The head of the Energy Commission of Nigeria, Dr. Mustapha Abdullahi, announced that Nigeria needs an investment of $4 billion to achieve its goal of complete green energy sustainability by 2050.
During a press briefing in Abuja focused on clean, renewable energy and energy efficiency, Abdullahi emphasized the importance of attracting investors to the renewable energy sector.
He stated, “No country relies totally on its resources to build renewable energy plants; they make the environment conducive for investors to move in. As a commission, we are making policies that will attract investments in renewable energy generation.”
Abdullahi disclosed that the Federal Capital Development Authority has allocated 500 hectares of land to the commission, aiming to establish the Abuja Technology Village as a Tech city with multiple solar and renewable energy plants.
Highlighting the significance of adopting sustainable energy sources to combat climate change, Abdullahi emphasized the commission’s commitment to promoting energy efficiency measures and encouraging investments in renewable energy projects and technologies.
“We also encourage investments in renewable energy projects and technologies to diversify the energy mix and drive sustainable development,” he added.
As part of Nigeria’s commitment to reducing carbon emissions, the Nigerian National Petroleum Company Limited has pledged to cut methane emissions and achieve zero-flare in its operations by 2030.
The oil and gas decarbonization charter, released at the United Nations Climate Change Conference (COP28) in Dubai, calls for the oil and gas sector to reach net-zero emissions for their operations by 2050, including near-zero methane emissions and no routine flaring by 2030.
