- Osinbajo has called for a just energy transition.
- The Vice President believes that gas can deserve as a bridge fuel to aid clean energy transition.
Nigeria’s Vice President, Yemi Osinbajo, has decried the efforts of global financiers to defund fossil fuel projects. According to Osinbajo, these efforts “violate the principles of equity and justice enshrined in global agreements.” The vice president speaking at a virtual conference themed: Climate, Conflict, and Demography in Africa jointly hosted by the International Crisis Group, the Royal African Society, and African Confidential publications earlier today. Mr Osinbajo had on several occasions in the past advocated for a “just transition” that does not restrict the financing of gas projects on the continent as he believes that it will be a setback to achieving universal energy access.
Speaking at the virtual event, Mr Osinbajo noted that for developing countries, gas could act as a bridge fuel, help to increase clean energy share in the energy mix, and rapidly transition away from firewood-based cooking fuel to natural gas-based cooking, which has both environmental and health benefits for millions. However, Osinbajo added that it is unfortunate that the continent is “being compelled to make disproportionately huge sacrifices” even as developed countries insist that defunding gas projects are an important component of the drive towards net-zero emissions by 2030.