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Sunday, 19 November 2017

Energy and Economy-THE TASTE OF THE PUDDING IN 5 MINUTES WITH IDRIS DANLADI (Vol 13) | @HIFIDELITY_NG


Following the release of our previous episode where we discussed the Nigerian Economy we bring to you Energy and Economy.
Energy provides an essential ingredient for almost all human activities, access to clean modern energy services is an enormous challenge facing the African continent because energy is fundamental for socioeconomic development and poverty eradication. Today, 60% to 70% of the Nigerian population does not have access to electricity. There is no doubt that the present power crisis afflicting Nigeria will persist unless the government diversifies the energy sources in domestic, commercial, and industrial sectors and adopts new available technologies to reduce energy wastages and to save cost. This review examines a set of energy policy interventions, which can make a major contribution to the sustainable economic, environmental, and social development of Africa's most populated country, Nigeria. Energy efficiency leads to important social benefits, such as reducing the energy bills for poor households. From an economic point of view, implementing the country's renewable energy target will have significant costs, but these can partly be offset by selling carbon credits according to the rules of the ‘Clean Development Mechanism’ agreed some 10 years ago, which will result in indirect health benefits.

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