CHALLENGES AND PROSPECTS OF RENEWABLE ENERGY USE AND REGULATORY MODELS IN NIGERIA: COMPARING WITH SOME OTHER CLIMES

Abstract

Renewable energy is infinite energy which replenishes itself on a human time scale i.e nature’s quick actions [solar, hydro, fusion of nuclear reactors, inverters etc] that are alternatives to fossil fuels commonly used in developing economies like Nigeria. This study examines its use, regulatory models, challenges and prospects in Nigeria as compared to some selected jurisdictions. The enormous benefits of renewable energy include: being carbon neutral; capacity to mitigate climate change by sequestrating chlorofluorocarbon [CFCs] and other pollutants in the atmosphere; conservation and natural regeneration of biodiversity which enhances the carbon cycle, balances the ecosystem and creates job opportunities. Incidentally, Nigeria still uses fossil fuels due to the challenges of corruption, the ineptitude of successive governments, lack of technological know-how and specific legislative model which leads to role conflicts and confusion amongst agencies and stake holders despite the enormous benefits of renewable energy. This study finds fossil fuel effects to include; increased global warming, depletion of the ozone, a cut in the food chain, capacity of biodiversity and man going into extinction and other effects that currently stir us in the face. This study recommends the need for a specific legislation; merger of the multiple regulatory institutions, more judicial activism, to explore more on the abundantly available renewable energy types [solar, hydro and wind], increased taxations on fossil fuel use, collaborations with developed States and the State’s will power to implement planned models to better tackle the challenges for enhanced prospects.