REA, Tranos Partner to Boost Renewable Energy Manufacturing in Nigeria
L-R: Executive Director, Large Enterprises, Bank of Industry, Ifeoma Uzokpala; representative of the Ogun State Governor/Special Adviser to the Governor on Energy, Jide Onakoya; Managing Director, Tranos, Jude Abalaka; Chairman, Manufacturers Association of Nigeria, Ogun State/MD, Coleman Cables, George Onafowokan; and MD, Rural Electrification Agency of Nigeria, Abba Abubakar Aliyu, during the groundbreaking ceremony of Tranos, at Mowe, Ogun State.
Managing Director of the Rural Electrification Agency (REA) of Nigeria, Mr. Abba Abubakar, has said that the country is prepared to become a renewable energy hub in Africa.
Abubakar disclosed this during the groundbreaking ceremony for Tranos’ new solar panel manufacturing plant in Ogun State, Nigeria.
He highlighted that Nigeria has the highest number of people without access to electricity, with about 86 million people affected.
According to MD REA, the cost of this lack of access is estimated to be around $25 billion annually and to bridge this gap, the government has initiated several programs, including the development of renewable energy sources.
Abubakar noted “Nigeria has vast potential for renewable energy, particularly solar power, which can be harnessed to provide electricity to millions of people. The government has signed several agreements to promote renewable energy development, including a $750 million public sector funding and a 100-billion-naira financing collaboration agreement with First City Monument Bank (FCMB)
“The government is pushing for the localization of solar panel manufacturing in Nigeria to create jobs and boost the economy. REA is partnering with private sector companies like Tranos to boost renewable energy manufacturing in Nigeria. The development of renewable energy sources and the localization of manufacturing is expected to have a significant impact on Nigeria’s economy and energy sector. It will create jobs, boost economic growth, and provide electricity to millions of people.
“With the government’s commitment to renewable energy development and the partnership with private sector companies, Nigeria is poised to become a leader in renewable energy in Africa. The country’s renewable energy sector is expected to attract significant investment and create new opportunities for businesses and individuals.”
Chairman of the Manufacturers Association of Nigeria (MAN), Ogun State Chapter, Mr. George Onafowokan, lauded Tranos on its groundbreaking ceremony for a new factory in Ogun State, adding that the event marks a significant milestone for Tranos and a welcome development for Ogun State’s industrial landscape.
Onafowokan said “Ogun State continued to demonstrate its attractiveness as a preferred destination for both local and international investors. The Manufacturers Association of Nigeria plays a crucial role in Nigeria’s industrial and economic development, serving as the umbrella organization for manufacturing companies in Nigeria.
“The new factory is expected to create jobs, stimulate economic growth, and enhance the state’s industrial landscape. The government of Ogun State has been commended for providing an enabling environment for businesses to thrive through infrastructure, policy, and support systems that encourage industrial growth.
“The new factory is expected to have a positive impact on the local economy, creating jobs and stimulating economic growth. It also demonstrates the potential for industrial growth and development in Ogun State.”
He affirmed that his association is committed to supporting initiatives that drive sustainable development, innovation, and responsible manufacturing practices.
In his words: “The association looks forward to seeing the project come to life and making a positive impact on the lives of the people and the growth of the local economy.”
The Special Adviser to the Governor of Ogun State on Energy, Mr. Jide Onakoya, said that Tranos’ new factory in Ogun State is a welcome development that will create jobs and boost the state’s economy.
Onakoya said “Ogun State is the most industrialized state in Nigeria, with a strong focus on economic development and job creation. The state has passed an electricity law that promotes renewable energy development, with a focus on solar power and other sustainable energy sources. Tranos’ new factory is a significant investment in Ogun State’s industrial sector, creating jobs and boosting the state’s economy.
“The new factory is expected to have a positive impact on Ogun State’s economy, creating jobs and stimulating economic growth. It also demonstrates the state’s commitment to industrial development and renewable energy.
“With the state’s focus on renewable energy development and industrialization, Ogun State is poised for significant economic growth and development. The new factory is a step in the right direction, and it is expected to contribute to the state’s economic prosperity.”
On his part, Managing Director of Tranos, Mr. Jude Abalaka, stated that the factory in Ogun State will manufacture an 800-megawatt solar PV panel, which will complement the company’s existing products for the renewable energy sector and general power market.
Additionally, Abalaka said “Tranos is investing in a new manufacturing campus in Ogun State, which will feature state-of-the-art facilities for designing and manufacturing products. The company will manufacture 800 megawatts of solar PV panels annually, which will supply the entire Nigerian market and potentially export to other countries.
“The new factory is expected to create hundreds of jobs, both directly and indirectly, and will contribute to the local economy. Tranos will continue to develop new products and improve existing ones to meet the needs of the local market.
“Tranos is poised for significant growth and expansion. The company is expected to continue developing new products and technologies, and its investment in Nigeria’s renewable energy sector is expected to contribute to the country’s economic development.”
