Speaking from his New York residence in the United States (US), where he made this known, Costa, who’s a former researcher of the United States Department of Agriculture (USDA), lamented how businesses are suffering due to erratic power supply, and fuel scarcity, which he noted is affecting most sectors of the economy.

“This year, a significant number of businesses had been left with no choice than to suspend their operations, and those that are still running, are doing so, recording losses in Nigeria. The existing erratic power supply in Nigeria, and the fuel scarcity, has so far made the country’s business hostile for investors and economic contributors. Sadly, the end users bear the brunt as well. 

“This year alone, diesel prices increased by 210%, the cost of kerosene soared by no less than 118%, and the price of gas by at least 86%. Sadly, the prices of these commodities continued to rise, and I’m afraid of what it would become in a year from now,” Costa lamented.

Maintaining that solar has scientifically and economically proven to be a reliable and sustainable alternative energy source, Costa expressed an opinion that it is the best for the Nigerian government to leverage in combating its power challenges. 

According to Costa, who cited a report by the International Renewable Energy Agency (IRENA) that solar projects, and other alternative energy sources saved countries $82 billion in fossil fuel costs, they will continue to provide badly-needed relief from rising electricity bills, such that businesses will thrive and the nation’s economy will flourish.

“Talking about the benefits of solar energy, the impacts it has on the environment are enormous. Aside from the fact that it reduces energy bills, which is good for corporate bodies and small and medium enterprises (SMEs), it also provides grid security, enables job creation, independence from other energy sources, and the enablement of maximum usage,” Costa added.
The ITASPA chief, therefore, tasked President Muhammadu Buhari to consider investing significantly in alternative energy, as he expressed confidence that should that be done, more investors will come into Nigeria, and businesses will flourish.

The post Philip Costa To Buhari: Invest N239bn Power Budget Allocation In Solar appeared first on Business News in Nigeria.

In an interview with journalists where he charged the President, Costa lamented how Nigeria has been depending primarily on conventional electrical energy, which according to him, is no longer sufficient to fulfill the needs of the citizenry.

Costa pointed out that with the frequent collapse of the country’s national grid, the Nigerian government needs to explore alternative energy sources for the benefit of everyone.

His words: “Power supply has over the years worsened, and no thanks to the consistent collapse of the national grid, which the government often blames on vandalism. However, for Africa’s largest population which numbered over 200 million people, climate-friendly solutions that are sustainable need to be considered.

“It is not enough for us to keep lamenting and putting blame on challenges that have existed for long. It is high time for the Nigerian government to prioritise alternatives for the sake of addressing insecurity and the economic challenges at large.

“For every Nigerian household to have electricity, the government needs to admit that the current fossil-fuel-driven grid is not sufficient for this outcome. Hence, alternative energy is the solution, and we hope that the entire nation can turn to it in the fullness of time, not only to save money but to help solve the climate crisis now gripping the world.”

Costa, who’s a returned Peace Corps Volunteer and a former research technician with the United States Department of Agriculture, also spoke glowingly of ITASPA, saying the group houses professionals that are in the country to help Nigeria combat her erratic and insufficient power supply challenges.

Corroborating Costa’s solution to Nigeria’s power challenges, Blandina Musvoto who’s also a team member of ITASPA, noted that all countries around the world, including Nigeria, need a power supply to meet basic needs.

She, however, noted that alternative energy sources, particularly solar, will best address the lingering issues for Nigeria.

“All countries need the energy to meet basic human needs such as cooking, heating, etc. The use of fossil fuels to meet these demands has increased, hence more carbon emissions.

“Solar panels, on the other hand, do not release products that harm the environment. So, migrating to solar energy eases reliance on fossil fuels such as coal, natural gas, and oil which are proven to be contributors to climate change,” she added.

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