Energy Transition: NEITI To Unveil 2060 Net Zero Target Roadmap

The Nigeria Extractive Industries Transparency Initiative, NEITI, has said it would soon unveil a roadmap on Nigeria’s engagements in the energy transition programme to meet Federal Government target of net zero emission by year 2060.

NEITI executive secretary, Orji Ogbonnaya Orji made this disclosure at a workshop held by NEITI in collaboration with Natural Resource Governance Institute (NRGI) based in the United States, according to a statement by agency’s head, Communications and Advocacy, Mrs. Obiageli Onuorah in Abuja yesterday.

Orji who explained that the road map will be comprehensive in content and with a framework that contains information and data to drive the implementation of the federal government’s overall Energy Transition Plan, also pointed out that the global push for cleaner energy has far reaching implications for a resource dependent country like Nigeria.

RELATED

Oil Prices Plunge 6% As Middle East Ceasefire Eases Supply Fears

2 hours ago

New Afreximbank President To Restructure African Trade

2 hours ago

According to him, “The transition from carbon-based energy to renewable energy has far-reaching implications for the global economy, particularly Nigeria.”
cations for Nigeria, a highly natural resource revenues dependent country, are very huge, especially with regard to energy security, citizen’s livelihood, job opportunities and economic development.

“For us at NEITI, we have legitimate interest and duty to help our country develop comprehensive content to guide its rule of engagements required to maximise the opportunities in energy transition while minimizing its associated risks”.

The chairman of the NEITI Board, Mr. Olusegun Adekunle, in his remarks, reaffirmed the commitment of the Board to provide NEITI with the required policy direction that aids the development of the road map. He describes energy transition as the future of the industry. Mr. Adekunle also charged workshop’s participants to take advantage of the workshop to build their skills and improve their knowledge on energy transition.

Ms. Nafi Chinery, the West African Regional Manager of NRGI, underlined the need to include diversification of Nigeria’s economy as one of the priorities in the country’s energy transition response.

The NRGI Regional Manager further described NEITI as a reputable and efficient agency whose partnership with her organisation will help shape energy transition programs in both Nigeria and the West African Sub region.

“Nigeria has a chance to minimise the economic shocks from the energy transition but can only do so if the government responds quickly by making evidence-based decisions and putting in place appropriate policy measures to mitigate the risks and enhance the benefits and diversification potentials provided energy transition”, the NRGI Western African boss added.