The Minister of Power, Adebayo Adelabu, while speaking during the second edition of the German-Nigerian Symposium on Green Energy on Monday, explained that the energy transition would result in economic and job creation with quality power supply.
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According to Adelabu, the federal government is committed to achieving net-zero emissions by 2060 but needs to expand power generation in the country to stop the use of diesel and petrol generators.
He reiterated, “Nigeria is committed to delivering adequate renewable and affordable power to its citizens in a sustainable manner. The implementation of Nigeria’s Energy Transition Plan (ETP) will not only provide economic development but also result in significant job creation with up to 340,000 jobs by the year 2030 and 840,000 by 2060.”
The minister believed that gas would play a critical role in the transition from fuel in Nigeria, stressing that the ETP would create significant investment opportunities for the establishment and expansion of industries related to solar energy, green hydrogen, and electric vehicles.
Based on current programs and projects directly related to just energy transition, he explained that the country currently needs $1.9tn to attain net-zero emissions by 2060 and has identified a $32bn investment opportunity.
He added that due to insufficient generation and grid constraints, the majority of households, businesses, and industries in the nation generate their electricity with diesel and petrol generators.
The Ambassador of the Federal Republic of Germany to Nigeria, Annett Günther, stated that Germany and Nigeria are both committed to driving the production and use of hydrogen.
She stated that during the German Chancellor, Olaf Scholz’s recent visit to Nigeria, he highlighted that the energy partnership between both nations is not only about traditional fossil fuels but also about hydrogen, the gas of the future.
In his remarks, the Country Director, GIZ Nigeria & ECOWAS, Dr. Markus Wagner, explained that it is crucial to recognize green hydrogen as having the potential to revolutionize the energy landscape as it offers a path to reducing carbon emissions, diversifying energy sources, and boosting economic growth.
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