COP27: What Nigeria Is Pushing For

As the United Nations Conference of Parties 27 resumed in Egypt, the President, Muhammadu Buhari  directed the Minister of Environment, Mohammed Abdullahi, to represent him in Nigeria’s delegation.

According to the directive, Mohammed would lead other ministers and heads of agencies to the United Nations Framework Conference on Climate Change holding at Sharm El Sheikh, Egypt.

Abdullahi is expected to deliver Nigeria’s national statement at Cop27 plenary, attend bilaterals and side meetings on Nigeria’s energy transition plan, among other engagements.

“As Chairman of Council of Ministers of the Pan African Great Green Wall, he is expected to host a high level meeting of member states on GGW, alongside the United Nations Convention to Combat Desertification and the Pan African Great Green Wall,” the Federal Ministry of Environment statement stated.

Net-zero target

However, Nigeria has mentioned that it would require $1.9 trillion or N834 trillion to attain net zero by 2060.

This is as part of its support to the global fight against climate change and meeting the country’s Energy Transition Plan.

Chart showing Production-based carbon dioxide (CO2) emissions in Africa in 2020, by country.

The document also said the country needs $410 billion above projected usual spending, which translates to about $10 billion or N4 trillion annually over the coming decades.

To kickstart the implementation of the plan, Nigeria would raise an initial $10 billion support package ahead of the COP27 holding in Egypt. 

Also, $23 billion investment opportunity had also been identified based on current in-country programmes and projects that were directly related to just the energy transition. According to the document, there would be incremental investments from 2021 through 2060 to attain the plan.

Breaking down the spending; $135 billion will be spent in the infrastructure sector, while $150 billion is to be spent on the power sector. Also, $12 billion will be expended on the oil and gas sector; $21 billion on industry; $79 billion on the cooking sector; and $12 billion on the transport sector.

Transition Plan

However, the country is pushing for funding to the tune of $400 billion to help implement Nigeria’s Energy Transition Plan.

Abdullahi said, “Part of what we will do is to galvanise the action plan for Africa to push for a positive climate funding action from the developed countries.k To Find My Son’s Lifeless Body- Father Of Murdered Lagos Schoolboy

“That is why the Nigeria Energy Transition Plan is aligned to ensure that we get the requisite funding for smooth transition to renewables, without which it will be very difficult to deploy infrastructure to support our mini-grid, deployment of solar and support bio-fuel.”

Kehinde Ogunyale

Reporting on the data-driven economy, and investigations.

Related post