Vice President Yemi Osinbajo has said Nigeria needs to spend over $410bn to deliver its energy transition plan by 2060.
Osinbajo made this known at the global virtual inauguration of Nigeria’s Energy Transition Plan on Wednesday.
This was disclosed in a statement by his spokesman, Laolu Akande.
The plan is a roadmap to control the dual crises of energy poverty and climate change.
Osinbajo highlighted the significant scale of resources required to attain both development and climate ambitions.
According to him, “For Africa, the problem of energy poverty is as important as our climate ambitions.
“Nigeria would need to spend 410 billion dollars above business-as-usual spending to deliver our transition plan by 2060, which translates to about 10 billion dollars per year.
“The average 3 billion dollars per year investments in renewable energy recorded for the whole of Africa between 2000 and 2020 will certainly not suffice.”
As Nigerians express their frustrations over the recent fuel price hikes by the Nigerian National…
The Corporate Affairs Commission (CAC) has officially removed companies that failed to file their annual…
The Senate on Thursday agreed with the House of Representatives' recommendation to replace the death…
Monday Odigie, the coach of Bendel Insurance Football Club of Benin, has resigned from his…
Robert Lewandowski has reflected on the time he nearly joined Manchester United in 2012, only…
Maduka Okoye has reflected on his first appearance for the Super Eagles in two years.…