---

---

Nigeria: Energy Demand Will Hit $300 Billion By 2030 -Sambo

Abimbola Ajani

19 November 2008

---

Abuja — Director General, Energy Commission of Nigeria (ECN), Mr. Abubakar Sambo, has said that the estimated undiscounted total investments of energy demand would hit $300 billion by the year 2030.

Sambo said the energy sector needs funding, which cannot be provided by government alone and urged the private sector and foreign investors to contribute to it.

"Government alone cannot provide this level of funding. Private sector and foreign investors must be involved," he said in his address at the opening ceremony of a three-day National Training Workshop for Capacity Building on Energy Demand and Supply Projections held in Abuja, yesterday.

Sambo said energy had a major role to play in every aspect of modern life and in national development, adding that, "inadequate supply of energy restricts socio-economic activities to basic human needs, limits economic growth and adversely affects quality of life."

He said,"the strong nexus between energy and socio-economic development made the Federal Government of Nigeria to approve, in 2003, an overall National Energy Policy (NEP) for the nation."

Also speaking at the occasion, Permanent Secretary, Federal Ministry of Energy (Power), Dr Abdullahi Aliyu, represented by Director of Electrical, Federal Ministry of Power, Dr Ngada, said "concerted efforts remain the key option, if Nigeria truly desires to combat her seemingly intractable energy crisis and achieve sustainable national energy security."

Be the first to Write a Comment!

---