Nigeria launches energy transition plan, including gas doubling

Nigeria is seeking international backers for a $10 billion boost for its energy transition plan, which includes solar expansion and a doubling of gas-fired power generation.

The Nigerian government aspires to provide universal access to electricity and shift to cleaner energy sources. By doing so, he hopes to lift 100 million people out of poverty by 2030.

By then, the mission aims to provide power to nearly 90 million people without electricity while putting the country on track to achieve net zero emissions by 2060.

Nigeria relies on gas as a transition fuel to supply electricity. He estimates the cost at $410 billion by 2060.

Last Wednesday, Nigerian Vice President Yemi Osinbajo and the Nigerian Energy Transition Implementation Task Force visited the United States to seek global partnerships and support for the program, underscoring the government’s determination to moving towards the world direction.

Osinbajo said: “The plan recognizes the role of natural gas in the near term to facilitate the establishment of this low-energy capacity and address the country’s clean cooking deficit in the form of LPG. It also envisions vibrant industries fueled by low-carbon technologies, streets lined with electric vehicles, and livelihoods enabled by sufficient, clean energy.

The strategy aims to generate 340,000 job opportunities by 2030 and 840,000 by 2060. Nigeria’s energy sector continues to grow, increasing its contribution to the socio-economic development of the country.

Even before this plan was launched, major industry players had predicted that Nigeria was well positioned to benefit from the energy transition regime due to the abundance of natural fossil fuels and renewable solar energy available in the country. .

Osagie Okunbor, Country Chairman of Shell, said, “Nigeria has gas in abundance, about 202 trillion cubic feet of proven gas reserves and about 600 trillion cubic feet of unproven reserves. Harnessing these vast gas resources, and on time too, is key to Nigeria’s next decade of existence.

Furthermore, he said an intentional expansion of the off-grid electricity and renewable energy industry, using foreign financial support and technology transfer, is another path that could be followed if the country wishes to succeed. its energy transformation.

The proposal was posted on a “purpose-built” website and launched by Vice President Yemi Osinbajo last week at an online event sponsored by Sustainable Energy For All, a sustainability advocacy group.

International development charity The Rockefeller Foundation and sustainability advocacy group Global Energy Alliance for People and Planet provided the funds for the event.

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