Energy Transition: Nigeria Moves to Break Barriers Against Access to Affordable Energy

Energy Transition: Nigeria Moves to Break Barriers Against Access to Affordable Energy

Nigeria has initiated steps to break down obstacles hindering access to affordable energy for its citizens and the broader African continent. Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, disclosed this in his presentation at the Africa House, Davos, Switzerland, with the theme “Accelerating Africa’s Energy Transition and Leapfrogging from Scarcity to Abundance.”

He maintained that Nigeria, under President Bola Ahmed Tinubu’s visionary leadership, is redefining its approach to energy development through a balanced mix of resources.

According to Ekpo, “Our Decade of Gas initiative underscores the critical role natural gas plays as a transition fuel, driving industrialization, improving access to clean energy, and reducing emissions.”

He said the African Atlantic Gas Pipeline Project is another significant initiative, strengthening regional collaboration and providing sustainable energy solutions for global markets.

Ekpo emphasized that critical barriers, such as financing, have been addressed through the establishment of the Africa Energy Bank. He said this groundbreaking initiative provides innovative funding solutions, de-risking projects, and ensuring African energy projects receive necessary capital.

The Gas Minister stressed the importance of technology transfer and capacity building in enabling African nations to become co-creators of energy solutions.

“Africa is at a pivotal moment… our continent has an unprecedented opportunity to lead,” he said.

Ekpo therefore called for collaborative efforts from governments, international organizations, the private sector, and civil society to deepen their commitment to Africa’s energy transition.

He said this collective effort will drive innovation, equity, and resilience, ultimately transforming lives, creating jobs, and safeguarding the environment for future generations.

Louis Ibah
Spokesman for the Minister of State Petroleum Resources (Gas).
January 21, 2025.

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