How Price Of Solar Panels Will Reduce — Minister

Minister of Science and Technology, Dr. Ogbonnaya Onu has said that local production of solar cells will slash the price of solar panels by 60 percent.

This was contained in a statement by the Head, Press and Public Relations of the ministry, Ms. Josephine Ademu, on Friday in Abuja.

Onu, during a virtual meeting with Mr. Francesca Camera, Director-General, International Renewable Energy Agency (IRENA), said that the production would also help transform Nigeria’s economy.

According to him, the production of indigenous solar cells will have a positive impact on many industries in the country.

He sought the assistance of IRENA on institutional capacity building for research in enhancing green hydrogen energy, adding that Nigeria has immense gas reserves.

He advised that renewable energy should be fully exploited as solar energy would enable rural communities to have access to sustainable electric power.

The minister further said that the activities of Nigeria as a member nation of the agency would help make renewable energy more available.

“We want to make our solar cells in Nigeria; more foreign investors should be encouraged to come into Nigeria, which has a huge market of 200 million people,” he said.

Onu noted that the country was committed to ensuring the protection and preservation of the planet for future generations.

He assured that Nigeria would participate and fulfill its obligations as a member state of IRENA.

Earlier, Camera commended the country’s commitment to the agency adding that IRENA would find ways to boost Foreign Direct Investment (FDI) into Nigeria.

He said that the agency would collaborate further with Nigeria in developing renewable energy and ways.