says Nigeria is working to secure a just energy transition partnership to aid the country’s power transition targets.
At the moment, only South Africa and Senegal have been able to sign JETP deals worth billions of dollars to catalyse investments in renewable energy generation in Africa., Tinubu said Nigeria seeks to be considered for JETP, noting that the financing scheme is fast becoming “a source of capital for climate-sensitive energy efforts”.The president, who was represented by Ishaq Salako, minister of state for environment, said such and other financial opportunities must be scaled up across Africa.
“My team is currently working on a proposal for the G7 for JETP for Nigeria. It is encouraging that South Africa and Senegal have secured JETPs but they must be scaled up across Africa in addition to other strategic financing opportunities.”Tinubu said the summit is evidence that Africa is rising up to the challenges and taking decisive steps to deliver a sustainable future for its people.
“Similarly, the unconditional targets in our nationally determined contributions require $17.7 million in investment annually,” he added.
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