The federal government has stated that the country would create 340,000 jobs with transition into renewable energy by 2030 and 840,000 in 2060.
Speaking during the second edition of the German-Nigerian Symposium on Green Energy, the Minister of Power, Adebayo Adelabu, said the energy transition would result in economic and job creation with quality power supply.
Adelabu stated that 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.
“Nigeria is committed to deliver 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 result in significant job creation with up to 340,000 jobs by the year 2030 and 840,000 by 2060.”
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He noted that gas would play a critical role in the transition from fuel in Nigeria, thus, the ETP would create significant investment opportunities for establishment and expansion of industries related to solar energy, green hydrogen and electric vehicles.
He said the country currently needs $1.9tn to attain net zero emission by 2060 and has identified a $32bn investment opportunity based on current programmes and projects that are directly related to just energy transition.
“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, said, “Germany and Nigeria are both committed to driving the production and use of hydrogen.”
She also referred to the German Chancellor, Olaf Scholz’s recent visit to Nigeria, in which he highlighted that the energy partnership between both nations are not only about traditional fossil fuels but also about hydrogen, the gas of the future.
The Country Director, GIZ Nigeria & ECOWAS, Dr. Markus Wagner, in his remarks stated that it is crucial to recognise green hydrogen has the potential to revolutionise the energy landscape as it offers a path to reducing carbon emissions, diversifying energy sources and boosting economic growth.
