Economy

Nigeria’s off-grid solar value to hit $17bn in 2040

Nigeria’s off-grid solar has an expected market growth capacity compound annual growth rate of 26 per cent between 2020 to 2040 and is projected to be worth nearly $17bn by 2040,Chief Executive Officer, Seplat Energy Plc, Roger Brown, has said.

He disclosed this ahead of his company’s

host its second edition of the Seplat Energy Summit expected to be declared open by Vice President Yemi Osinbajo.

He said his   company  was committed to energy transition and intended to be a major player in the renewable energy space,stressing that the summit would bring dynamic leaders in their fields to examine the various aspects of energy transition.

He added:“Nigeria will chart its energy transition journey, but improving access to energy will be essential to its economic growth.Given Nigeria’s increasing importance in Africa, the success or failure in addressing this challenge will have global implications.

“The sun is Nigeria’s most abundant natural resource and the advancement in technology is improving its cost competitiveness and efficiency in power generation”

Meanwhile, Seplat Energy Plc, has commissioned the project for power supply to Oben Cottage Hospital from its Oben gas facility at Oben Orhionmwon Local Government Area of Edo State, as part its  continuous community development programmes.

In his remarks, Mr. Roger Brown, Chief Executive Officer, Seplat Energy, represented by Mr. Folorunsho Afolabi, Managing Director, Seplat West Limited, said: “The company has worked assiduously to put in place a reliable option for potentially uninterrupted 24-hours power supply to the Hospital for the long-term. To ensure a more sustainable constant power supply we continued with our plan to supply electricity to the hospital from our facility here in Oben.”

He added: “Seplat is therefore happy with this epoch-making commissioning ceremony. The project is designed to provide the Cottage Hospital uninterrupted power supply directly from our Oben new Field Logistics Base and thus enable the hospital to provide adequate health care services to Oben Field Communities of Oben, Iguelaba, Ikobi and Obozogbe N’Ugu and its environs.”

Seplat had earlier ensured reconnection of the Hospital to the national grid in addition to providing power generating sets to the hospital. The Company overhauled the generating sets at the hospital as back-up to power supply and provided diesel regularly to power the generating sets.

The Seplat CEO, who commended the people of Oben for their cooperation and partnership over the years, stressed that “This represents another milestone with regards to our Company’s unwavering commitment to adding positive value to the lives of inhabitants of our host communities.”

He  harped on the company’s resolve to adding value to the community, as it has commenced the renovation of the doctor’s quarters of the Oben Cottage hospital, of which it had, in the past, renovated the cottage hospital itself.

The Director, External Affairs and Sustainability, Seplat Energy, Dr. Chioma Nwachuku, in her message, alluded to Seplat Energy’s drive for continuity and sustainability, noting that with the company’s corporate philosophy of adding value to the host communities where it operates, “we are determined as a responsive and responsible organization to contribute to the development of our host communities.

“We are optimistic that the supply of gas generated power from our new Oben Field Logistics Base through a direct dedicated power line to the hospital will create immeasurable values to our community members even as we wish all excellent health always.”

Commenting, Mr. Johnbull Omokaro- Secretary Oben Community Speaking on behalf of Oben Field Communities of Oben, Ikobi, Iguelaba, Obozugbe-nugu communities, commended the NPDC/Seplat Energy JV for actualizing the project and restoring the people’s hope.

The Chairman / Managing Director, Edo State Oil and Gas Producing Areas Development Commission (EDSOGPADEC) – Pastor Kennedy Osifo, represented by the Commission’s Chief Accountant, Mrs. Obasuyi Amen, expressed deep appreciation to Seplat Energy for the project and for all the sustainable community development programmes  in the  host communities where the company operates.

The project for power supply to Oben Cottage Hospital from its Oben gas facility is in sync with Seplat’s Corporate Social Responsibility (CSR) philosophy, which is premised on improving the wellbeing of inhabitants host communities of operation. Seplat has also continued to provide health improvement programmes the Eye Can See programme targeted at patients with visual impairment offering surgery for cataract related visual impairment; the Safe Motherhood (a health programme for pregnant women and nursing mothers), amongst others. The Oben Field Communities and other communities are beneficiaries of these programmes and other community projects.

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