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We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima - Politics - Nairaland

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We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by BeeBeeOoh(m): 8:24pm On May 24
Vice President Kashim Shettima has said the country would need about $10 billion yearly to achieve energy transition by 2060, which amounts to $360 billion.

Shettima stated this yesterday at an energy transition symposium organized by the Development Agenda Magazine, in Abuja.

He said before then, the country must maximise petroleum resources in the short term to provide the base-load energy that would turbocharge the economy.

Represented by the Special Adviser to the President on Power and Infrastructure, Sadiq Wanka, he said: “But full implementation of the Nigeria Energy Transition would not be easy.

“It requires concerted effort locally and international collaboration to source financing and to prepare the Nigerian workforce for a Net-Zero economy and to have a truly just energy transition.

“If we take the issue of financing alone , funding the energy transition requires investments of over $10 billion per year up to 2060.

“With 45% of Nigerians lacking access to electricity, and GDP per capita that is half that in Egypt and a third of that in South Africa, the urgency of, improving the economic condition of Nigerians is clear, But there are critical environmental/considerations which if not adequately managed would actually hamper our ability to change the lives of millions of our people for the better.

“Majority of this money would necessarily come from the private sector including through initiatives to access high -integrity carbon markets.

“But we are up to the challenge. The administration of President Ahmed Tinubu is willing to take the difficult decisions and the rich resource base and depth of human capital in our dear country will ensure our success.”

The Vice President also, noted that the two-pronged strategy to pursue renewables alongside oil and gas investments has yielded notable results that support the overall energy transition, like the “Climate Change Act signed in 2021 seeks to mainstream climate action into national plans and programmes.

“A renewed push towards hydroelectric power seeks to tap into over 14,000MW of near- term hydropower potential.

“The 700MW Zungeru Hydropower plant just came online in 2024. The national regulator has also mandated electricity distribution licensees to procure a certain percentage of their power from renewables.


“The Electricity Act 2023 which Mr. President signed, strongly supports the transition to a more renewable energy mix.”

Also, Governor Uba Sani of Kaduna State, said his state has adopted what he called “unique approaches of placing people in the centre of its development plan.”

Represented by the Managing Director of Kaduna Power Supply Company (KAPSCO), Idris Aminu Idris, Uba said: “The Kaduna Solar for Health programme began with the goal of improving access to healthcare by delivering sustainable, uninterrupted power supply to Primary Healthcare Centers (PHC) and Maternity Health Clinics across all Local Government Areas (LGA) in Kaduna State.”

According to him, “the scope of the project expanded to include rural isolated General Hospitals across 255 wards in Kaduna State.

“The objectives of the Kaduna Solar for Health program are to increase access to healthcare; to ensure 1 hospital in every ward and LGA has access to reliable power 24hrs/day; to eradicate petrol and diesel generators which cause noise and pollute the environment with toxic waste such as CO, that can lead to serious Environmental and Health issues.”

Editor in Chief of Development Agenda Magazine, Paddy Ezeala, said the event was organized for chart a way on how to achieve a seamless energy transition.

Ezeala said: “Speakers at today’s event are speaking on how the Energy Transition movement is likely to affect Nigerians, especially those at the grassroots and more specifically those impacted by the extractive industry activities.

“These include those presently impacted by fossil fuels extraction or those affected by extraction of minerals powering so called clean energy, such as lithium, cobalt etc.”

https://sunnewsonline.com/we-need-360bn-to-achieve-energy-transition-by-2060-shettima/

Mynd44 Nlfpmod

1 Like

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by Racoon(m): 8:40pm On May 24
So to provide 24 hours electricity is still rocket science to APC despite despite the GENCOs and DISCOs corruption? Meanwhile, same you was gleefully applauding the subsidization of hajj with #90B by your government abi? Why was such staggering amount of fund not invested in this regard?

46 Likes 4 Shares

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by Racoon(m): 8:42pm On May 24
“With 45% of Nigerians lacking access to electricity, and GDP per capita that is half that in Egypt and a third of that in South Africa, the urgency of, improving the economic condition of Nigerians is clear........"

1 Like

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by givedemwotowoto: 8:48pm On May 24
Time is fast running out on Nigeria but many people don’t know. They’re still on nairaland fighting tribal wars

In just a few years from now, many will watch their purchasing power drop at the rate at which Tinubu devalued Nigeria’s currency

24 Likes 5 Shares

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by ggood: 8:58pm On May 24
Lies from the pit of hell

13 Likes 2 Shares

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by GreenxGreen: 9:15pm On May 24
This eeedddiiioottt stupidity is becoming serious by the day 😁😁😁😁

23 Likes 4 Shares

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by GreenxGreen: 9:16pm On May 24
givedemwotowoto:
Time is fast running out on Nigeria but many people don’t know. They’re still on nairaland fighting tribal wars

In just a few years from now, many will watch their purchasing power drop at the rate at which Tinubu devalued Nigeria’s currency
Don't worry ! Nigeria would have disintegrate by that time. Sooner than you may ever imagine 😁😁😁

6 Likes 1 Share

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by Fortruth: 9:19pm On May 24
All he should say is England should return their stolen money back to the indigenous people in Africa…. Including Barclays that made their mark dealing niggers in slave trade…

Too bad stupid blacks are here wearing Arsenal jersey LOL

8 Likes 1 Share

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by GreenxGreen: 9:22pm On May 24
Racoon:
So to provide 24 hours electricity is still rocket science to APC despite despite the GENCOs and DISCOs corruption? Meanwhile, same you was gleefully applauding the subsidization of hajj with #90B by your government abi? Why was such staggering amount of fund not invested in this regard?
The man is simple senseless.
APC will be the reason for Nigeria's disintegration not Biafra or Oduduwa agitation 😡😡😡

14 Likes 3 Shares

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by Stanleymaster1: 9:36pm On May 24
They wan purshow us commot for Nigeria.

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Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by Bekermann(m): 9:41pm On May 24
“If we take the issue of financing alone , funding the energy transition requires investments of over $10 billion per year up to 2060.”

VP is just talking because he feeling bored. Nothing else.

Does he know the know the current Electricity demand of Nigeria?

Does he know the percentage increase using a 5-year window for example over the next 60 years like he said?

Have they put in place where baseline generation would be and its source(s)?

I’ve never seen a dumber administration that the current since our return to democracy.

14 Likes 1 Share

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by magoo10(m): 9:48pm On May 24
Scammers

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Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by iluvdonjazzy: 9:50pm On May 24
The money you guys has embezzled is it not over 1trillion dollars.

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Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by EmeeNaka: 9:51pm On May 24
APC has destroyed Nigeria. Now they pretend to be looking for solution. These APC leaders are beasts and should be booted out. They do not have a future in a prosperous Nigeria.

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Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by AbuTwins: 6:30am On May 25
grin
Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by Fatbam005: 6:30am On May 25
Another nigga dead. This one is suffering from acute dementia..

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Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by EmeldaSmiths: 6:30am On May 25
Very wicked man. Who told you you will still be alive by 2060?

9 Likes

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by skj1377(m): 6:30am On May 25
How did you come about the figures

4 Likes

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by HeadNigga: 6:31am On May 25
Make government hands off electricity and allow private investors handle this electricity thing. 2060? so I will not enjoy 24 hours light as a youth

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Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by Kwaramustgoodag: 6:31am On May 25
OK. Borrow it as usual

3 Likes

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by highchief1: 6:31am On May 25

1 Like

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by Flame333: 6:32am On May 25
Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by Emu4life(m): 6:33am On May 25
What kinda shameless statement is this

2 Likes

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by bewla(m): 6:34am On May 25
Ole
Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by Akalia(m): 6:34am On May 25
I hate this aboki with passion. Very ugly wicked liar.

3 Likes

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by frankblinkz(m): 6:35am On May 25
Will he be Alive by 2060

1 Like

Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by C2Ok: 6:37am On May 25
As long as they are powerful entities at the top benefiting from this electricity situation, Nigeria will never be able to achieve or maintain stable electricity, Nigerian aren’t ready for stable electricity, docile set of people who won’t hesitate to purchase generator sets and criminally priced petrol with the little money they have instead of questioning and taking hold of their power sector.

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Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by greenermodels: 6:38am On May 25
What concerns Nigeria with energy transition? Why does our leaders think any buzzword is an avenue to steal money? Does they realise that energy transition means that Western countries would no longer depend so much on our oil for their energy needs thereby forcing down the price of oil and our national income due to lesser demand? Nigeria should be investing in the opposite direction which is in thermal power stations that would generate affordable electricity for the country using our rich deposits of coal, oil and gas. We should also have a national gas network master plan to deliver cooking gas to homes and independent power plants. I'm honestly convinced that Nigeria can never be better giving that national leadership have been seized by corrupt, ignorant and election rigging vagabonds in power.

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Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by NeckingNgulping(m): 6:38am On May 25
Divide this country now.
Re: We Need $360 Billion To Achieve Energy Transition By 2060 — VP Shettima by reiddecuti: 6:39am On May 25
Another money for the crooks to loot.


All they care is looking for money they'll loot and justify it with things unimaginable.

2 Likes

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