May 26, 2024

Prof Osinbajo seeks energy industry players’ innovative solutions, technology to complement Nigeria’s energy transition agenda

Oredola Adeola
Professor Yemi Osinbajo, Outgoing Nigeria’s Vice President has called on the energy industry players to come up with innovative solutions and technology that can be structured to align with Nigeria’s energy transition agenda and green journey.
Osinbajo made this call on Tuesday at the Nigeria International Energy Summit (NIES) at the International Conference Center, Abuja on Tuesday.
 
The outgoing VP in his remark at the summit emphasized Nigeria’s role in the actualization of a green world and economy, emphasising the need for better harmonization between the government and the private sector in delivering this important mandate of ETP.
 
According to him, the partnership between the private sector and the government on the transition plan presents the opportunity for Nigeria to drive the next stage of global economic progress by becoming the first truly green civilization in the world.
He said, as the chairman of the Nigerian Energy Transition Working Group (ETWG), it is clear to me that Nigeria has a strategic role in delivering the sustainable energy future that Africa and indeed the world must have in the next few years.
“There two main existential crisis that are presently facing us as people, the first is global warming and lack of energy( energy power).
“There is a need for clarity on how we could optimize the use of liquified natural gas to fight the existential threat of energy poverty affecting millions of people in the country and Africa, at large.
“We need to structure our thinking in terms of energy transition and access to power.
“Gas must remain an integral part of the energy transition ecosystem, it cannot accept opposition.
“Gas projects must be funded in order to achieve the transition. This is crucial as it is possibly the only thing that guarantees the entire clean energy agenda” the VP said.
Professor Osinbajo further emphasised that Africa should stop carrying on with a victim mentality in the process towards a clean energy
journey.
The continent of Africa should serve as the first and true green civilization in the world, by leveraging and developing its renewable energy potential with a 60 percent strong, vibrant, and young population.
We can do much more in developing an agenda that could benefit the world. Start from a low emission base, focus on our potential, and move very fast to achieve 5.3 GiggaWatt per year until 2060.
“We also need to achieve the agenda of converting 2 million Nigerians into adopting clean cooking annually.
Professor Osinbajo however affirmed that the agenda to clear the green civilization is achievable, if the African government and the private sector players set the right agenda.
He also called on the private sector players in Africa to Nigeria unlock the mix of energy potentials in the continent adding that most African countries are resource-rich but energy-poor.