In a recent gathering held in Abuja, energy, climate, and environmental experts deliberated on Nigeria’s Energy Transition Plan (ETP), highlighting the need for greater government commitment to achieve the country’s ambitious climate and energy goals.
The event, organized by the Shehu Musa Yar’Adua Foundation and supported by the Ford Foundation, Health of Mother Earth Foundation (HOMEF), and Nextier, brought together key stakeholders to discuss strategies for ensuring a just and inclusive energy transition.
Key Factors for a Successful Transition
During the event, Patrick Okigbo III, Founding Partner at Nextier, outlined several factors critical to the success of Nigeria’s energy transition. He emphasized the importance of strong political will, urging for more concrete actions rather than mere discussions. Okigbo also called for greater coordination among stakeholders, including local communities affected by extractive industries.
He further stressed the need for integrating the Energy Transition Plan with other national development and security policies, ensuring a holistic approach to energy transformation. According to Okigbo, the government’s role should be more focused on facilitating and regulating the transition process rather than being the sole actor, allowing the private sector to lead renewable energy initiatives.
The Impact on Extractive Communities
Okigbo warned of potential negative consequences for Nigeria’s extractive communities, particularly in the Niger Delta, as the global shift toward renewable energy accelerates. He pointed out that these regions might face economic challenges as the world reduces dependence on fossil fuels. Additionally, he raised concerns about conflicts over abandoned petroleum assets and competition for critical metals needed for renewable technologies.
To ensure a fair energy transition, Okigbo underscored the need to place local communities at the center of the process, ensuring their involvement and benefiting from new opportunities in the green economy.
Financing the Energy Transition
Lai Yahaya from the African Policy Research Institute (APRI) highlighted the growing adoption of renewable energy technologies across the Global South, including Nigeria’s efforts in solar, wind, hydro, and geothermal energy. However, he also pointed to the significant financing gap hindering the full realization of the country’s energy transition goals.
Yahaya noted that Nigeria has only mobilized $1.9 billion of the estimated $17.7 billion required annually to meet its climate objectives, leaving a considerable $15.8 billion shortfall. He called for increased investment and stronger collaboration between key stakeholders, including the Nigerian National Petroleum Company Limited (NNPC), to close this gap.
Strengthening Government Leadership
Nnimmo Bassey of HOMEF emphasized the crucial role of government leadership in reducing emissions and ensuring a successful energy transition. He also addressed the broader issue of climate financing, particularly the need for developed nations to recognize the climate debt owed to the Global South due to centuries of environmental exploitation.
Bassey argued that the environmental damage in the Niger Delta is so severe that even substantial financial efforts would not be enough to fully restore the region. He called for more robust international cooperation to address loss and damage from climate change, which remains a key aspect of global climate justice.
Collaboration for a Just Transition
Other speakers at the event, including Amara Nwakpa of the Yar’Adua Foundation, Emmanuel Kuyole of the Ford Foundation, and Lanre Shasore of Sustainable Energy for All, also echoed the importance of collaboration between governments, private sector players, and international organizations to drive Nigeria’s energy transition forward.
The discussions underscored the need for inclusive policies that involve all stakeholders, from government agencies to local communities, in shaping Nigeria’s clean energy future.
Also read:
Climate change: Transitioning to Renewable Energy and Embracing Decarbonization.