Federal Government and United Nations Industrial Development Organisation (UNIDO) have voted $2.8 million to implement national Clean Technology, Innovation Entrepreneurship Ecosystem (CIEE).
The UNIDO-led Initiative, sponsored by Global Environment Facility (GEF) will bridge the gap between Cleantech Entrepreneurs and the market, by providing competitive, business acceleration services for innovative Cleantech Startups and SMEs.
Speaking at the launch in Abuja yesterday, Minister of Innovation, Science and Technology, Uche Nnaji, noted the government recognises the role startups and SMEs play in economic development, enhancing renewable energy access, and contributing to climate change actions.
He noted the project fosters an enabling environment for innovation and entrepreneurship.
“We are proud Nigeria is among the 15 implementing this programme. The launch of the CIIEE testifies to our commitment to support emerging SMEs offering innovative Cleantech solutions.”
National Programme Coordinator of Environment and Energy at UNIDO Regional Office in Nigeria, Oluyomi Banjo, said Nigeria is a member state of United Nations Framework Convention on Climate Change (UNFCCC) and is under obligation to the global convention.
Banjo said Nigeria with a population of over 200 million is in need of innovations that are sustainable and environmentally friendly.
According to him, Nigeria’s economy is heavily reliant on fossil fuels and petroleum, saying despite the importance of energy to the economy, low access to modern energy services remains one of the constraints to economic development.
He said: “It is also important to note Nigeria has one of the highest energy poverty rates in the world: about 47 per cent does not have access to grid electricity and those who do, face regular power cuts.
“The economic impact of unreliable grid operations is estimated to be $28 billion. Lack of reliable access to electricity is also one of major constraint to the private sector, according to the 2020 Doing Business Report of World Bank.
“Therefore, improving power sector performance, particularly in the non-oil sector, will be crucial to foster growth…’’
