Power: Nigeria Needs $400bn Investment – FG

Minister of State for Power, Mr Goddy Jedy-Agba, has said investments of over $400bn are required for Nigeria to achieve universal energy access by 2030.

He also said this and we necessary for Nigeria to achieve net-zero emission targets by 2050.

Jedy-Agba said this at the virtual conference of the Nigeria Energy Forum 2021, according to a statement issued by the ministry on Wednesday.

He shared the challenges facing the country in delivering energy to the 25 million Nigerians without access to energy using solar home systems and mini-grids.

The minister was said to have reassured delegates of the readiness of the country to participate in the forthcoming COP26 UN Climate Change Conference.

He said Nigeria would seek to align its position along ‘an energy transition that is equitable, inclusive and just’.

“A just energy transition for Nigeria will feature both clean energy technologies and natural gas, with the aim of achieving net-zero emissions by 2050,” he was quoted as saying.

He said the country had developed an Energy Transition Plan on pathways for achieving universal access by 2030 and net-zero targets by 2050.

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