Nigeria’s renewable energy industry has the potential to transform the nation’s economy, generating 300,000 jobs and contributing $7.4 billion annually to the GDP within the next five years, according to the Institute of Chartered Accountants of Nigeria (ICAN).
Speaking at ICAN’s 8th Southern Zonal Conference in Port Harcourt, the Institute’s President, Mallam Haruna Nma Yahaya, emphasised that aligning national policies with the United Nations Sustainable Development Goals (SDGs) — especially Goals 7, 12, and 13 — could unlock over $1 trillion in market opportunities for Africa by 2030.
Yahaya urged accountants to take the lead in promoting sustainability by advancing environmental accounting, sustainability reporting, and green financing. He called for the adoption of the International Sustainability Standards Board framework to boost compliance with global ESG requirements and position Nigerian businesses for long-term growth.
He further stressed that integrating climate resilience into budgets, incentivising eco-friendly investments, and fostering public-private partnerships for green infrastructure could support Nigeria’s Net-Zero Energy Transition Plan while attracting global financing.
Delivering the keynote address, Rivers State Administrator Vice-Admiral Ibok-Ete Ekwe Ibas (retd) — represented by Secretary to the State Government, Prof. Ibibia Lucky Worika — noted that Nigeria’s environmental challenges, from flooding in the Niger Delta to desert encroachment in the north, require urgent policy reforms grounded in accountability, ethics, and sustainability.
Ibas highlighted the severe environmental degradation in the Niger Delta, including oil pollution, mangrove destruction, and biodiversity loss, warning that these threats undermine not just the ecosystem but also the nation’s economy, security, and cultural identity.
He called for a shift from extractive to regenerative practices, improved environmental governance, and investment in clean energy, reforestation, and sustainability education. Strengthening transparency, data-driven planning, and inclusive community engagement, he said, will be key to building a resilient green economy for Nigeria’s future.
