18th August, 2016
The Federal Government has set a target to expand reliance on renewable energy to 50% of its power output by 2020, says Vice President Yemi Osinbajo.
Speaking on Thursday at the Presidential Villa while receiving a delegation led by the Indian High Commissioner in Nigeria, Mr. Nagabhushana Reddy, Osinbajo explained that “we are doing some expandable work in solar energy adding about 1000MW of solar. We are looking at 50% reliance on renewable energy sources by 2020.”
Observing that the Buhari presidency is determined to improve access to electricity for the people, the Vice President added that solar is one of the options being actively considered.
Welcoming the Indian High Commissioner, Osinbajo said he has resumed work in Nigeria at a time of “incredible opportunity.”
He welcomed the $100m credit facility from India to be injected into the Nigeria economy, especially in the power sector and called for more active engagement between both countries.
Osinbajo added that opportunities exist in agriculture and technology for Nigeria and India to cooperate, saying that diplomatic and economic relationship between both countries had been extremely good.
Earlier, Reddy said his country supports the plan of the Buhari administration to “make the Nigerian economy strong.”
He also welcomed the recently launched “Green Alternative,” the agricultural road map of the Federal Government, saying India has a keen interest in expanding domestic agriculture production in Nigeria and also in making quality agricultural products for exportation