This Policy removes the key barriers that put renewable energy and energy efficiency at economic, regulatory or institutional disadvantages relative to other forms of energy in Nigeria. Through this Policy, renewable energy resources will be developed, supplied and utilised within the economy for both on-grid and off-grid energy solutions, benefitting rural electrification. There is recognition that poverty mitigation and environmental protection are hindered by the continued predominance and inefficient use of oil and natural gas in meeting Nigeria's energy needs. Relevant Ministries, Departments and Agencies of Federal Government of Nigerian are given power to adopt and develop regulations and economic instruments to improve technological capabilities of renewable energy companies and increase private sector participation. There should be state and local government units responsible for renewable energy and energy efficiency matters. This Policy sets targets for hydropower, biomass, solar electricity and wind.
By mandating the implementation of the national renewable energy action plan (NREAP) and a national energy efficiency action plan (NEEAP), this Policy marks the initial steps of aligning Nigeria's renwable energy and energy efficiency policies with the ECOWAS renewable energy (EREP) and ECOWAS energy efficiency policies (EEEP). The NREAP 2015-2030 and NEEAP 2015-2030 were released in 2016 to implement this policy.
