The Nigerian Economic Summit Group (NESG), in collaboration with the GIZ-Partnership for Accelerated Global Energy Transition (PACT), held a high-level stakeholder engagement session on Wednesday, February 26.
The session focused on driving Nigeria’s successful energy transition by providing guidance to partners involved in related initiatives and supporting targeted activities.Nigeria has committed to achieving net-zero emissions and, in 2021, submitted its updated Nationally Determined Contributions (NDC) to the United Nations Framework Convention on Climate Change (UNFCCC).
The country is currently implementing and reviewing its Energy Transition Plan (ETP), which outlines the ambitious efforts required to achieve the 2060 net-zero target while meeting national energy demands.
Nigeria launched its Energy Transition Plan (NETP) on August 24, 2022, to further its commitment to achieving net-zero carbon emissions by 2060.
The plan aims to lift 100 million Nigerians out of poverty, drive economic growth, introduce modern energy services to the entire population, manage the long-term job losses expected in the oil sector due to declining global fossil fuel demand, and promote a fair, inclusive, and equitable energy transition in Africa, with gas serving as a transitional fuel.
Additionally, Nigeria has enacted several climate-related policies, including the Climate Change Act of 2021, the National Climate Change Policy (2021-2030), and the National Climate Change Programme for Nigeria (2021-2030).
Speaking on the opportunities and challenges of Nigeria’s Energy Transition Plan (ETP), Mrs. Dolapo Kukoyi acknowledged that while Nigeria’s energy transition goals are ambitious, they remain achievable through concerted public and private sector efforts.
The stakeholder engagement session reinforced the critical role of collaboration, policy guidance, and capacity building in Nigeria’s transition to a sustainable energy future. With concerted efforts from all stakeholders, the country can achieve its net-zero ambitions while fostering economic growth and energy security.
