Name: Olubunmi Ogundare
Company: Africa Asia Global Services
1) Give us an overview of your business and the different projects you are involved with.
Africa Asia Global Services Ltd is a firm incorporated and established in Nigeria to facilitate investment opportunities and the supply of goods and services from across the globe to Africa, and Nigeria in particular. We are, however, also into renewable energy provision in Nigeria and the importation of solar accessories and equipment. We are presently installing a solar street lighting system in Lagos and we have sent proposals to two other state governments to power their state capitals. There are also on-going discussions to power some bridges in Nigeria with solar power.
2) Africa Asia Global Services recently signed a deal to power the new Lagos BRT bus stops using solar energy. Tell us more about this.
We have realised that it is always dark at night in Lagos and that this gave room to crime. We approached the management of the Lagos Metropolitan Area Transport Authority to power these BRT bus stops on a public private partnership arrangement. The light comes up automatically when darkness sets in and goes off when the sun comes up.
3) How are you going to make money from the bus stop project?
This is an investment of high capital involvement. Provision of solar power is not cheap and it requires a lot of funds to get the structures in place. We will recoup our investment through advertising placements on our infrastructure and the concession given for this is four or five years.
4) What other opportunities are available for investors interested in solar and other renewable energy projects in Nigeria?
Nigeria is a large nation with a terrible crisis in the power sector. Nigeria's population of 150 million people and the many industrial and commercial outfits have serious power needs. Any investment in this sector will never be a fad investment. Most of the local and state governments are showing serious interest in renewable energy.
5) Victor Fodeke, head of the Nigeria Special Climate Change Unit recently set a target of moving 20% of the country's electricity users to renewable energy sources by 2012. Do you think this is a realistic goal?
This is a realistic goal. Nowadays, there is a lot of awareness of the benefits derivable from renewable energy. The crisis in the power sector is causing people to move to renewable energy sources. It also has benefits such as lower maintenance costs and a cleaner environment.
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