Renewable energy essential for women-led agricultural growth, says WCCIMA
CHIGOZIE AMADI
The Women Chamber of Commerce, Industry, Mines & Agriculture (WCCIMA) has called for affordable renewable energy solutions to women in agriculture sector due to their roles in food production and economic growth.
Its Director-General, Dr Weyinmi Eribo, made the appeal while speaking at the 2024 Renewable Energy Conference organised by the Renewable Energy Association of Nigeria (REAN) on Tuesday in Lagos.
The conference has the theme: “Unlocking Affordable Energy For All”.
According to her, women are the backbone of Nigeria’s agriculture, responsible for producing over 70 per cent of the country’s food supply and generating more than 80 per cent of informal revenue.
She pointed out that in spite of their central role, women faced significant challenges in accessing affordable and sustainable energy solutions.
Eribo referenced a recent report by the National Bureau of Statistics, which showed that women owned 40 per cent of micro, small, and medium enterprises (MSMEs) in Nigeria, with 12 per cent co-owned by women.
“Despite this, these businesses are often hindered by high energy costs, with renewable energy alternatives up to 20 times more expensive than traditional gasoline generators.
“This energy disparity is a major barrier that limits women’s productivity, income potential, and overall economic resilience.
“The lack of affordable renewable energy solutions forces women to carry increased workloads and places them at higher risk of poverty.”
The WCCIMA director-general stressed that access to sustainable energy was crucial, not only for economic growth, but also for poverty reduction and human development.
She said that WCCIMA, in collaboration with Heinrich Boell Stiftung (HBS) and SOSAI Renewable Energy, recently organised a solution lab that engaged over 100 women from various sector.
She said that this also included agro-processing, education, fashion, ICT, media, and trade.
“More than 90 per cent of the participants expressed interest in adopting renewable energy solutions for their businesses.
“This demonstrates women’s awareness of the benefits of sustainable energy and their readiness to adopt these solutions if provided with the necessary support.
“Women have proven to be highly creditworthy, with over 90 per cent consistently repaying loans, making them a promising sector for the renewable energy industry,” he said.
Eribo called for the development of financing models tailored to women’s needs in agriculture, urging banks, microfinance institutions, and development partners to offer low-interest loans and customised financial products.
She also highlighted WCCIMA’s efforts to design financial products that would help women access renewable energy solutions and urged legislators to focus on constituency projects that prioritise renewable energy.
Eribo stressed the importance of social inclusion in energy adoption, calling on community leaders—including traditional and religious authorities—to advocate for clean energy solutions.
“By leveraging the influence of community leaders, we can ensure that clean energy solutions reach the people who need them most.
“Investing in women is investing in Nigeria’s economic future, environmental sustainability, and the well-being of our communities,” she added.
Also, Mr Daramfon Bassey, Lead Consultant at SFI Consulting, called for urgent action to support women entrepreneurs with affordable renewable energy solutions.
Bassey cited a recent survey on Affordable Finance Models for MSMEs, which revealed that Nigeria’s energy crisis was costing the economy billions, particularly affecting women-led businesses.
He said that the survey found that 84 per cent of urban households and 86 per cent of businesses in Nigeria rely on fossil fuel generators, costing an estimated $22 billion annually.
“Women entrepreneurs, who are crucial to the MSME sector, face even greater challenges, with many spending between N2,000 and N5,000 daily to fuel their generators.
“The removal of fuel subsidies in 2023 has further strained these businesses.
In spite of these challenges, Bassey noted that women entrepreneurs were eager to adopt renewable energy solutions, such as solar-powered irrigation systems, clean cookstoves, and solar lighting.
He said that these technologies offered the potential to lower costs, improve health, and boost income.
Bassey also called for the establishment of a dedicated Renewable Energy Fund, gender-sensitive financing models, and tax incentives for renewable energy products.
He emphasised that collaborative efforts from governments, financial institutions, and the private sector were essential to providing affordable and reliable energy solutions for women entrepreneurs.
“Despite efforts to address Nigeria’s energy challenges, the country still faces a fragile electricity grid, which has experienced 105 collapses from 2015 to June 2024.
“Nearly half of Nigeria’s population still lacks reliable electricity, and the country loses an estimated $26.2 billion annually due to energy inefficiencies,” he said.
Bassey said that by focusing on renewable energy for women entrepreneurs, Nigeria could unlock significant economic potential, drive growth in the MSME sector, and pave the way for a more sustainable energy future.
