On Wednesday, Vice President Yemi Osinbajo will fly from Abuja to the United States in order to look for alliances and support for Nigeria’s recently unveiled Energy Transition Plan on a worldwide scale.
This was said in a statement released on Wednesday and signed by Laolu Akande, his Senior Special Assistant on Media and Publicity.
With meetings beginning on September 1, 2022, Osinbajo is in charge of Nigeria’s Energy Transition Implementation Working Group on the US mission. The group’s goal is to promote the plan and win support from the US government, the corporate sector, and other development partners on a worldwide scale.
Osinbajo will meet with US Vice President Kamala Harris, US Secretary of Energy Jennifer Granholm, US Secretary of Treasury Janet Yellen, and President of the World Bank Group David Malpass while abroad, according to a statement titled “Osinbajo travels to the United States, Nigeria’s energy transition plan on the Agenda.”
Nigeria’s Energy Transition Plan was formally unveiled on August 24, 2022, at a global virtual event, according to GOGAN Media.
Power, cooking, oil and gas, transportation, and industry are the five crucial sectors that need to commit to the domestic strategy that was created to achieve 2060 net-zero emissions. By 2060, Nigeria will need $410 billion to implement its Transition Plan.
Osinbajo demanded a $10 billion initial aid package for Africa at the event in order for it to reach its renewable energy investment goal each year.
He remarked that in order to seize control of the continent’s transitional pathways, deliberate and urgent coordination is needed due to Africa’s widening energy gaps.
In order to support the implementation of Nigeria’s Energy Transition Plan, the World Bank and the renewable energy group Sun Africa each contributed a sum of $1.5 billion, making a total initial investment of $3 billion.
While traveling, Osinbajo will also give a speech at the Center for Global Development in Washington, DC, about Nigeria’s Energy Transition Plan.
Ministers of Finance, Budget, and National Planning, Dr. Zainab Ahmed; Works and Housing, Babatunde Fashola; Power, Abubakar Aliyu; Environment, Mohammed Abdullahi; Minister of State for Petroleum Resources, Timipre Sylva; Special Representative of the UN Secretary-General/CEO for Sustainable Energy for All, Ms. Damilola Ogunbiyi; and Nigeria’s Ambassador to the United States are all part of the Vice President’s delegation
“The Vice President will return to Abuja early next week,” the statement said.