FG Requires Over $17bn for Energy Transition Plan

By Adaobi Rhema Oguejiofor

The Federal Government has said that it requires over $17 billion, which is equivalent to N13.4 billion, in order to achieve its energy transition plan.

It also revealed that this is part of measures to tackle climate-related challenges, adding that since the removal of fuel subsidy, consumption of fuel has reduced by about 30 per cent, which has led to a reduction in emissions.

The Minister of State for Environment, Dr. Iziaq Salako, stated this at the Nnamdi Azikiwe International Airport on Thursday after arriving from the just concluded Africa Climate Summit in Nairobi, Kenya.

Salako, who represented President Bola Tinubu at the summit, stated that African leaders at the summit agreed that the developed world should treat Africans as partners rather than beggars in the efforts to tackle climate-related crises.

He added that African leaders at the summit indicated that the issue of climate that Africa is bearing was a creation of the developed world.

In his own words, “Africa is already bearing the brunt of a climate crisis it did not cause but with our significant renewable energy resources, critical minerals, vast carbon sinks, and growing population, we can be a strong solution centre.”