By Abiodun Abdullai
The Nigerian Association for Energy Economics (NAEE) has said that the ongoing macroeconomic reforms of President Bola Ahmed Tinubu's administration are beginning to create new opportunities for small businesses and economic stability in the country.
Speaking at the 18th NAEE/International Association for Energy Economics (IAEE) Annual International Conference in Abuja, former NAEE president, Prof. Adeola Adenikinju, described the reforms as strong and forward-looking but urged the government to ensure that vulnerable groups and small-scale entrepreneurs are adequately protected.
"In this kind of reform, you must find a way of identifying the vulnerable groups and protecting them. The market will not do that for you," he stated.
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He emphasized that improved access to affordable energy and removal of barriers to domestic gas supply will enhance productivity and lower operational costs for SMEs.
Also speaking, the Secretary General of the African Petroleum Producers Association (APPO), Dr. Omar Faruk, noted that Africa's energy transition must reflect its unique development realities. He said the continent still depends on fossil fuels to drive industrial and business growth while gradually embracing renewable alternatives.
The conference, themed "Emerging Geopolitics of the Energy Landscape – Navigating Global Shifts and Their Impacts on Developing Economies," gathered experts and policymakers to discuss strategies for sustainable energy and its implications for business growth across Africa.
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