Abuja— Former President Olusegun Obasanjo has called for partnership among developed and emerging economies to address the energy crisis impeding the growth and development of African nations.
Obasanjo made the call in Vienna, Austria Tuesday, at the 2011 Vienna Energy Forum.
According to him, “the cause of energy deficiency for domestic and industrial use in Africa is lack of fund. If three or more developed and emerging economies in a joint collaborative effort among them and their private sector work seriously together for 10 to 20 years, I strongly believe that the world will achieve a breakthrough in renewable energy.”
He said a revolution in renewable energy through cost-sharing and burden-sharing among those who could afford the initial cost of research and development was the solution to the problem.
“In Africa, we believe that our salvation for adequate energy supply for domestic and industrial use lies in fast and revolutionary development,” he said.
Obasanjo who observed that energy deficit was a major indicator of African poverty, said that sources for renewable energy were, however, limitless in the continent.
According to him, since alternative energy can be locally sourced, it will boost investments and generate jobs as well as boost local economy where the materials are sourced from.
Noting the dangers posed by the indiscriminate use of fossil fuel, Obasanjo said the continent had no alternative to clean and adequate energy supply than renewable energy from solar, wind, sea and biomass, among others.
He said further that African leaders, through the AU and NEPAD in collaboration with UNIDO, had adopted an action plan, designed to make renewable energy pivotal to their development problems.
The former President added that the plan would, however, require consistency for its successful actualisation.
His words: “Africa must not be delinked from the renewable energy revolution, the benefit of which must be globally available and enjoyed. With a breakthrough in renewable energy and subsequent reduction in price that will follow in due course, renewable energy holds the promise for Africa’s energy self-sufficiency and availability.
“Those who pay for the initial research and development will make their money back, I see renewable energy revolution as a win-win for all.”
Coal, wind and solar energy are being developed as alternative sources of energy in Nigeria.
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Obasanjo proffers solution to energy crisis in Africa