BY: News Peddlers
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| Muhammadu Buhari President of Nigeria |
Goddy Jedy-Agba, Minister of State for Power, has reaffirmed the Federal Government's determination to lift 100 million Nigerians out of poverty by 2030 through its Energy Transition Plan, or ETP.
Mr. Jedy-Agba made the announcement during the 2022 Nigeria Energy Forum Day 2, Virtual Edition, which took place on Monday following the Day 1 physical event in Lagos.
President Muhammadu Buhari announced plans for the government to lift 100 million Nigerians out of poverty by 2030.
This was stated by Kachollum Daju, Permanent Secretary, Ministry of Labour and Employment, in an address to journalists on Sunday in Abuja.
According to the minister, ETP will lift 100 Nigerians out of poverty and drive the country's economic growth.
"It will also bring modern energy services to the entire population while addressing the expected long-term job losses in the oil sector as a result of global decarbonization."
"The plan focuses on the rapid deployment of sustainable energy systems to address the nation's energy poverty," the minister said.
He stated that key targets from relevant policies and initiatives such as the 2020 Economic Sustainability Plan, the Nigeria Electrification Project, the National Decarbonization Programme, and the Presidential Power Initiative were used in developing the plan.
"The ETP is geared toward the development of low-carbon energy systems in five key sectors: power, industry, cooking, transportation, and oil and gas."
According to Mr. Jedy-Agba, the plan has been approved by the Federal Executive Council and is now National Policy.
"An Energy Transition Implementation Working Group (ETWG) has been formed in collaboration with key international partners to drive the ETP's implementation."
"The ETWG is chaired by Vice President Yemi Osinbajo and includes key ministers from the Environment, Finance, Works and Housing, Petroleum Resources, Foreign Affairs, and Power."
"For the delivery of the plan, the Working Group and its secretariat, the Energy Transition Office, have been engaging with in-country stakeholders, development partners, financiers, and the international community," he said.
According to the ETP analysis, achieving Nigeria's net-zero target will necessitate 1.9 trillion dollars in spending up to 2060, including 410 billion dollars above business-as-usual spending.
Inga Stefanowicz, Team Leader, Green Economy Co-operation Section, EU Delegation to Nigeria and ECOWAS, spoke about the plan, saying Nigeria was not trying to ignore the ongoing transition.
According to her, the EU will contribute approximately 400 million Euros in projects and programs to the ETP.
"This amount may appear modest in comparison to the needs and ETP estimates, but it is also our funds' role to act as catalysts of change, reforms, private sector, and international development finance investment."
"We are proud to have already achieved such positive spillovers for Nigeria, and we look forward to continuing to collaborate," she said.
"Practical actions on project financing, people development, and policy implementation must progress at a rapid pace to achieve the target of 30GW installed generation capacity by 2030 with a 30% share of renewable energy in Nigeria," said Dr. Daniel Oluwole Adeuyi, Chairman 2022 NEF.
According to Mr. Adeuyi, the NEF2022 webcast was designed to increase the capacity of energy professionals, policymakers, business leaders, and consumers.
It demonstrated cross-industry collaboration and contributions to ensuring a sustainable, just, and people-centered energy transition, he said.
Adekunle Makinde, NEF2022 Co-Chairman, stated in his remarks that more than 25 speakers, 50 percent of whom were women energy leaders/professionals, participated across four different top-class hands-on training workshops on webcast, which drew 300 subscribers.
Energy Transition Plenary, supported by the Ministry of Power, and Improving Utility Processes and Business Models to Enable Distributed Energy Resource Adoption, by USAID/PowerAfrica NPSP, according to Mr. Makinde.
"Others include the GEF SGP UNDP's Energizing Agri-Food Panel; the GIZ German Nigerian Hydrogen Office's Clean Power to Green Hydrogen Panel; and the All On & NEF's Energy Innovation Panel & Awards."
NAN