WATCH THE VIDEO HERE The Chief Executive Officer (CEO) of the Centre for the Promotion of Private Enterprises (CPPE), Dr Muda Yusuf, has warned that Nigeria’s energy crisis would get worse if the government goes ahead with its plan to ban the importation of solar panels. Yusuf gave the warning on Wednesday while reacting to the recent announcement Minister of Science and Technology, Uche Nnaji, that the government would soon ban the importation of solar panels to boost local production. According to the CPPE boss, a ban on the importation of solar panels in the face of glaringly inadequate domestic production capacity would create more problems for the country. “It is important to clarify that Executive Order 5 is a procurement policy which directs Ministries, Departments and Agencies (MDAs) to give preference to Nigerian service providers in their procurement process for goods and services. “It is clearly different from a trade policy measure which has wider economic implications and requires a more rigorous study before policy pronouncements are made,” he said. Yusuf suggested that instead of a ban, the government should support local investors in solar panels by providing tax incentives, tariff concessions on intermediate products, and concessionary long-term financing at a single-digit interest rate. The Minister of Science and Technology, Uche Nnaji, had at a recent event in Abuja announced plans to stop the importation of solar panels as part of efforts to boost local production and drive Nigeria’s clean energy transition. He said the move aligns with Presidential Executive Order No. 5, which seeks to promote local content in science, engineering, and technology.
Ban on importation of solar panels will worsen Nigeria’s energy crisis—Muda Yusuf
