The House of Representatives Committee on Renewable Energy has summoned the Rural Electrification Agency (REA), National Agency for Science and Engineering Infrastructure (NASENI), Ministry of Petroleum Resources, EU Country Representative, and other stakeholders to address issues bordering on $2 billion renewable energy grants and investments intended to boost Nigeria’s renewable energy sector.
The committee is investigating the investments following a motion by Rep. Okey-Joe Onuakalusi, who highlighted that since 2015, substantial investments and foreign grants have been directed to the renewable energy sector with limited impact on Nigeria's energy security. The probe will cover funds received between 2015 and 2024.
Rep. Victor Afam Ogene, the committee chairman,in a statement on Sunday noted that despite REA’s 2023 report of $2 billion invested in renewable energy over the past decade, significant progress in the sector remains elusive.
He emphasized that the purpose of the investigation is to ensure transparency in the handling of public resources.
The invited agencies include REA, NASENI, NASENI Solar Energy Ltd, Ministry of Petroleum Resources, the EU Representative, Union Bank Compliance Department, Federal Ministry of Power, and several other government bodies and stakeholders.
The public hearing will take place on November 5 and 6, 2024.
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