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Net-Zero emissions: Defunding gas projects unhelpful to developing countries — Osinbajo



Net-Zero emissions: Defunding gas projects unhelpful to developing countries — Osinbajo

By Chijioke Okoronkwo

Vice President Yemi Osinbajo said the plan to finance gas projects as they approach the global net zero emissions target would be of no use to developing countries such as Nigeria.

Osinbajo spokesman Laolu Akande in a statement Saturday in Abuja said the vice president had made presentations at various meetings in London.

The Vice President attended a high-level United Nations event on the energy transition plan in Africa with a special focus on Nigeria ahead of the United Nations Climate Change Conference (COP26) summit.

Osinbajo warned that “limiting the development of gas projects posed major challenges.

The vice president said that in its commitment to the Paris Agreement on climate change, the federal government strives to use a large part of clean energy sources.

Osinbajo’s first meeting was a closed-door session with the President-designate of COP26, Mr. Alok Sharma, a UK minister-level minister and chair of the UK government’s COP26 Energy Transition Council (ETC) in Whitehall.

Discussions with Sharma focused on issues regarding the global 2050 net zero emissions target and the need for the international community to align with the key elements of a just and just transition for all.

The Vice President also had interaction with the Imperial College academic community, followed by Global Energy Alliance meetings and presentations on Nigeria’s Energy Transition Plan and Nigeria’s Integrated Energy Plan.

Osinbajo told Imperial College that Africa as a continent is home to the world’s youngest and fastest growing population.

“In order to create jobs and enable climate-smart industrialization, the scale and quality of electricity services must increase significantly. “

Scaling up in the Nigerian context hinges on clean energy, he said, reflecting the federal government’s commitment to the Paris Agreement on climate change.

“It means building sustainability into our economic planning, so our economic sustainability plan includes a plan to provide five million homes with cleaner energy through its decentralized solar power program.

“This means that around 25 million Nigerians would have access to solar energy.

“The first phase of this plan is already underway, and we believe that this type of program will very quickly accelerate our progress towards net zero emissions. “

Osinbajo, however, said measures to finance gas projects would not help “the whole company, which needed gas, especially to put it on the grid.”

“Limiting the development of gas projects poses major challenges for African countries, while insignificantly reducing global emissions.

“The demand for energy in Nigeria and across Africa is set to increase, as it should indeed, to provide the industrialization, jobs and economic advancement that people deserve. “

Osinbajo said Nigeria has already committed to having 30% of its electricity supply from renewables by 2030.

He said natural gas was used for industry, fertilizer making and cooking, which were more difficult to transition than power generation.

The Vice President said Nigeria is committed to making all of its nationally determined contributions under the Paris Agreement and has updated its commitments in our new energy transition plan.

“So for the Business as Usual (BAU) baseline projections, the estimated BAU 2030 emissions are now 453 metric tonnes of carbon dioxide equivalent (MTCO2e), an increase of 31% from a base of 2018 reference of 347 MTCO2e.

“We are engaged in the process and firmly believe that the process must be solid, fair, just and supported not only for Nigeria, but for most African countries and for many developing countries who have the same concerns as us. “

According to him, the ultimate goal of the global energy transition should be to achieve reliable net zero energy systems to power prosperous and inclusive economies.

“Efforts are already underway in my country and in the countries of the continent, to include a large part of clean energy sources in order to fuel this growth.

“Renewable energies are the fastest growing energy segment today and will certainly be a key economic driver in the future. “

The vice president revealed that Nigeria was the first African country to have developed an energy transition plan that sought to demonstrate its commitment to global net-zero emissions.

He said such a plan must be fair, inclusive and just with a planetary and humane approach to the transition.

“In practice, this means transition plans that take into account the different realities of different economies and adapt to various pathways towards net zero by 2050,” he said.

The Minister of State for the Environment, Mrs. Sharon Ikeazor, Special Advisor to the President for Economic Affairs, Amb. Adeyemi Dipeolu and Nigeria’s High Commissioner to the UK, Amb. Sarafa Ishola accompanied the Vice-President to the meetings.

The UN Secretary General’s Special Representative on Sustainable Energy for All (SE forAll), Ms. Damilola Ogunbiyi, among others, was also present at the meetings. (www.)

Source: NAN

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