Energy Transition

Osinbajo travels to United States, Nigeria’s energy transition plan on the agenda

Published

1 year ago

September 3, 2022

Vice President Yemi Osinbajo, SAN, departs Abuja for the United States of America early Wednesday seeking global partnerships and support for Nigeria’s recently launched Energy Transition Plan.

Prof. Osinbajo is leading Nigeria’s Energy Transition Implementation Working Group (ETWG) on the US mission with meetings starting from the 1st of September to promote the plan and secure global support from the US government, the private sector, and other development partners.

The ETWG which is chaired by the VP comprises relevant ministers and other top government officials.

Nigeria’s Energy Transition Plan officially launched last week at a global virtual event is a homegrown, data-backed and multi-pronged strategy developed for the attainment of 2060 net-zero emissions commitment in 5 critical sectors: Power, Cooking, Oil & Gas, Transport & Industry. Nigeria needs $410 billion to deliver the Transition Plan by 2060.

Among other highlights, the plan needs at least $10 billion per annum above business as usual spending for effective implementation.

At the launch, the World Bank and a renewable energy organization – Sun Africa, pledged a sum of $1.5 billion each totaling an initial $3 billion investment to support the implementation of Nigeria’s Energy Transition Plan.

While in the United States, Prof. Osinbajo will meet US Vice President, Kamala Harris; US Secretary of Energy, Jennifer Granholm; Secretary of Treasury, Janet Yellen, and President of World Bank Group, David Malpass, among others.

The Vice President is also scheduled to speak on Nigeria’s Energy Transition Plan at the Centre for Global Development in Washington DC.

The Vice President’s delegation to the U.S. will include Minister of Finance, Budget and National Planning, Mrs. (Dr.) Zainab Ahmed; Minister of Works and Housing, Raji Babatunde Fashola; Minister of Power, Abubakar Aliyu; Minister of Environment, Mohammed Abdullahi; Minister of State for Petroleum Resources, Timipre Sylva and the Special Representative of the UN Secretary General/CEO for Sustainable Energy for All, Ms Damilola Ogunbiyi. Nigeria’s Ambassador to the United States, Dr. Uzoma Emenike will also join the delegation.

The Vice President will return to Abuja early next week.