By Melvin Onwubuke
The African Climate Foundation and National Economic Summit Group are partnering to provide, private sector support for Nigeria’s energy transition plan.
This was disclosed on Saturday at a workshop tagged “Private Sector Stakeholders Engagement Towards a Successful Nigeria’s Energy Transition,” according to Daily Trust.
The focus was to strengthen the public – private cooperation in implementing Nigeria’s energy transition strength and fortifying the carbon market, to steer socioeconomic development.
Mrs. Dolapo Kukoyi, while providing an overview of the of the project, thematic lead, Climate change and green economy of NESG, highlighted it’s goal of promoting information sharing and policy reform to support interventions in fostering energy transition and inclusive development.
Meanwhile, Mr Zira Quanghe of African Climate Foundation emphasized the organizations dedication to Climate Finance. He stressed 12 Partnerships, since 2022 focused on advancing energy and carbon finance.
He noted that Nigerians need to embrace an economic transformation model, that will expand energy access, create jobs and diversify the economy.
In addition, Dr. Segun Adaju, from the Energy Policy Commission department of NESG, underscored the role of Nigeria’s energy transition project in alleviating the expected job losses in the oil sector, in a time of decline, in global demand for fossil fuel.
He also recognized several challenges frustrating the National Energy Transition Project which includes deficit in skilled labour, insufficient and costly financing, low public awareness and insufficient political will.
