The Federal Government of Nigeria has reaffirmed its commitment to fostering an environment conducive to hydrocarbon investments, which is crucial for addressing energy poverty. Olu Verheijen, the Special Adviser to President Bola Ahmed Tinubu on Energy, made this statement during a session at CERAWeek by S&P Global, discussing pathways to a just energy transition. Verheijen emphasized that Africa is not a significant contributor to global emissions, with the continent contributing only 3-4% of global greenhouse gas emissions, compared to China and the United States, which together account for nearly 40%.
In her remarks, Verheijen highlighted Nigeria’s “Decade of Gas” initiative, which uses natural gas as a transition fuel to foster economic growth while reducing carbon emissions. She also pointed out the need for greater regional integration within Africa to attract capital and enhance market efficiency, emphasizing that pooling resources and collaborating across the continent will drive sustainable development.
Verheijen stressed that for Africa, improving data collection and analysis is crucial for informed decision-making and policy development. She added that even if Africa achieves exponential economic growth, it will remain a minor player in global emissions. She called on developed nations to focus on diversifying energy sources and investing in carbon removal and reduction technologies.
Through strategic investments, transparent policies, and regional collaboration, Nigeria and other African countries aim to bridge energy poverty, attract investments, and contribute to the global effort for a sustainable energy transition.
