An expert in the field of Environmental and Energy Economics at the University of Wollongong, Australia, Abdulrasheed Zakari, has urged Nigeria to adopt and adapt Australia’s successful renewable energy policies to address its energy challenges and advance environmental sustainability.
Abdulrasheed Zakari, an authority in Environmental and Energy Economics, has gained global recognition for his research on the interplay between environmental policies and energy markets, as well as sustainable energy development strategies.
His work has informed crucial policy decisions and enhanced understanding of the economic dimensions of environmental conservation and renewable energy integration. Zakari’s contributions, including publications in prestigious economics journals and consultations for various organisations, underline his significant impact on advancing knowledge and shaping discourse in this field.
Nigeria, grappling with substantial energy challenges, could benefit greatly from Australia’s innovative renewable energy policies. Recent studies highlight Australia’s success with renewable energy rebates and policies, offering a potential roadmap for Nigeria.
For instance, Australia’s implementation of premium feed-in tariffs has significantly reduced carbon emissions by incentivizing renewable energy production. These tariffs provide favourable rates for feeding electricity back into the grid, proving effective in the long term despite initial challenges. Nigeria could stimulate investment in renewable energy sources like solar and wind by adopting similar feed-in tariff policies, leading to a gradual and sustainable reduction in carbon emissions.
Furthermore, Australia’s renewable energy target policy mandates a specific percentage of energy from renewables, demonstrating consistent effectiveness in fostering renewable energy infrastructure and usage.
By implementing a similar policy, Nigeria could set clear and achievable goals for increasing its renewable energy capacity, advancing clean energy adoption, creating jobs, and driving economic growth.
The study also highlights the impact of external factors, such as the China-Australia trade dispute and COVID-19 disruptions, on renewable energy policy outcomes. These factors affect supply chains and international collaborations, emphasising the need for resilient policy frameworks.
For Nigeria, developing policies that can withstand external shocks while maintaining progress towards renewable energy goals is crucial. Diversifying supply chains and fostering international partnerships could ensure the stability and effectiveness of Nigeria’s renewable energy initiatives.
To support these initiatives, Nigeria should consider developing comprehensive incentives to promote investment in renewable energy technologies, creating a stable and attractive environment for both local and international investors. Balancing short-term and long-term goals is essential, with policies designed to achieve immediate environmental benefits while laying the groundwork for long-term sustainability.
Encouraging international collaboration is also key, allowing access to advanced technologies and best practices and enhancing the effectiveness of local renewable energy projects. Strengthening supply chains by diversifying sources and encouraging local manufacturing capabilities can also help build resilience.
Australia’s success in leveraging renewable energy policies to improve environmental quality offers a valuable model for Nigeria. By adopting and adapting Australia’s proven strategies, Nigeria can significantly reduce its carbon footprint and ensure a sustainable energy future. Policymakers must prioritise the development of robust and resilient renewable energy policies that address both current challenges and future goals.
Emulating Australia’s renewable energy policies could position Nigeria as a leader in renewable energy in Africa, contributing to global efforts to combat climate change and promote ecological integrity, and promising both environmental benefits and economic growth and energy security for Nigeria.
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