On 13 and 14 November, 2018, Russian State Nuclear Energy Corporation Rosatom participated in and was a gold sponsor of the 15th Future Energy Nigeria Conference & Expo in Lagos, Nigeria. During the event representatives of Rosatom showcased presentations on the benefits of nuclear energy, as well as stressed the vital importance of the peaceful atom for the industrialization of Nigeria.
Delivering the keynote speech at the official opening of the conference, Dmitry Shornikov, CEO of Rosatom Central and Southern Africa noted that access to stable and affordable electricity happens to be one of the biggest hurdles when it comes to the envisioned industrial revolution and sustainable economic growth in Nigeria.
According to World Bank Enterprise Survey, electricity is the #2 overall business obstacle and #1 business obstacle for over half of large firms in Nigeria. The survey showed that 70% of large firms on the average experience 44 electrical outages per month for on the average 11 hours which results in losing ¼ of annual revenue. Another World Bank study showed that outages reduce direct exports of African firms by 6 to 12 %.
“Shortage of sustainable and affordable energy sources make it difficult for African nations like Nigeria to implement its strategic industrialization goals, this against a background of growing urbanization as well as demands for employment and modern infrastructure. The importance of the industrial sector in a country’s economic development cannot be over-emphasized,” explained Shornikov.
A recent analysis conducted by the Nuclear Energy Institute (NEI) found that nuclear plants create some of the largest economic benefits when compared to all other generating sources. Advantages gained from the implementation of NPP projects include local investments aimed at maintaining the well-being of the region and developing science, technologies, medicine and service sector. In a long run, the continuous development of these sectors will transform the country into a major economic force on the continent and on the global market.
“Within the past resent years Russia and Nigeria signed agreements on cooperation in the design, construction, operation and decommissioning of the Nuclear Power Plant and the Multipurpose Research Reactor Complex (MRRC) on the territory of Federal Republic of Nigeria” outlined Shornikov.
These agreements provide for appointment of authorized organizations for the projects’ development and implementation and determine their framework.
Considering the project on construction of the Multipurpose Research Reactor Complex, this Complex will ensure wide application of nuclear and radiation technologies in healthcare, science, industry and agriculture in Nigeria.
“The MRRC will bring various economic advantages such as new technological industry platforms, national industry development, improved regional investment climates, agricultural export growth, new jobs as well as increased life expectancy and improved quality of life for Nigerian population,” concluded Shornikov.