NIPC partners EU, German government in boosting investments in Nigeria

NIPC partners EU, German government in boosting investments in Nigeria

NIPC partners EU, German government in boosting investments in Nigeria

Philip Clement, Abuja

In a bid to boost investment opportunities in the country, the federal government in partnership with the European Union and German government has launched an online platform to fast track operations, Daily Times reports.

The federal government represented by Federal Ministry of Power (FMP), Rural Electrification Agency (REA) and Nigerian Investment Promotion Commission (NIPC), launched the One Stop Investment Platform (OSIP) for Renewable Energy (RE) and Energy Efficiency (EE) in Nigeria, with financial support of the European Union (EU) and the German Government.

The platform was launched within the framework of the Nigerian Energy Support Programme (NESP), a technical assistance programme, co-funded by the EU and the German Government, and implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) in collaboration with FMP.

The platform (greenenergyinvestment.com.ng) is a digital platform which provides easy access to relevant information for investments in renewable energy and energy efficiency in Nigeria.

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 Built through the cooperation of public, private and financial sector partners, the platform presents technical, regulatory, and economic information aimed at de-risking projects and scaling up investments in the sector.

In a welcome address, the Executive Secretary of NIPC, Ms. Yewande Sadiku expressed the commitment of the Commission to promoting increased investments in the renewable energy and energy efficiency sector in Nigeria. According to her, the platform will help potential investors to get easy access to the high quality information they need to make faster and better informed decisions about investing in Nigeria’s green economy.

The Director of Renewable and Rural Power access of FMP, Mr. Engr. Faruk Yusuf Yabo, expressed the hope that the platform would help improve the technical and economic viability of the Nigerian power sector for increased investments in RE/EE projects to promote power supply.

Also speaking, the Head of Cooperation at the EU Delegation to Nigeria and ECOWAS, Mr Kurt Cornelis, said the platform would be of immense benefit to the critical sector of the Nigerian economy.

“We are glad to support the Nigerian government in providing interactive opportunities for investors to assess the viability of projects in Nigeria through the provision of relevant project and contact information in the sector,” he said.

In his remarks, the Managing Director of REA, Mr. Ahmad Salihijo restated the importance and relevance of the One-Stop Investment Platform to the industry, noting that the initiative would help boost investments and enhance energy access for economic development.

The OSIP includes an overview section about the Nigerian renewable energy and energy efficiency sector and investment opportunities, according to Mr. Duke Benjamin, Head of NESP. “Furthermore, the platform includes a networking tool for investors to interact with public and private stakeholders and an energy efficiency calculator for commercial and residential buildings and industries”, he explained.

The information on the platform will be updated regularly to reflect the current state of listed projects and opportunities for investments in the Nigerian electricity sector.

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