Nigeria’s Energy Transition Plan: Osinbajo departs for U.S.

Vice President Yemi Osinbajo on Wednesday departed Abuja, for the U.S. to seek global partnerships and support for Nigeria’s recently inaugurated Energy Transition Plan.

The Senior Special Assistant to the President on Media and Publicity Office of the Vice President, Laolu Akande, disclosed this in a statement in Abuja.

Mr Osinbajo is leading Nigeria’s Energy Transition Implementation Working Group (ETWG) on the U.S. mission for meetings.

The meetings, which start 1 September, are to promote the plan and secure global support from the U.S. government, the private sector, and other development partners.

The ETWG, which is chaired by the vice president, comprises relevant ministers and other top government officials.

Nigeria’s Energy Transition Plan, inaugurated the previous week at a global virtual event, is a homegrown, data-backed and multi-pronged strategy developed for the attainment of 2060 net-zero emissions.

Their commitments are in five critical sectors — Power, Cooking, Oil and Gas, Transport and Industry.

Nigeria needs 410 billion dollars to deliver the Transition Plan by 2060.

Among other highlights, the plan needs at least 10 billion dollars per annum above business as usual spending for effective implementation.

At the inauguration, the World Bank and a renewable energy organisation – Sun Africa, pledged 1.5 billion dollars each, totaling an initial 3 billion dollars investment to support the implementation of Nigeria’s Energy…

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