Nigerians, and by extension, their businesses, expend about N7 trillion annually on power generation, a Renewable Energy expert, Mr Stephen Ogboko, has said.
Ogboko, also the Executive Director and Chief Operating Officer, Off Grid Tech Solutions Ltd., made this known at a virtual news conference in Lagos.
He spoke on the theme: \u201cAnalysing the Benefits of Technological Innovation.\u201d
According to him, this is inefficient, expensive, noisy, polluting and of poor quality.
He said that inadequate power supply had been a major challenge facing businesses in the country, forcing them to source for alternative power supply for their operations.
The executive director said: \u201cNigeria is among the countries with a very high need of electricity.
\u201cA significant amount of the economy is powered largely by small scale generators and almost 50 per cent of the population have limited or no access to the grid.
\u201cThis could be effectively tackled with the deployment of off-grid renewable energy solutions by making electricity more cost effective and environmentally friendly.\u201d
He described renewable energy from off-grid resources as sustainable and cost-effective for farmers and Small and Medium Enterprises (SMEs).<\/p>\n\n\n\n