The World Bank and the US Export-Import Bank (EximBank) have committed over $3 billion in investment to Nigeria’s energy transition plan.
The international organisations made the commitment on today Wednesday, 24th August, 2022 at the official global launching of the Energy Transition Plan by the vice president, Professor Yemi Osinbajo.
At COP26 in Glasgow last year, President Muhammadu Buhari announced Nigeria’s ambition to achieve net-zero by 2060 drawing on insights from the country’s Energy Transition Plan which was developed through the Energy Transition Commission to chart out Nigeria’s unique energy transition pathway.
The plan supports the country’s objectives of achieving universal access to energy by 2030 and a carbon-neutral energy system by 2060, while also providing enough energy to power the industry and other productive uses.
The plan is supported by Sustainable Energy for All and the COP26 Energy Transition Council (ETC).
Source: TheCable
