We’re working towards reducing energy shortcomings by year 2030 – Buhari

Buhari UN

We’re working towards reducing energy shortcomings by year 2030 – Buhari

Muhammadu Buhari says Nigeria is working on an ambitious Energy Plan towards reducing the energy shortcomings by 2030.

The President spoke in line with Nigeria’s role as a Champion for the Energy Transition, the theme of the -Level Dialogue on Energy at the sidelines of the 76th Nations General Assembly in New York.

Buhari noted that Nigeria’s commitment to a just transition is reflected in its ambitious Energy Compact, which includes the “’s flagship project to electrify Five-Million households and Twenty-Million people using decentralized solar energy . This is a major first step towards closing our energy access deficit by 2030.

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“Nigeria’s commitment is also reflected in the development of our Energy Transition Plan, which was developed with the of the UK COP26 Energy Transition Council.”

Buhari called for support from developed countries to the financing needed to accelerate a just energy transition for all.

Buhari said “the scale of financing required for Nigeria to achieve net-zero, amounts to over Four-Hundred Billion US Dollars across the Nigerian economy in excess of business-as-usual spending over the next thirty years.

“This breaks down to One-Hundred and Fifty-Five Billion US Dollars net spend on generation capacity, One-Hundred and Thirty-Five Billion US Dollars on transmission and distribution infrastructure, Seventy-Five Billion UD Dollars on buildings, Twenty-One Billion US Dollars on and Twelve-Billion US Dollars on transport,” Buhari explained

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“As a global on the energy transition, it is imperative that I flag a major risk to development that stems from the current narrative around the energy transition, particularly on the role of gas and the of financing,” he said.

Buhari said in his administration’s development objectives, gas will have a key role to play here for some years before being phased out.

The Nigerian noted that it was more worrisome that solid fuel in Africa causes almost 490,000 premature deaths annually.

President Buhari is currently in New York, the United States of America where he led the Nigerian delegation to attend the 76th General Assembly, UNGA.

The Nigerian also addressed the Assembly on Friday amidst protests from those who feel he has not done enough to address numerous challenges facing Nigeria, especially in the areas of security and hunger.

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