The International Renewable Energy Agency (IRENA), in a new report, has revealed that investment in renewables can provide nearly 60 per cent of Nigeria’s energy demand by 2050.
The report said such an investment is cost-effective, as it will deliver economic growth and jobs while achieving global climate and sustainable development objectives.
It added that renewable energy sources will enable up to 40 per cent savings in natural gas and 65 per cent in oil needs at the same time.
The report, titled: Renewable Energy Roadmap Nigeria, noted that: “With a growing population and a range of socio-economic challenges, Nigeria requires sustainable energy sources to meet the growing needs for all the sectors of its economy and achieve universal access to modern energy services.”
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