The Energy Commission of Nigeria (ECN) has revealed that the country will need $410 billion to implement its Energy Transition Plan by 2060. Mustapha Abdullahi, Director-General of the ECN, announced this during the 7th Energy Transition Working Group (ETWG) Meeting in Brazil.
Nigeria, the first African country to launch a detailed Energy Transition Plan, aims to tackle energy poverty, combat climate change, and ensure universal access to affordable energy by 2030, with a target of net-zero emissions by 2060. The plan also focuses on the localisation of green energy technologies, including lithium mining for batteries and solar panel assembly plants.
Abdullahi emphasised that increased energy access is vital for reducing poverty and improving healthcare, education, and economic growth in both urban and rural areas. He also pointed out the financial challenges developing nations face, with African countries requiring $53 billion annually between 2020 and 2035 to achieve a just energy transition.
The ETWG meeting gathered global energy leaders and experts to discuss policies for a sustainable and equitable energy future.
Credit: NAN (Text Excluding Headline)
