Mr Simon Asite, a former President, Delta Association of Chamber of Commerce, Industry, Mines and Agriculture (DACCIMA), has urged Nigeria to invest more on renewable energy.
Asite said in Warri that the only way to curb the epileptic power situation in the country was through strong renewable energy.
He said the current power situation in the country was grossly affecting businesses, stressing that electricity was key to the overall development of the economy of any nation.
“The earlier the Federal Government began to explore alternative sources of power, the better for the country; China for instance, rely more on solar power to drive its industrial sector.
“In China for instance, most industries rely on solar energy, it is environmental friendly, it has no hydrocarbon and boost green economy.
“The Federal Government should take the expansion of alternative energy seriously, commit more fund into it like what China did.
“The world is changing and we should as well adapt to the changes and move along for the sake of future our nation.
“Government should appropriate much money into research and development of alternative energy for Small and Medium Scale Enterprises (SMEs) and other industries to thrive,” Asite said.
The former DACCIMA president said SMEs were major drivers of the economy of any nation, adding that the operators need adequate electricity supply to sustain their businesses.
“All over the world, SMEs are the drivers of the economy, the greatest employer of labour. They contribute to the nation’s Gross Domestic Products (GDP),” he said.
Asite, however, urged government not to allow private investors to invest in renewable energy so as not to frustrate the initiative.
“The distribution companies awarded to private investors are only maximising profit, they are not providing the right services to the consumers, they are killing the industries,” he said.