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Energy Crisis in Nigeria: Sustainable Option using Nanotechnology as the Way Forward
News > Publications      |      Posted: October 24, 2015 21:31:31pm GMT |      Views: 1380
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Nigeria is endowed with abundant natural gas, oil, coal, and several renewable energy resources that could be used to meet the demand for domestic electricity generation. Despite its large oil and natural reserves, Nigeria’s electrification rate is less than 50% of the population; this leaves approximately 76 million people without any access to electricity. The Nigerian government has unfolded plans to create 40 gigawatts (GW) of electricity capacity by 2020 compared to the 2009 installed capacity of 6GW. Achieving this goal will depend on the ability of the Nigerian government to utilize renewable and environmentally-friendly mix—such as solar, biomass, geothermal heat, hydropower, and wind. Global energy demand is anticipated to increase by 30% by 2030 and the share of fossil fuels in energy production will significantly decrease. It is therefore crucial that this nation maintains an interest in other emerging sources of renewable energy while keeping abreast of international trends in energy technology developments. In this lecture, I will discuss the application of nanotechnology and key areas of solar and other energy resource technologies. I will emphasize the exploitation of sustainable and alternative sources of energy, thereby minimizing the heavy dependence of electricity on petroleum in the total energy mix of the nation.

Nigeria, Africa's most populous country with approx. 170 million people, has been growing as an investment destination owing to the size of its consumer market and the growing emerging capital markets (https://en.wikipedia.org/wiki/List_of_African_countries_by_GDP_(nominal). Nigeria’s hydrocarbon resources are the mainstay of its economy. According to the International Monetary Fund, the hydrocarbon sector accounted for more than 95% of export earnings and more than 75% of the federal government revenue in 2011.  The Oil and Gas Journal (OGJ) has estimated that Nigeria’s proven oil reserves as of the end of 2011 to be approximately 37.2 billion barrels and the government hopes to increase proven oil reserves to 40 billion barrels in the next few years. 

 

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