Nigerians, and by extension, their businesses, expend about N7 trillion annually on power generation, a renewable energy expert, Mr Stephen Ogboko, has revealed.
Ogboko, who is also the executive director of Off-Grid Tech Solutions Limited, made this known at a virtual news conference in Lagos.
He spoke on the theme: "Analysing the Benefits of Technological Innovation."
According to him, this is inefficient, expensive, noisy, polluting and of poor quality.
He said that inadequate power supply had been a major challenge facing businesses in the country, forcing them to source alternative power supply for their operations.
The executive director said: "Nigeria is among the countries with a very high need of electricity.
"A significant amount of the economy is powered largely by small scale generators and almost 50 per cent of the population have limited or no access to the grid.
"This could be effectively tackled with the deployment of off-grid renewable energy solutions by making electricity more cost-effective and environmentally friendly."
He described renewable energy from off-grid resources as sustainable and cost-effective for farmers and Small and Medium Enterprises (SMEs).
Ogboko said Off-Grid Tech Solutions Ltd. partners with the global innovators of off-grid solutions to provide reliability.
He said: "This is cost-effective and lasting solutions to societal problems toward improving the lives of people in developing nations.
"Our team of experts have worked all over Africa, and continue to work to provide solutions to a variety of sectors.
"We have marketed and delivered smart off-grid solutions for many years, providing permanent, efficient, safe and affordable solutions."
Ogboko said that the firm specialises in the marketing of heat lamps and incubators, gas-powered air conditioners and cooling fridge, mobile power solution-solar energy boxes, pressure cookers, among others.
He said that notable partners of the initiative were the Federal Ministry of Agriculture and Rural Development (FMARD), United Kingdom Department for International Trade (UK-DIT), International Institute of Tropical Agriculture (IITA), All Farmers Association of Nigeria (AFAN), Buckler Group, and Tywit.
The News Agency of Nigeria reports that off-grid renewable energy solutions support the expanding access to modern energy services in an environmentally sustainable manner.
Off-grid renewable will deliver a wide spectrum of electricity services for households, public services, and also serve commercial and industrial purposes.
Off-grid energy solutions is one of the key drivers of the nation's push for industrialisation.