Energy and climate experts are urging the Federal Government to accelerate solar energy investments, saying the move could unlock $2.5 billion annually from the global carbon market while driving Nigeria’s clean-energy transition.

At a renewable energy forum, renewable energy consultant Dr. Sunday Okoro said solar expansion is key to reducing emissions and earning carbon credits.

“Each avoided ton of CO₂ from solar power can generate a tradeable carbon credit. With the right systems, this could create a major revenue stream,” he noted.

Mrs. Aisha Bulila, Managing Director of SolarTech Renewables Ltd, lamented that despite Nigeria’s high solar potential, installations supply less than 2% of national demand.

“Expanding solar use will boost electricity access and attract clean-energy investments,” she added.

Regulators are already taking steps. The Nigerian Electricity Regulatory Commission (NERC) plans to allow households and firms to sell excess solar power back to the grid. Meanwhile, the National Council on Climate Change (NCCC) is finalizing a National Carbon Market Framework projected to generate $2.5–3 billion annually through verified carbon credits.

Experts say success will depend on transparent measurement, reporting, and verification (MRV) systems to ensure credible carbon credit certification.

Nigeria currently has one of the world’s highest solar irradiation levels, yet over 85 million people remain without electricity. Scaling up off-grid solar systems, analysts say, could close this gap while positioning Nigeria as a leading carbon-market participant. Visit www.jocomms.com for more news.