ABUJA, Nigeria – Vice-President Yemi Osinbajo announced ambitious plans for Nigeria’s energy transition, with a goal to develop about 250 gigawatts of solar plants by 2060. This target forms part of the nation’s investment in green hydrogen as it makes strides towards a sustainable energy future.
Speaking at the unveiling of the book ‘Understanding Natural Gas: A Nigerian Perspective’ in Abuja on Friday, April 28, 2023, the vice-president stressed the importance of a comprehensive and dedicated energy transition plan.
This plan, he noted, incorporates a decade of gas proposals that will form the backbone of the nation’s energy infrastructure.
“Nigeria’s energy transition plan attempts to chart a pathway forward because we see solar and renewable energy as the bedrock of that plan,” Prof. Osinbajo declared. “The plan also outlines our decarbonisation strategies in the area of power, oil and gas, and transportation.”
Osinbajo also expressed concerns about potential job losses in the oil and gas sector as the nation shifts towards a green economy.
The move towards green energy, he emphasised, seeks to mitigate any potential long-term employment issues, given the oil and gas sector’s dominance in the nation’s economy for decades.
A major focus of Nigeria’s energy future, according to the him, is green hydrogen. With a global demand for this low-carbon energy source projected to increase by 700% by 2050, Nigeria is keen to tap into this burgeoning market.
The vice-president urged the Nigeria National Petroleum Company Limited (NNPC Ltd) to consider investments in green hydrogen for clean energy.
“I believe that investment in hydrogen is something we should take seriously. I am sure that NNPC Limited will take that into account as we plan for the future,” stated Osinbajo. “We must embrace the opportunity to harness our vast natural gas resources responsibly and judiciously and while simultaneously charting a path towards a cleaner and greener future.”
The vice-president’s comments come in the wake of a global push for renewable energy, driven by the Russian-Ukraine conflict that has caused gas prices to skyrocket. These events have forced nations to reassess their energy supply strategies and consider diversification as a means to ensure energy security.
Nigeria is clearly laying the groundwork for a sustainable and resilient energy future in response to these global shifts, with the sun and green hydrogen at its core.
