From Charity Nwakaudu, Abuja
The Component Lead, Enabling Environment Nigerian Energy Support Programme (NESP), Mr. Joshua Yari Garba, has stated that the Nigerian Government would invest not less than 19 million Euros in the third phase of its Energy Support Programme.
Garba made this disclosure at a one-day Energy Summit organised by Energy Commission of Nigeria (ECN) in collaboration with Abloom Trust Nigeria Ltd in Abuja, yesterday.
He further explained that 48 million Euros was invested in the second phase of the programme.
Garba added that the World Bank in partnership with the Nigerian Electrification Programme would also invest 750 million dollars to the Federal Government in terms of integration of renewable energy and energy efficiency in the rural areas.
Garba said: “One key area of improving investments in energy sector is partnership within government and government, private sectors and international communities.”
In his remarks,the Energy Commission of Nigeria restated that the country needs not less than $4bn investments annually to completely depend on renewable energy and go green by 2050
Dr Mustapha said that since the government can not do it alone, the commission has started wooing investors to invest in infrastructure that will help in providing clean energy supply in the country.
” Nigeria will need about four billion dollars every year for us to go completely green by 2050. For us to reach that target,the government can not take that burden alone that is why this forum is very important. We brought all stakeholders to discuss and drive on how to achieve the goal.
“It is a huge amount but we have already started talking to so many investors,on setting up plants in the country to produce the infrastructure that will enable us to produce clean energy.
He stressed that collaboration amongst government institutions, private sector players, and civil society organizations is crucial to driving progress and achieving the goals of energy transition in Nigeria.
I am certain that collaboration will provide the avenue for robust discussions, knowledge sharing, and the formulation of actionable policy recommendations to guide the country’s energy transition journey. “