No competition at present in Nigeria’s renewable energy market – REAN president

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The president of the Renewable Energy Association of Nigeria (REAN), Mr. Segun Adaju, has said that stiff competition to gain and retain market shares in Nigeria’s budding renewable energy industry do not exist at the moment, and as such operators should be free to bond and share information and data that could help the market develop, OGN reports.

Adaju, who is the interim head of the REAN – an umbrella association of all renewable energy operators in Nigeria, stated at the 2017 edition of the annual Power Nigeria Conference and Exhibition in Lagos, that with Nigeria’s huge electricity deficit, and prospects in distributed renewable energy, operators in the sector would have a lot of market shares to pick up without harmful competition that usually defines capitalism.

Existing indices show that about 89 million Nigerians are yet to get connected to the national electricity grid. REAN however stated in its objectives that it will: “promote strategies that will improve the contribution of renewable energy up to 40 per cent of the national energy mix by 2030.”