- The investment opportunities would provide electricity for economic development and up to 340,000 jobs by 2030.
- The transition plan aims to expand industries related to solar energy, green hydrogen, and electric vehicles.
The Federal Government has identified about $23 billion in investment opportunities for projects in Nigeria’s Energy Transition Plan (ETP). The Minister of Power, Adebayo Adelabu, disclosed this at the 2nd German-Nigerian Symposium on Green Hydrogen. He noted that the opportunities would provide electricity for economic development, resulting in significant net job creation with up to 340,000 jobs by 2030.
He said, “The ETP creates significant investment opportunities such as establishing and expanding industries related to solar energy, green hydrogen, and electric vehicles. $1.9 trillion is required to get Nigeria to Net Zero by 2060, including $410 billion above usual spending. This additional cost translates to about $10bn annually. A $23bn investment opportunity has been identified based on current in-country programmes and projects directly related to the Just energy transition.”