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The Special Adviser on Strategic Communication and Media Relations to the Minister of Power, Mr Bolaji Tunji, stated this in a statement in Abuja on Thursday, August 29, 2024.
Tunji said that the Minister of Power, Mr Adebayo Adelabu, made this statement during a dialogue with an international audience comprising representatives from Britain, Brazil, Pakistan, Tonga, Philippines, Uruguay and Moldova, among others.
He said the event was organised by the United Nations Development Programme (UNDP) and the United Nations Office for Project Services (UNOPS).
He said that the Minister, who joined the event virtually, made a presentation titled: “Generating Sustainable Energy for Development…Nigeria’s Bold and Ambitious Vision”.
Adelabu urged the United Nations to be involved in Nigeria’s effort at achieving its energy targets by providing technical assistance, capacity building, and financial support.
The minister stated that the Federal Government had implemented a multi-faceted approach aimed at addressing issues across the country's electricity supply industry value chain and setting the sector on a path to recovery and prosperity.
According to Adelabu, Nigeria is committed to achieving Net Zero by 2060 with a short-term target under its vision 30:30:30, to attain 30 Gilo Watt (GW) of grid energy supply with a 30 per cent Renewable Energy mix by 2030, and a long-term goal of universal energy access.
Nigeria aims to adopt cleaner and more sustainable energy solutions to achieve energy security and meet the demands of its growing economy.
However, the country faces challenges such as mobilizing finance for project development, inadequate technical and commercial capacity, limited local content, and infrastructure limitations.
To address these issues, the Federal Government has streamlined legislative and policy processes, leveraged public and private funds, embraced technology and innovation, and initiated a national programme to fast-track infrastructure development.
The government is also fostering strategic partnerships and collaborations with investment communities and development partners to leverage global expertise, share resources, and co-invest in the energy sector.
