The Speaker of the House of Representatives, Yakubu Dogara, has revealed that Nigerians spend an upward of $5 billion on generator annually in the country.
The speaker who noted that the whopping sum is unacceptable revealed that the house would support the Executive to find a permanent solution to the power problem in the country.
Dogara while speaking on Tuesday in Abuja at the the public hearing organised by the House of Representatives Committee on Power on three Bills pending before the lower chamber explained that the amount spent by Nigerians on generators as an alternative to the power sector in the country is too much adding that lawmakers are currently reviewing some of the nation’s energy laws in order to help it best exploit other renewable sources of energy within the legal framework.
Dogara who expressed dissatisfaction at the power sector in Nigeria which he attested to as the single most important driver of the nations economy, said: “Indeed, it is difficult, if not impossible, to imagine modern life without power. Our industries and factories need electricity to operate, and also our offices, homes and businesses.”
He continued: “It is estimated that Nigerians spend about $5 billion yearly to fuel their generators.
“This is an unacceptable situation and the House of Representatives stands ready to support the Executive arm of government to put a stop to this state of affairs.
“Renewable energy is a source of clean energy which is environment-friendly and is crucial to the economy of the future.
“We can only be self-sufficient in the energy field when we combine all our energy resources such as wind, solar, hydro, bio-mass, bio-fuel, landfill, sewage gas, solid waste, geo-thermal energy, ocean energy among others.
“Renewable energy sources are natural and often replenish themselves. Nigeria needs to invest more in renewable energy as fossil fuel is a diminishing asset.
“An appropriate legal framework to exploit renewable energy which is nature’s gift to mankind is not adequate in Nigeria.
“This makes it difficult to organise the sector in a commercially viable matter. Herein lies the merit and strength of this Bill under consideration.”