The UK Nigeria Infrastructure Advisory Facility, a UK Aid-funded demand-led technical assistance programme that helps the Nigerian government deliver socially inclusive, climate-smart infrastructure, has said that it remains critical to the UK-Nigeria collaboration in the Energy Transition Council, not only in preparing for COP26 but also for initiatives beyond.
COP26, the next UN climate change conference, is the 26th session of the Conference of the Parties – a summit which will be attended by countries that signed the United Nations Framework Convention on Climate Change.
The Managing Director of UKNIAF, Prof Chidiebere Onyia, who spoke with the British Deputy High Commissioner, Ben Llewellyn-Jones, on energy, infrastructure financing, and roads discussed how the programme could support the Energy Transition Councils’ efforts to prepare Nigeria for COP26 and beyond.
The statement said that UKNIAF supports COP26 through its work with regulators and other MDAs in the energy sector by highlighting opportunities to mitigate the challenges of the energy transition.
It disclosed that coordination and capacity across key MDAs must be improved for policy objectives to be met. While lauding the work being done to encourage energy transition, they noted that challenges still persisted.
The statement highlighted the government’s goodwill and engagement, particularly that of the Vice President, Prof Yemi Osinbajo, and the Minister of State for Power, Goddy Agba.
Llewellyn-Jones said, “We live in a competitive world where investors are looking for a location that provides adequate return on investment. It is important, therefore, to make Nigeria as competitive as possible to attract those investments.
“There is a lot of goodwill, effort, and application; consequently, we must work with the Nigerian leadership while also highlighting this to potential investors. This is one of UKNIAF’s key component areas – infrastructure finance.”
Also commenting Onyia said, “The UKNIAF’s efforts to assist the regulator in developing evidence-based regulatory practices are critical in raising climate awareness and will go some way to aligning Nigerian government priorities with climate-smart principles.
“Looking at government priorities through the lens of climate sensitivity does not preclude seeing the broader issues that require attention such as bankability, efficiency, and access.
“Data is always critical for regulators and investors, and understanding the impact of policy and allowing data to inform predictable regulation is vital.”
Source: Punch
