FG Asserts Commitment to Energy Transition Plan
By Adedapo Adesanya
The federal government has said that the country is on the path to achieving its energy transition plan.
The country requires $410 billion with $10 billion per annum to address the nation’s energy constraint and policy flexibility as well as achieve Nigeria’s transition plan by 2060.
Speaking at the 7th Meeting of the National Council on Hydrocarbons, themed Roadmap and Strategic Option Towards Achieving Energy Transition in Nigeria, the Minister of State for Petroleum Resources, Mr Timipre Sylva, said Nigeria was committed to achieving carbon neutrality, ending energy poverty by lifting 100 million people out of poverty and driving economic growth.
At the meeting held in Minna, the Niger State capital, Mr Sylva said the gathering, which brings together experts and policymakers in the energy sector, was designed to discuss and review energy-related issues, identify opportunities, and proffers solutions to inherent problems in line with global best practices.
He further stated that Nigeria will be one of the 50 countries to have launched its guidelines for the management of fugitive methane and greenhouse gas emissions in the upstream oil and gas sector latest this year.
According to him, the country, through the Solid Minerals Development Fund is on the verge of unveiling its cutting-edge technology in gold mining to eliminate harmful reagents and use of cyanide for human and environmentally friendly practices.
Mr Sylva revealed that 34 memorandums had been received, seven were merged, and 11 were stepped down. He added that the memos were presented to the council for consideration with the knowledge that Niger State has a large number of solid mineral resources and hydrocarbons deposited in commercial quantity.
In his remark, the Niger State Governor, Mr Abubakar Bello, reaffirmed that the state has commercial deposits of hydrocarbons in Bida Basin, noting that this is further verified by the progressive reports and findings of the consultants from IBBU Lapai and FUT Minna.
The governor, who was represented by the Secretary to the State Government, Mr Ahmed Matane, urged the government to show more political will, appealling to the relevant agencies to expedite actions on the exploration in the Bida Basin for optimal benefits.
He explained that the Niger State would provide lands for infrastructural investments, ease of doing business, and adequate security in the LPG industry, adding that state tax holidays and other fiscal incentives will be provided for private sector participation, as well as developing a comprehensive Niger State energy policy among other things.