Lagos, July 26, 2023: The Federal Government on Wednesday reiterated its commitment to attaining zero carbon emission by 2060.
Mr Temitope Fashedemi, Permanent Secretary, Federal Ministry of Power, said this at the eighth Nigeria Energy Forum (NEF) opening plenary on Energy Transition for Growth in Lagos.
The theme of this year’s NEF2023 is: “Maximising Energy Transition For Economic Growth.”
The Permanent Secretary was represented by Engr. Ahmad Salihijo, the Managing Director, Rural Electrification Agency.
Fashedemi said the realisation of this goal depended on the implementation of Nigeria’s Energy Transition Plan (ETP) which was launched in 2022.
“As a nation, we would continue to strive toward increasing energy development through legislations, policies and critical projects.
“It is public knowledge that President Bola Tinubu has signed the Electricity Act, 2023.
“The implementation of the Act would greatly accelerate the sustainable exploitation of our abundant resources in meeting our electric power demands for industrialisation and economic growth,” he said.
In his keynote address, Mr Will Stevens, the United States Consulate General in Lagos, said Nigeria is one of the key participants in the US Department of energy’s global initiative.
“On the energy transition to a net zero world, there are more opportunities for partnership and expanded cooperation.
“Nigeria holds 33 per cent of the African continents total gas reserves with the potential to ensure sustained supply of natural gas across sub-Saharan Africa.
“Nigeria could provide natural gas for the entire continent if the necessary financing infrastructure and partnerships are in place,” he said.
Ms Inga Stefanowicz, Team Leader, Green and Digital Economy, European Union Delegation to Nigeria and ECOWAS, in her message said they are currently preparing a package of initiatives and infras investments for Nigeria to further boost on and off-grid energy solutions
“As Team Europe, we are currently preparing a package of initiatives and infrastructure investments further boosting on-and off-grid energy solutions.
“Some €400 million worth of these projects and programmes from the European Union and its Member States will contribute to Nigeria’s energy transition,” she said.
She said the EU would commit around €50 million to the Nigerian power sector this year, including the GET invest country window.
Mr Kola Adesina, the Group Managing Director, Sahara Group, said Nigeria needs to embrace new and stable energy sources to meet the anticipated growth in energy demand.
“Therefore, aligning Nigeria’s industrialisation with sustainable energy development requires modifying legislation and encouraging creative project financing options,” he said.
Adesina said that Sahara Group was planning an industrial park at the Egbin power station to provide stable and consistent electricity supply to manufacturers to boost industrialisation.
Mr John Alamu, the Group Managing Director, Johnvents, said the company would install a 3,000-kilowatt gas generator fleet to power industrial facilities as an immediate step toward this goal.
In his welcome remarks, the Chairman, NEF, Dr Oluwole Daniel Adeuyi, said that energy transition refers to a progressive shift from conventional to alternative and more sustainable form of energy production and consumption.
“NEF2023 follows the fuel subsidy removal, foreign exchange unification and electricity sector devolution in Nigeria.
“This presents opportunities for restoring investor confidence, rebuilding cross-sector trust, and restructuring the value chain, thereby creating an enabling environment for producers and consumers at all levels,” he said.
Adeuyi said that winners of the Tertiary Institutions Students Energy Pitch Contest were awarded N2.5m to develop innovative energy solutions at the live finals held during the forum, supported by All On.
“This is an impact investment company with a focus to providing energy access to the unserved and underserved in Nigeria.
“First prize winner was One Grid Energies from University of Nigeria Nsukka and Federal University of Technology Owerri.
”Second prize was Let it Cold, Bayero University Kano, and third prize was Smokeless Briquettes, Federal University of Technology Akure,” he said.
The Co-Chairman of the Forum, Mr Adekunle Makinde, said the Africa Energy Innovation Contest organised by the NEF2023 was open for young professionals below 35 years to propose clean energy solutions across four tracks.
