The Federal Government is seeking the United Nations technical assistance and financial support to meet Nigeria’s energy targets.
Mr Bolaji Tunji, the Special Adviser on Strategic Communication and Media Relations to the Minister of Power, said this in a statement in Abuja on Thursday, August 29, 2024.
Tunji said that the Minister of Power, Mr Adebayo Adelabu, said this at a dialogue with an international audience made up of representatives from Britain, Brazil, Pakistan, Tonga, Philippines, Uruguay and Moldova, among others.
He said that the event was organised by the United Nations Development Programme (UNDP) and the United Nations Office for Project Services (UNOPS).
He said that the Minister, who joined the event virtually, made a presentation titled: “Generating Sustainable Energy for Development…Nigeria’s Bold and Ambitious Vision”.
Adelabu urged the United Nations to be involved in Nigeria’s effort at achieving its energy targets by providing technical assistance, capacity building, and financial support.
The minister said that the Federal Government had implemented a multi-prolonged approach designed to tackle issues across the country’s electricity supply industry value chain and set the sector on a path to recovery and prosperity.
According to Adelabu, Nigeria is committed to achieving Net Zero by 2060 with a short-term target under its vision 30:30:30, to attain 30 Gilo Watt (GW) of grid energy supply with a 30 per cent Renewable Energy mix by 2030, and a long-term goal of universal energy access.
He said that these targets presented an opportunity for Nigeria to adopt cleaner and more sustainable energy solutions, as the country strives to achieve energy security and meet the demands of the country’s growing economy.
The minister said Nigeria was faced with challenges, which included mobilisation of finance for project development, inadequate technical and commercial capacity across the value chain.
Other challenges he said included limited local content in products and services, and infrastructure limitations that hinder the adoption of variable renewable energy technologies on the national grid.
“To set the power sector on the recovery path, the Federal Government has streamlined legislative and policy processes to reduce bureaucratic red tape and encourage active participation from sub-national entities thereby, fostering investment and project execution.
“We are leveraging both public and private funds to de-risk project investments and attract more substantial finance commitment, enabling larger and faster project rollout.
“We are embracing technology and innovation to help investors identify optimal investment opportunities.”
According to him, we have initiated a national programme to fast-track infrastructure development aimed at building a robust, viable, and resilient grid network.
The minister said that the Federal Government was also fostering strategic partnerships and collaborations with investment communities and development partners to leverage global expertise, share resources, and co-invest in the energy sector.
He expressed delight at the opportunity given to him to speak at the forum, adding that it provided him the opportunity to explore the challenges and opportunities that countries face in establishing and executing clean energy transition pathways.
“The very concept of this event, which seeks to identify the barriers to universal clean transition, especially in developing countries, speaks volumes about our global shared vision of energy sustainability and economic development,” he said.
By Constance Athekame
