By Jessica Dogo
The Energy Commission of Nigeria (ECN) says Nigeria requires $410bn to deliver energy transition plan by 2060.
The Director-General of ECN, Dr Mustapha Abdullahi, made this known yesterday in a statement in Abuja.
Abdullahi, who spoke at the 7th Energy Transition Working Group (ETWG) Meeting in Foz do Iguacu, Brazil, said that Nigeria was the first African country to launch a detailed Energy Transition Plan officially.
The News Agency of Nigeria (NAN) reports that the two-day meeting is titled “Building a Just World and a Sustainable Planet.”
Abdullahi said the plan would address energy poverty and climate change and deliver universal access to affordable energy (SDG7) by 2030 and net zero by 2060.
He said modern, affordable, reliable, and sustainable energy was critical for economic growth.
He also said that providing access to modern energy would significantly improve health care, education, and economic growth in Africa’s urban and rural areas.
“We need significantly more energy because energy access is essential to reducing poverty, preventing disease, and supplying clean water for essential hygiene.
“One of the conclusions of the COP28 Summit held in Dubai in 2023 was the commitment of the participating countries to transition away from fossil fuels to renewable fuels. This will help to achieve net-zero emissions by 2050 globally,” he said.
He said that Nigeria had set up a policy target of domesticating and localising Green Energy, with the mining and processing of lithium for batteries and solar PV assembly plant factories.
The DG, who heads the Nigerian delegation at G20 ETWG, said that finance is critical to a clean energy transition. Still, it is inaccessible to developing nations that need it most, particularly in Africa.
“Africa is one of the most affected regions by climate change, and the present funding for climate financing in African countries is inadequate.
“According to the African country’s nationally determined contributions, the continent reportedly requires about $53bn annually between 2020 and 2035.
“To achieve a just energy transition, each African country should plan its energy transition specific to its energy scenario policy, and not a general one size fits all model,” he said.
NAN reports that the ETWG brought together energy ministers, leaders, and experts worldwide to discuss and consider energy transition policies.
