Tellco Europe Nigeria chairman Prof Wale Omole yesterday said alternative sources of energy was needed to spur economic growth.
He said power was a critical component of the nation’s infrastructure, adding that Nigeria can bridge the energy gap through renewable energy.
“Renewable energy is an inextricable growing pathway of the future supply mix now disparagingly needed for Nigeria, without which future sustainable economic growth and development will be a mirage,” he said.
Omole spoke in Lagos at the inauguration of the off-grid solar power solutions for Micro, Small and Medium Scale Enterprises (MSMEs) by Tellco Europe and its Nigerian partner.
“It is sad to note that, significant amount of the economy is continually powered largely by small-scale generators (10–15 GW) and more than 50 per cent of Nigeria’s population have limited or no access to the grid.
“Most citizens of this country, power their businesses and homes, depending on fossil fuel at a frightening cost of nearly $14 billion or N5 trillion yearly, with added negative public health and other socio-economic hazards!” he said.
According to Omole, the Rural Electrification Agency (REA), had acknowledged the need for the development of robust off-grid alternatives to complement the grid network.
“Tellco Europe Nigeria is unveiling our strategic roadmap for up-scaling the powering of MSMEs – the engine room of economic transformative growth and development, beyond the 30 per cent scenario, through our well-tested off-grid solutions that are programmed to unlock a never yet seen scale of massive powering of this sector in a most efficient, affordable (pocket friendly) and sustainable manner,” he said.
Co-Founder TellcoSol Switzerland Dr Omar Fischer said the solar power units were affordable, and were designed to empower the local communities.
He said the international partners were open to building an assembly plant in Nigeria and in transferring the technology.