African countries, through the African Union , are scouting a $1.3 trillion financing option in an attempt to address the energy crisis amid rising climate change and dwindling revenue from fossil fuels.• IRENA canvasses reasonable oil investment, tripling of renewables’ funding
He advocated a holistic approach to energy system development with a focus on public and private finance, de-risking mechanisms and diversifying energy sources to mitigate the impact of climate change. Already, one of Nigeria’s most ambitious infrastructure projects, the 4,128 kilometres trans-Sahara gas pipeline, which would link most African countries and Europe, is affected by insecurity.
With declining investment from fossil fuel, Abou-Zeid said gas remains a short-term transition plan for Africa, adding that the scale of energy is critical, requiring serious attention. He emphasised the need to build confidence in investors, as the multilateral development banks are needed to accept a level of risk. Presided over by Rwanda, the 14th Assembly is attracting more than 1,300 participants from 144 countries, including ministers, industry leaders and Chief executives to chart a strategic way forward across countries, regions and the world, in light of the findings of the first Global Stocktake at COP28.
The Kano State government, through its Anti-Corruption and Public Complaints Commission, has said National Chairman of All Progressives Congress , Dr. Abdullahi Ganduje, will face fresh charges still bordering on corruption and misappropriation of public funds.