling with inadequate electricity supply from the national grid as unmet demand is estimated at approximately 20,000 megawatts (MW).
The firm notes that while grid-connected electricity supply remains the cheapest source of power in Nigeria, it is not always economically efficient to construct gas pipelines and/or transmission cables to some remote villages with very little demand for electricity.
Despite these challenges, Agusto pointed out that potential exists as abundant and diverse natural resources make it capable of producing significant amounts of clean and renewable energy (particularly solar energy) as the country is located within a high sunshine belt and has significant solar energy potential.
Agusto & Co also believes that there is a need to expand the current energy mix to include renewables.
“Renewable energy plants can be constructed in remote areas as an alternative to running several kilometres of transmission cables, which are subject to vandalism. The poor and erratic power supply from the national grid also provides opportunities for small-scale renewable projects for individual households.
“Also, a decentralised energy production system is pertinent to address the transmission and distribution challenges plaguing the Nigerian power sector, which is provided by the use of solar energy.”
Agusto & Co expects that with growing awareness of climate change and environmental sustainability, more Nigerian organisations will opt for renewables, driving their increased adoption – particularly solar energy – in keeping with the global trend.
This would place Nigeria firmly on track to effectively accomplish its national goal of increasing energy output sufficiently to overcome the domestic power supply shortfall and put itself on a solid route to meeting its international commitment to achieve zero emissions by 2060.
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By Modupe Gbadeyanka
Some experts in the public relations (PR) industry have been invited by a leading media intelligence agency, P+ Measurement Services, to share their views on a few persistent problems in the sector.
The invited resource persons would discuss the synergy between PR and measurement at the 21st edition of #EvaluatePR themed Advancing the Synergy between Public Relations and Measurement Practitioners, the company said in a statement.
Chineze Amanfo, Lead, Public Relations, 9Mobile; Sean Williams, Assistant Professor of Media and Communication at Bowling Green State University, Ohio; Maya Koleva, Head of Research and Insight at Commetric, London and David Olajide, who is a Consultant at Curzon PR, Nigeria, are the panellists lined up for this edition, the statement added.
It stated that the event would be held virtually via the Google Meet platform on Friday, September 23, 2022, at 12:00pm (West African Time).
P+ Measurement said #EvaluatePR is a platform put in place in a bid to fully evaluate and sustain communication and public relations best practices around the globe, as well as offer solutions to persistent problems in the PR industry.
#EvaluatePR is an enlightening, interactive, and informative event featuring communications, public relations, and media intelligence practitioners who will be sharing their experiences, advice, and insights on Media Intelligence, Monitoring, Research, Performance audit, Measurement and Evaluation in an interactive session.
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