May 5, 2022 1:51 PMAccording to the latest Consumer Price Index report of the National Bureau of Statistics , Nigeria’s inflation rate for March 2022 stood at 15.92%. This represents the highest rate recorded in the country since October 2021, when it was at 15.99%. One of the major factors responsible for this spike is rising energy prices in the country and around the world, which can be seen as a direct impact of the ongoing war between Russia and Ukraine.
The National Electricity Regulatory Commission also recently revealed that electricity tariffs charged by electricity distribution companies in Nigeria would go up in the coming months following the removal of power sector subsidies by the Federal Government. Solar energy systems are also substantially more durable than petrol-powered and diesel-powered generators. A solar battery can last between 5 – 15 years, while the lifespan of a typical solar panel is between 20 and 25 years, with both requiring minimal and infrequent servicing.
The government has thus far played a critical role in encouraging the growth and development of the renewable energy industry in Nigeria by offering various forms of incentives to foreign and domestic investors. It can complement this by offering incentives that will increase the demand for renewable energy by the general public, especially businesses, such as offering tax credits to businesses that transition from polluting and hazardous fossil-fuel-generators to renewable energy sources.
Renewable energy
Please I need one of these portable solar panel rechargeable device, at least to be charging phones
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: thecableng - 🏆 2. / 80 Read more »