The Federal Government says Nigeria will require $1.9trn or N834trn to attain net zero by 2060 as part of its support to the global fight against climate change and meeting the country’s Energy Transition Plan.
The Energy Transition Plan says Nigeria would require $1.9trn to get to net zero by 2060, including $410bn above projected usual spending, which translates to about $10bn or N4trn annually over the coming decades.
The Federal Government says Nigeria would raise an initial $10bn support package ahead of the COP27 holding in Egypt, adding that a $23bn investment opportunity had also been identified based on current in-country programs and projected that were directly related to just the energy transition.