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*VP holds session with envoys of G-7 nations, Egypt, UN, World Bank, IMF country reps on Net-zero emissions plan
A Pan-African position articulated and promoted by leaders of the continent on the global Net-zero emissions target by 2050-2060 will further advance the quest for a just energy transition, according to Vice President Yemi Osinbajo, SAN.
Prof. Osinbajo stated this today at a meeting with diplomats from the G-7 countries comprising the United States, United Kingdom, Germany, Canada, France, Japan, and also the Republic of Egypt. Other global agencies like the United Nations, World Bank and the International Monetary Fund (IMF), were also in attendance at the meeting held at the Presidential Villa.
The Vice President who spoke after a presentation of Nigeria’s Energy Transition Plan, and brief comments by the diplomats and country representatives, said the plan is geared towards the actualization of a Pan African initiative.
According to him, “developing a common African narrative is absolutely important because it sets the stage in providing a clear vision and a clear objective to have a Pan African initiative.
“The broad-based coalition will ensure that the private sector and government work together in driving the processes and the nuances are adequately taken care of. It is important that we factor in all the nuances across the continent.”
Speaking specifically on the progress of Nigeria’s plan, the VP said “there is a great deal of enthusiasm and support for the country’s energy transition plan.”
He said the Federal Government has adopted intentional approaches including the setting up of an Energy Transition Office, among others to coordinate the processes.
Speaking earlier, the Minister of Environment, Alh. Mohammad Mahmood Abubakar, emphasized the need to have a Pan-African transition plan that will ensure a shared vision on the continent’s position at the forthcoming Climate Change conference.
He assured development partners and members of the G-7 countries of Nigeria’s firm commitments to the net-zero emission targets.
In the same vein, Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed, said while authorities make effort to ensure stability in fiscal and monetary policies, stakeholders especially in Africa must “define our common interest and leverage existing opportunities to build new partnerships.”
In his remarks, the UN Resident and Humanitarian Coordinator in Nigeria, Mr Matthias Schmale, commended the leadership of the Vice President in developing and implementing an energy transition plan, pledging the UN’s support towards its actualization.
In the same vein, the US Ambassador to Nigeria, Mary Beth Leonard said the United States would support initiatives aimed at creating conducive environment for investments in the sector.
She acknowledged the emergence of a movement championing common initiative for Africa’s energy transition, describing Nigeria’s plan as a manifestation of country’s position on energy transition.
The UK High Commissioner to Nigeria, Catriona Laing, said in addition to what her country planned to do in the area of off-grid solutions, more UK investors have indicated interest in the country’s renewable energy sector.
Also, the World Bank Country Director in Nigeria, Mr Shubaham Chaudhuri commended ongoing efforts to reform Nigeria’s energy sector, and called for more investments in off-grid solutions while pledging the support of the bank for initiatives adopted by government.
In separate remarks, the representatives of the European Union, Republics of France, Germany, Japan, Canada, and Egypt, the IMF and the United Nations Development Programme (UNDP), all commended Nigeria’s leadership towards the actualization of an African initiative for energy transition.
