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Nigeria needs $400bn to address energy constraints

The Federal Government has said that Nigeria requires $410 billion with $10 billion per annum to achieve the country’s transition plan by 2060 to address its energy constraint and policy flexibility.

Minister of State for Petroleum Resources, Timipre Sylva made the disclosure at the 7th Meeting of National Council on Hydrocarbons with the theme: ‘Roadmap and Strategic Option Towards Achieving Energy Transition in Nigeria’ held in Minna on Thursday.

Silva said the gathering of experts and policy makers in the energy sector was designed to discuss and review energy related issues, identified opportunities, problems to proffer solutions in line with global best practices.

Represented by the Ministry’s Permanent Secretary, Gabriel Tanimu Aduda noted that Nigeria is committed to achieving carbon neutrality, ending energy poverty by lifting 100 million people out of poverty and driving economic growth.

 

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