Energy Transition: Osinbajo Advocates For Wide-Reaching Coalition

Professor Yemi Osinbajo, vice president of Nigeria, has urged for a Pan-African position on the goal of achieving net-zero emissions (Energy Transition) worldwide by 2050–2060 to be developed and promoted by leaders of the continent.

[keypoints]

• Urged for a Pan-African position on the goal of achieving net-zero emissions worldwide
• the plan is geared toward the actualization of a Pan African initiative
• The broad-based coalition will ensure that the private sector and government work together
• The Nigerian government has adopted deliberate strategies to manage the procedures.

[/keypoints]

This, according to Professor Osinbajo, would enhance the search for a just energy transition.

In a discussion with diplomats from the G-7 nations—the United States, United Kingdom, Germany, Canada, France, Japan, and the Republic of Egypt—he made this statement on Thursday.

This was said in a news release issued on Thursday by Laolu Akande, the vice president’s spokesperson.

He claims that the Vice President stated, [quotation name=’Professor Yemi Osinbajo’]”the plan is geared towards the actualization of a Pan African initiative,”[/quotation] following the presentation of Nigeria’s Energy Transition Plan and brief remarks by the diplomats and national representatives.

He stated, [quotation name=’Professor Yemi Osinbajo’]“Developing a common African narrative is important because it sets the stage in providing a clear vision and a clear objective to have a Pan African initiative.

“The broad-based coalition will ensure that the private sector and government work together in driving the processes and the nuances are adequately taken care of. We must factor in all the nuances across the continent.”[/quotation]

The vice president stated that [quotation name=’Professor Yemi Osinbajo’]”there is a great deal of enthusiasm and support for the country’s energy transition plan.[/quotation]

According to Professor Osinbajo, the Nigerian government has adopted deliberate strategies, such as creating an Energy Transition Office to manage the procedures.

Mohammad Abubakar, Nigeria’s environment minister, stressed throughout the discussion the necessity for a Pan-African transition plan to provide a common understanding of the continent’s position at the upcoming Climate Change Conference.

He reaffirmed Nigeria’s solid commitment to the net-zero emission targets to the G-7 members and development partners.

In a similar vein, Hajiya Zainab Ahmed, Minister of Finance, Budget, and National Planning, stated that while authorities work to ensure stability in fiscal and monetary policies, stakeholders, particularly in Africa, must identify their shared interests and take advantage of current opportunities to forge new alliances.

Mr Matthias Schmale, the UN representative and humanitarian coordinator in Nigeria praised the vice president’s initiative in creating and carrying out an energy transition plan and pledged the UN’s support for its realization.

The United States will assist in actions aimed at fostering a favourable climate for investments in the sector, according to US Ambassador to Nigeria Mary Beth Leonard.

By referring to Nigeria’s proposal as “a manifestation of the country’s position on energy transition,” she acknowledged the creation of a movement supporting a shared strategy for Africa’s energy transition.

In addition to what the UK intended to do in the field of off-grid solutions, additional UK investors have expressed interest in the nation’s renewable energy sector, according to Catriona Laing, the country’s high commissioner to the UK.

Additionally, Mr Shubaham Chaudhuri, the country director for the World Bank in Nigeria, praised ongoing efforts to modernize Nigeria’s energy sector and urged for increased investment in off-grid alternatives while assuring the bank’s support for measures taken by the government.

The European Union, the Republics of France, Germany, Japan, Canada, Egypt, the International Monetary Fund (IMF), and the United Nations Development Programme (UNDP) all praised Nigeria’s leadership toward the realization of an African initiative for the energy transition in their own remarks.

At the conference held at the Presidential Villa in Abuja, representatives from other international organizations like the United Nations, World Bank, and International Monetary Fund (IMF) were also present.

Top federal government representatives present at the meeting included Mr Abubakar Aliyu, Minister of Power; Mr Goddy Jedy Agba, Minister of State for Power; Mr Mele Kyari, Group Managing Director of Nigeria National Petroleum Corporation (NNPC); and Mr Ahmad Salihijo Ahmad, Managing Director of the Rural Electrification Agency.

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