- The federal government ascertained that the country is on the path to achieving its energy transition plan.
- It requires $410 billion with $10 billion per annum to address the nation’s energy constraint and policy flexibility and achieve Nigeria’s transition plan by 2060.
At the 7th Meeting of the National Council on Hydrocarbons, themed Roadmap and Strategic Option Towards Achieving Energy Transition in Nigeria, the Minister of State for Petroleum Resources, Mr Timipre Sylva, reaffirmed Nigeria’s was committed to achieving carbon neutrality, ending energy poverty by lifting 100 million people out of poverty and driving economic growth. The federal government ascertained that the country is on the path to achieving its energy transition plan. It requires $410 billion with $10 billion per annum to address the nation’s energy constraint and policy flexibility and achieve Nigeria’s transition plan by 2060.
At the meeting in Minna, the Niger State capital, Mr Sylva remarked that the gathering was designed to discuss and review energy-related issues, identify opportunities, and proffers solutions to inherent problems in line with global best practices. He further stated that Nigeria would be one of the 50 countries to have launched its guidelines for managing fugitive methane and greenhouse gas emissions in the upstream oil and gas sector this year.
He also said that the country, through the Solid Minerals Development Fund, is on the verge of unveiling its cutting-edge technology in gold mining to eliminate harmful reagents and cyanide for human and environmentally friendly practices. In his remark, the Niger State Governor, Mr Abubakar Bello, represented by the Secretary to the State Government, Mr Ahmed Matane, urged the government to show more political will, appealing to the relevant agencies to expedite actions on the exploration in the Bida Basin for optimal benefits stating that Niger State would provide lands for infrastructural investments, ease of doing business, and adequate security in the LPG industry, adding that state tax holidays and other fiscal incentives will be provided for private sector participation, as well as developing a comprehensive Niger State energy policy among other things.