Vice President Yemi Osinbajo has noted that the federal government has set a target to expand reliance on renewable energy to 50 per cent of its power output by 2020.
Speaking at the Presidential Villa, Abuja, while receiving a delegation led by the Indian High Commissioner in Nigeria, Mr B. Nagabhushana Reddy, he said, “We are doing some expandable work in solar energy adding about 1,000MW of solar. We are looking at 50 percent reliance on renewable energy sources by 2020.”
He added that solar is one of the options being actively considered. Welcoming the Indian High Commissioner who recently resumed in Nigeria, he said he had resumed work in Nigeria at a time of “incredible opportunity.”
Osinbajo welcomed the $100m credit facility from India to be injected into the Nigeria economy, especially in the power sector, and called for more active engagement between both countries.
He added that opportunities exist in agriculture and technology for Nigeria and India to cooperate, stating that diplomatic and economic relations between both countries had been “extremely good.”
Earlier, the Indian High Commissioner had said his country supports the plan of the Buhari administration to “make the Nigerian economy strong.”
He also welcomed the recently launched “Green Alternative,” the agricultural road map of the federal government, saying India has a keen interest in expanding domestic agric production in Nigeria and also in making quality agric products for exportation.
