SEREC DECRIES DELAY IN NPERA BILL ASSENT

The South East Renewable Energy Coalition (SEREC) has expressed deep concern over the delay in the assent of the Nigerian Petroleum and Renewable Energy Act (NPERA) Bill by President Bola Tinubu.

In a statement issued on Friday, the coalition described the delay as unfortunate and detrimental to the growth of the renewable energy sector in the country. SEREC urged the President to sign the bill into law without further delay to provide the necessary legal framework for investment and development in the sector.

“ The NPERA Bill is critical for the sustainable development of renewable energy in Nigeria. The continued delay in assent is hindering investment and slowing down the country’s energy transition efforts,” the statement read.

The coalition highlighted the potential of the bill to attract foreign and local investment, create jobs, and reduce Nigeria’s dependence on fossil fuels. It also called for the establishment of clear regulatory guidelines and incentives that will encourage the adoption of clean energy technologies.

SEREC appealed to the National Assembly and the Presidency to expedite the process and ensure that the bill is signed into law before the end of the year. The group warned that further delay could result in missed opportunities and continued reliance on expensive and polluting energy sources.

Stakeholders in the renewable energy sector have echoed the coalition’s concerns, noting that the timely passage of the NPERA Bill is essential for achieving Nigeria’s climate change commitments and energy security objectives.

The South East Renewable Energy Coalition remains committed to advocating for policies that promote clean energy and sustainable development in Nigeria. The group called on all relevant authorities to prioritise the assent of the bill to unlock the full potential of the renewable energy sector.