Vice President Kashim Shettima disclosed on Friday that funding the nation's energy transition requires investments of over $10 billion per year up to 2060. He also revealed that the nation currently has the highest rate of deforestation in the world, as people primarily depend on biomass for energy generation. According to him, desert encroachment is…
Shettima made these remarks at an energy transition symposium themed “Energy Transition in an Oil-Dependent Economy,” organised by Development Agenda Magazine in Abuja. He explained: “This is a critical and often understated aspect of the energy transition. Supporting the energy transition locally and globally can create new industries in EV manufacturing and associated ecosystems; support the livelihoods of miners, including artisanal miners cut across the country.
He noted some critical environmental considerations which, if not adequately managed, would actually hamper its ability to change the lives of millions of our people for the better. “In 2021, Nigeria declared the 2020s the Decade of Gas. At the heart of the decade of gas, is improving fiscal terms and targeted incentives that would unlock up to 10 billion sef day of gas supply by 2030 to be channelled to serve the power sector, commercial sector and gas-based industries. Critical to this unlock is a focus on non-associated gas which constitutes the lion- share of the over 200 trillion cubic feet of proven gas reserves in the country.
In his remarks, Kaduna State governor, Uba Sani, said the state government was in tune with the federal government’s plan and targets to attain a minimum of 30 per cent of energy from renewables by 2030. Eko Electricity Distribution Company has announced the new, deregulated meter prices for metres deployed under the Meter Asset Provider Scheme. The distribution company disclosed this in a statement on its official X account on Friday, revealing prices offered by six different MAP vendors for both single-phase and three-phase metres.