The Launch of Nigeria’s Energy Transition Plan

Professor Yemi Osinbajo is to launch Nigeria’s energy transition plan today, 24^th August, by 14:00 WAT.

The increasing detrimental effect of fossil fuels on the environment led to countries updating their climate action goals at the 26^th United Nations Conference of Parties (COP26) in Scotland. Nigeria was not left out as President Muhammadu Buhari pledged that the country would attain a net zero emissions rate by 2060. For this, organisations, agencies and stakeholders have eagerly awaited the launch of Nigeria’s energy transition plan.

The use of fossil fuels to generate energy has adverse disadvantages. Among these, the effect of fossil fuels on the climate is of great concern to the global community. When fossil fuels such as coal and crude oil are burnt for energy, they emit greenhouse gases such as carbon dioxide and methane. These greenhouse gases largely contribute to global warming, leading to deforestation, rising sea levels, food scarcity, and changing climates.

Despite Africa contributing approximately 3 per cent (%) to the global emissions rate, the region is the most vulnerable to the effect of greenhouse gases. Furthermore, the continent’s energy poverty which inhibits socio-economic growth drives this vulnerability. According to the International Energy Agency (IEA), the Corona Virus (COVID-19) pandemic worsened Africa’s energy security. The agency stated that 25 million more people are without access to electricity than before the pandemic, with most of them in Nigeria.

Nigeria’s huge energy access deficit encourages citizens to generate energy through alternative sources such as generators, firewood, or coal. These alternative energy sources release greenhouse gases that are harmful to the environment.

However, the launch of Nigeria’s energy transition plan aims to reduce energy poverty and improve the country’s energy mix to become cleaner and more sustainable. Some of the objectives of the energy transition plan include:

• To attain carbon neutrality and end energy poverty to drive economic growth.
• To raise awareness of the need for intra-continental data-driven transition plans to ensure a clean and just African energy transition.
• To attract investors by laying-out projects that align with the transition goals and create viable market opportunities.
• To improve the productive use of energy by increasing access to funding for solar energy companies from the Universal Energy Facility.

Today, the virtual launch of Nigeria’s energy transition plan by the federal government hopes to showcase the routes and actions that will be taken to ensure the country meets its climate action goals.

Click HERE to register to attend the launch.