The Nigerian government has identified $23 billion in potential investments for renewable energy and sustainability projects that support the country’s Energy Transition Plan, Minister of Power Adebayo Adelabu announced this week.
These green energy investments will not only provide cleaner electric power for economic growth but are projected to create up to 340,000 new jobs by 2030 as Nigeria transitions to renewable sources. The Energy Transition Plan aims to generate up to 840,000 new jobs by 2060, primarily in the power, cooking, and transportation sectors.
Gas will play a key role as a transitional fuel on Nigeria’s path to net-zero emissions, especially for power generation and cooking needs. But fully harnessing Nigeria’s gas resources requires policies that promote transparency and commercialisation, as NEITI Executive Secretary Ogbonnaya Orji pointed out. Unremitted gas royalties and unenforced flare penalties show missed opportunities.
Ambassador Annett Günther highlighted the commitment of both Germany and Nigeria to developing hydrogen production and use. Green hydrogen presents enormous potential to revolutionise the energy landscape, as GIZ Nigeria Country Director Markus Wagner noted, reducing carbon emissions while diversifying energy and spurring economic growth.
With a long history of cooperation in the energy sector, Nigeria and Germany can continue driving positive change through partnerships on green hydrogen and other renewable technologies essential for sustainable development and net zero emissions.