Dr. Onuoha Nnachi, an economic expert, has emphasized the urgent need for strategic investments in Nigeria’s energy and agricultural infrastructure to drive sustainable economic growth.
Speaking during a press conference in Abuja on Monday, Nnachi urged both individuals and the government to channel resources into these sectors to align with President Bola Tinubu’s “Renewed Hope Agenda.”
He stressed that sustainable development in energy and agriculture cannot be achieved without significant financial commitment.
As Managing Partner at Deutsch Partners Holding, Nnachi highlighted agriculture as a cornerstone of economic stability in many developed countries.
He cited Ukraine as a prime example, noting that the country’s major role in wheat production has had global implications, particularly due to its ongoing conflict with Russia.
“We are at a crossroads of immense opportunity and challenge. Global energy demand is on the rise, but we must meet this demand responsibly to protect the environment for future generations,” he said.
“Agriculture, which forms the backbone of global economies, is under pressure from climate change, population growth, and the demand for efficiency.”
He pointed out the interconnection between energy and agriculture, explaining that sustainable energy supports modern farming practices, while strong agricultural systems promote economic resilience. Together, they can stimulate job creation, reduce poverty, and foster innovation.
Dr. Nnachi also announced plans for an upcoming infrastructure dialogue focused on “Financing Sustainable Energy and Agricultural Infrastructure for Economic Development.” The event will aim to establish practical solutions such as knowledge transfer programs, entrepreneurship schemes, trainer development, structural sustainability, and policy guidance.
Key speakers expected at the forum include Mr. Abba Abubakar Aliyu, Managing Director/CEO of the Rural Electrification Agency, and the head of the National Agency for Science and Engineering Infrastructure, among others.
He emphasized the importance of financing local production over importation, particularly in the solar energy sector.
“It’s not about throwing the borders open for unrestricted importation. Instead, there should be a phased reduction in imports while simultaneously investing in local production facilities.”
“If the government provides capital support—like grants and equity stakes—in domestic manufacturing, it will curb smuggling and stabilize the economy. The transition must be gradual and data-driven, aligned with Nigeria’s production capabilities.”
Reiterating his message, Nnachi concluded: “We are in a defining era of great possibilities and significant responsibilities. Meeting the global energy demand while protecting our planet is not just necessary—it’s urgent.”
