Prices of Solar Panels, Others May go up as Nigeria Plans to Stop Importation

The Minister of Science and Technology, Mr Uche Nnaji, said the country has the capacity to meet local demand of solar energy and to encourage more domestic investments in the landscape, the importation of solar products, which are duty-free, has to stop.

Speaking in a recent interview in Abuja at the launch of the NEV T6 electric buses, Mr Nnaji said the plans to prohibit solar panel importation aligns with Presidential Executive Order Number 5, which seeks to promote local content in science, engineering, and technology.

He emphasised that with the National Agency for Science and Engineering Infrastructure (NASENI), there is nothing to worry about with local solar panel production.

“With NASENI here, you know that we have panels. It has a factory that has started producing solar panels and other private individuals are also producing solar panels as we speak.

“So, all we need to do is, even through science and technology, through our Presidential Executive Order No. 5, we will stop all these importations of solar panels.

“We will support our local industries to grow and very soon, most houses will go off-grid. Personally, I have been off-grid for over three years and it is working,” the Minister said.

Mr Nnaji noted that Nigeria was already making significant investments in renewable energy infrastructure, noting that with the expansion of local solar panel manufacturing, more Nigerian homes and institutions would transition to off-grid power solutions

“We have lithium in abundance here in Nigeria, so Mr. President is already taking action. We are adding value to our raw materials. The lithium we have here will be processed and used as batteries for these vehicles,” he stated.

“If you look at our budgets, we have what is called mini-grids all over the place. In less than three or four months, you will start seeing our hospitals and institutions being powered by solar.

“Again, we are saving the environment. We are putting in place non-carbon emission infrastructure. So, we are creating power everywhere,” he added.

Business Post gathered that at the moment, the price of 555w solar panels goes for between N140,000 and N160,000, while a 220v inverter battery is about N260,000, with a 60A charge controller at about N180,000.

Consumers are already scared that if the importation of solar panels are stopped, prices will rise like it happened with rice.