On August 24, the Nigeria Energy Transition Plan was launched to showcase the country’s pathway to achieving net-zero emissions by 2060 and their leadership role in enabling a just and equitable climate future for Africa.
The drive for Nigeria’s energy transition is also in line with Sustainable Development Goal 7 (SDG7) which advocates for “affordable, reliable, sustainable and modern energy for all” by 2030.
The global launch aims to achieve the following objectives:
· Highlight Nigeria’s commitment and ambition in achieving carbon neutrality while also ending energy poverty, which will lift 100 million people out of poverty, drive economic growth, and bring modern energy services to the entire population;
· Create awareness to drive demand in other African countries by emphasizing the need for data-driven country-level energy transition plans in order to achieve a just, inclusive and equitable energy transition for all ahead of the ‘African COP’ hosted by Egypt;
· Mobilize new partners by showcasing existing support for data-driven energy transition planning from international partners, including Sustainable Energy for All, The World Bank, The Rockefeller Foundation, and the Global Energy Alliance for People and Planet;
· Mobilize investors and the private sector by showcasing concrete projects to deliver the transition goals while creating significant market opportunities
· Announce new opportunities for solar energy companies to obtain results-based finance from the Universal Energy Facility as part of a new financing window focused on supporting Stand-Alone Solar for Productive Use.