Like other African countries, Nigeria is stepping up initiatives to fight global warming. The largest oil producer in Africa says it wants to hit net-zero by 2060. The announcement was made last November 2 by President Muhammadu Buhari (pictured) at the UN Climate Change Conference in Glasgow, Scotland.
Achieving this objective will require an investment of about $400 billion, Buhari said. And Bloomberg reported, citing official sources, that $310 billion of the amount will be spent on building electricity generation, transmission, and distribution infrastructure and $75 billion on buildings. Buhari also urged partners to support his country’s ambition through financial assistance, technology transfer, and capacity building.
According to a USAID report, Nigeria accounted for only 1.0% of global greenhouse gas (GHG) emissions in 2014. The country will have to move toward greener resources, to reach its net-zero ambition by 2060.
In April, Nigeria revealed plans to convert one million vehicles to natural gas by 2025 to limit the use of non-eco-friendly fuels in transport and to reduce greenhouse gas emissions. However, President Buhari, during his speech at COP 26, called for the lifting of the embargo on investment in African fossil fuels. He stressed that his country is committed to eliminating illegal gas flaring by 2030.
The Nigerian president says he hopes developed countries will live up to the commitments they made at COP 21 to developing and emerging countries. These commitments include climate-friendly investments, especially in clean energy, green infrastructure, and technological innovation.
Dorcas Loba (intern)
From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...
Nigeria’s fintech landscape has undergone a seismic shift in recent years, driven largely by persist...
• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...
Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...
• Benin’s FeexPay and Côte d’Ivoire’s Cinetpay receive BCEAO payment service licenses• Both firms ex...
• Ousmane Sonko urges Senegalese abroad in Milan to back new diaspora bonds funding the PRES.• Bonds offer 3–10 year maturities with yields of 6.4%–6.95%,...
With the Central African Republic's next presidential election approaching and the country facing a fragile economic climate, the opposition is working to...
• Qatar’s Baladna to build $3.5B dairy complex in Algeria• 117,000-hectare farm to house 270,000 cows, cut imports• Project targets late 2027...
With about 600 million people lacking electricity access in Africa, nearly half the continent's population, power outages are a frequent part of daily...
The Umhlanga Festival, also known as the “Reed Dance,” is one of the most iconic cultural events in the Kingdom of Eswatini in Southern Africa. Every...
• Nigeria to turn Abuja stadium into culture, sports innovation hub• Project includes museum, arenas, markets, and youth creative center• Gov’t...