Nigeria requires $410 billion to achieve its energy transition plan by 2060. The Federal Government says it needs it to address challenges and policy flexibility in the sector.
This information is coming from Timipre Sylva, The Minister of State for Petroleum Resources. He said this at the 7th Meeting of the National Council on Hydrocarbons in Minna.
“Roadmap and Strategic Option Towards Achieving Energy Transition in Nigeria.” was the theme of the meeting as reported by The News Agency of Nigeria
Gabriel Aduda, who represented the Ministry’s Permanent Secretary, said that Nigeria was committed to achieving carbon neutrality.
“This will end energy poverty as it will lift 100 million people out of poverty and drive economic growth forward.”
The minister of state said the country through the Solid Minerals Development Fund was on the verge of unveiling a cutting-edge technology in gold mining.
He said to this end, the Federal Government had received 34 Memorandum of Understanding.
Sylva said seven were merged and 11 were stepped down, adding that the memos had been presented to the council for consideration.
He applauded Niger State for its large quantity of solid mineral resources and hydrocarbon deposits in commercial quantity.
NAN reports that the three-day meeting is being attended by stakeholders in the oil and gas sector, hydro, energy, academia, and security as well as traditional leaders.
NAN
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