Nigeria’s Government is Relying on an Energy Transition Plan to Lift 100 million People out of Poverty.
The federal government has made the fulfillment of Nigeria’s Energy Transition Plan. A condition for achieving its goal of releasing 100 million Nigerians from the chains of poverty (ETP).
The Nigeria Energy Forum (NEF2022) was conducted virtually and Mr. Goddy Jedy-Agba, the minister of state for power, insisted that reaching the net-zero aim would require investing $1. 9 trillion until 2060.
At the summit, the European Union (EU) pledged to assist Nigeria in implementing its energy transformation strategy; by funding programs and projects totalling over €400 million.
The minister said that in addition to helping 100 million Nigerians escape poverty, the ETP will promote the nation’s economic expansion.
The ETP research, he said, demonstrated that achieving Nigeria’s net-zero target required $1. 9 trillion spending up to 2060, including $410 billion above business-as-usual spending.