Chief Executive Officer of Extreme Mutual Limited, Bome Ojoboh, has said that the biggest challenge for solar energy adoption in Nigeria, particularly in rural areas, is lack of infrastructure and affordability constraints.
He stated that despite the growing awareness, many rural communities still struggled with high upfront costs and a lack of technical knowledge for installation and maintenance.
According to him, unreliable road networks and grid connectivity make it harder to set up solar farms. He suggested that financing options like payas-you-go models or subsidies could mitigate this.
He spoke in an interview with a medium, which was accessed by New Telegraph yesterday. Ojoboh said: “Given my extensive experience in project management and construction, I saw solar energy as a viable means to address Nigeria’s persistent energy challenges, especially in off-grid areas.
Solar energy can transform not just businesses but entire communities by providing clean, reliable electricity. “To boost private investment, the Nigerian government could offer more tax incentives and grants for renewable energy companies.
The Nigerian Energy Regulatory Commission (NERC) has made strides with initiatives like the Rural Electrification Fund, but more can be done.
Streamlining regulatory processes, creating public-private partnerships (PPPs), and reducing import duties on renewable energy components will attract more private investors.” He said solar energy could be a game changer for Nigeria’s power grid.
He noted that as of 2022, Nigeria’s grid capacity was only 12,500 MW, but actual power generation hovered around 4,000 MW. He opined that solar energy could supplement this deficit, especially in regions far from grid infrastructure.
Mini-grid and off-grid solar solutions offer alternative sources of power to underserved communities and reduce the burden on the national grid.