Obasanjo: To Build a Future, Nigeria Must Commit to Renewable Energy

Former President Olusegun Obasanjo demanded Wednesday that Nigeria commit to generating electricity from renewable energy and carbon-free sources in order to secure the country’s future.

He said this in Abeokuta, Ogun State, at the opening of the Olusegun Obasanjo Presidential Library’s 2MW solar power plant.

Renewable energy, according to Obasanjo, is “cheaper and better for the environment.”

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“Today, I am speaking to you in a facility that is powered by the sun — solar energy,” he explained. It’s the path that (Jimmy) Carter foresaw all those years ago. It will contribute to the creation of the future we desire. The solar power project at the Olusegun Obasanjo Presidential Library reflects our dedication to clean and renewable energy and is the single largest investment our non-profit organization has made.

“For such a significant expenditure, it is astonishingly cost effective. Our generators cost less than two and a half years’ worth of diesel. In terms of diesel, it pays for itself in under three years. As a result, the electricity it generates after three years is essentially free.

“Moreover, because it does not generate greenhouse gases like diesel generators, it has the potential to earn carbon credits, which are now priced at US$40 per ton.”

We can expect to earn nearly US$39,589 in carbon credits per year based on an estimated annual production of 2,307,000 kilo Watt hours.

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We will be able to create revenue by monetizing this facility through targeted sponsorships and marketing collaborations.

“Combined, this solar facility may create electricity, generate revenues that contribute to the care of the library, help save the world making a tiny contribution to climate mitigation and adaptation, give shade for parking, and be an inspiration for future generations. Who says conserving the environment can’t be profitable?”

Obasanjo, 84, said he “is a responsible steward for nature,” adding, “the facility symbolizes one of the enduring personal legacies I am proud to call my own.”

Continuing, the former president said, “The recently concluded UN Climate Change Conference of the Parties (COP26) was attended by over 1,000 universities from 68 countries, who witnessed powerful speeches and renewed commitments to reach Net Zero emissions by 2050, in some cases 2060 and in Nigeria’s case 2070. \s“

This is the greatest time for all Nigerian colleges to sign-up to the United Nations’ Race to Zero initiative, and pledge to lowering their carbon emissions to zero by 2050 at the latest.

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“We hope that by pledging to consume renewable energy we inspire others to follow and still inform others to do their bit for the environment. Our magnificent country must also commit to generating electricity from renewable energy and carbon-free sources. This objective is attainable, cost-effective, and transformational. It represents a challenge to all Nigerians – in every walk of life, to our political leaders, entrepreneurs, innovators, engineers, and to every citizen.

“We’re in the midst of a generational shift.” I’m appealing to each of you to join me in constructing this future. Our ability to succeed is contingent on our willingness as a people to go on this path. We have a responsibility to care for the world and everyone who lives on it. We must achieve that by making our energy system clean, efficient, cost-effective, and long-term.”