APPRAISAL OF RENEWABLE ENERGY RESOURCES FOR SUSTAINABLE RURALECONOMIC DEVELOPMENT IN NIGERIA

Abstract

It is high time Nigeria capitalized on its abundant renewable energy resources to meet the growing needs of its population while simultaneously addressing socio-economic challenges.
Achieving this requires a broad and comprehensive set of procedures for all the sectors of its economy and enabling environment which will facilitate the transition away from fossil fuels to renewable energy with all the economic and health benefits that are intertwined. Thus, this
review paper illustrated how renewable energy technologies will be significant tools in achieving a sustainable energy mix and meeting the growing needs of the Nigerian populations particularly the rural communities. In the paper, five renewable energy resources - solar, wind,
hydro, biomass and geothermal energy resources and their renewable technology potentials were discussed. Thereafter, the indispensable roles of the organizations/institutions and the various policies responsible for governing the development of renewable energy resources in Nigeria were expatiated. Also, as a result of their immense contributions in promoting
sustainable energy development for economic growth of the rural dwellers, various barriers facing renewable energy resources were discussed. The paper concluded that Renewable energy is a viable solution to the energy challenges of developing countries in which Nigeria is inclusive because of the numerous benefits they have over the non-renewable fossils source of energy. Finally, owing to these challenges, some recommendations were proposed to the Nigerian government to provide adequate policy framework and enabling environment for renewable energy to flourish in the country. Also, in order to ensure long term development of renewable energy and energy efficiency, the government must partner with philanthropists, local and foreign investors as well as non-governmental organizations