Connection

popular articles

Jupiter Power boosts ERCOT network with 400MWh of storage in Houston
Etermar Energia and Qair join forces to develop floating wind power in the Iberian Peninsula
Puerto Rico under pressure as 1.25 million households impacted by power outage
Renewable energy dominates Dutch electricity production in 2024
China Optimizes Petrochemical Production with 50 Million Tons Capacity

Nigeria: Soon to meet its decarbonization targets?

Nigeria aims to be carbon neutral by 2060 to address the crises of energy poverty and climate change. An investment of $410 billion is needed to achieve this goal. In this context, a private roundtable was held in Lagos to discuss the role of the private sector in the implementation of the Energy Transition Plan.

Please share:

On February 17, 2023, a private roundtable was held in Lagos to discuss Nigeria’s Energy Transition Plan (ETP). The objective of this roundtable was to discuss the role of the private sector in the implementation of the ETP and to develop an implementation framework to mobilize the necessary resources.

Nigerian government aims for carbon neutrality by 2060

The Energy Transition Plan was developed by the Nigerian government to address the crises of energy poverty and climate change, while providing energy for development, industrialization and economic growth. The goal is to achieve carbon neutrality by 2060, which requires an investment of $410 billion beyond the usual spending (between 2021 and 2060).

The cost of the energy transition is $410 billion

According to estimates, to achieve the goal of carbon neutrality by 2060, Nigeria needs to spend $150 billion on generation capacity, $135 billion on transmission and distribution infrastructure, $79 billion on cooking, $21 billion on industry, $12 billion on transportation, and $12 billion on decarbonizing oil and gas.

Private sector actors discuss their role in the Energy Transition Plan

Nigeria’s Energy Transition Office has identified an initial investment opportunity of $23 billion in a portfolio of projects, of which approximately $17 billion is estimated as the required private sector financing. This investment covers gas generation, transmission, distribution, metering, marketing, clean cooking, electric mobility and healthcare.

To help consolidate efforts towards the energy transition, a private roundtable focusing on the private sector was organized in Lagos. This meeting brought together stakeholders from the private sector and government to discuss the challenges and opportunities presented by the Energy Transition Plan. Representatives from the energy, finance, and legal sectors participated in the meeting and emphasized the importance of finding innovative financing models and recognized the key role of public-private partnerships in identifying value chains in different sectors.

Register free of charge for uninterrupted access.

Publicite

Latest news

Record-breaking 1.7 GW of US Community Solar Installed in 2024
Launch of the 100 MW Bramley Energy Storage Project in the UK
Hyvia, Renault’s hydrogen joint venture, placed in liquidation
Growth of the Lithium-Ion Battery Recycling Market: A Report from Deloitte and CAS Analyzes Key Trends
Orano envisages a long and uncertain restart for its uranium mine in Niger

Recently published in

The United States Suspends New Energy Efficiency Standards for Key Household Appliances

The U.S. Department of Energy has suspended seven energy efficiency standards targeting household products. This decision, impacting devices such as gas water heaters, has sparked debates over the economic and environmental consequences of the new rules.
Quebec supports six critical minerals projects with $7.8 million in funding
The province of Quebec is investing nearly $7.8 million to support six projects focused on critical and strategic minerals, thus advancing research to strengthen energy independence.
en_1140290958540-12
Quebec supports six critical minerals projects with $7.8 million in funding
The province of Quebec is investing nearly $7.8 million to support six projects focused on critical and strategic minerals, thus advancing research to strengthen energy independence.
en_1140290958540-12
Paris Advocates for a European Bank to Finance Industrial Decarbonization
France proposes the creation of a European Decarbonization and Electrification Bank to support industrial companies facing the costs of energy transition. The project, backed by Bercy, aims for long-term financing and will be discussed at upcoming European Council meetings.
en_1140290961540-9
Paris Advocates for a European Bank to Finance Industrial Decarbonization
France proposes the creation of a European Decarbonization and Electrification Bank to support industrial companies facing the costs of energy transition. The project, backed by Bercy, aims for long-term financing and will be discussed at upcoming European Council meetings.
en_1140290961540-9
French government confirms the maintenance of regulated electricity tariffs
Paris supports maintaining regulated electricity tariffs for households and very small businesses despite criticism from the Competition Authority. A report sent to Brussels highlights their role in stabilizing the market.
en_1140290956540-11
French government confirms the maintenance of regulated electricity tariffs
Paris supports maintaining regulated electricity tariffs for households and very small businesses despite criticism from the Competition Authority. A report sent to Brussels highlights their role in stabilizing the market.
en_1140290956540-11

France: Corruption and Illegal Agreements: The Electricity Market in Réunion Under Investigation

A network of anti-competitive agreements and corruption surrounding electrification in Réunion is bringing eight individuals and two companies to trial in May. Practices that distorted public tenders have already led to several convictions and financial penalties.
Europe Faces the Challenge of Energy Security: Three Pillars to Stabilize Its Power Grid, According to Eurelectric
Europe's energy transition is driving a structural transformation of the electricity grid, exposing the market to new vulnerabilities. A study by Compass Lexecon highlights three strategic levers to ensure supply stability amid geopolitical pressures and market volatility.
en_1140290985540-2
Europe Faces the Challenge of Energy Security: Three Pillars to Stabilize Its Power Grid, According to Eurelectric
Europe's energy transition is driving a structural transformation of the electricity grid, exposing the market to new vulnerabilities. A study by Compass Lexecon highlights three strategic levers to ensure supply stability amid geopolitical pressures and market volatility.
en_1140290985540-2
GCCIA and Qatar Fund for Development Invest $100 Million in Oman-Gulf Power Interconnection
The Gulf Cooperation Council Interconnection Authority (GCCIA) and the Qatar Fund for Development (QDF) have signed a $100 million financing agreement to connect the Gulf power grid with Oman. This strategic project, with a total cost exceeding $700 million, aims to enhance regional energy security and efficiency.
en_1140290992540
GCCIA and Qatar Fund for Development Invest $100 Million in Oman-Gulf Power Interconnection
The Gulf Cooperation Council Interconnection Authority (GCCIA) and the Qatar Fund for Development (QDF) have signed a $100 million financing agreement to connect the Gulf power grid with Oman. This strategic project, with a total cost exceeding $700 million, aims to enhance regional energy security and efficiency.
en_1140290992540
Liberia: A €107M Energy Project to Modernize the Electricity Network
Liberia Electricity Corporation (LEC), in partnership with the European Union and other financial institutions, has launched the Liberia Energy Efficiency and Access Project (LEEAP). With a budget of €107 million, this initiative aims to improve electricity access and energy efficiency in the country.
en_1140290982540
Liberia: A €107M Energy Project to Modernize the Electricity Network
Liberia Electricity Corporation (LEC), in partnership with the European Union and other financial institutions, has launched the Liberia Energy Efficiency and Access Project (LEEAP). With a budget of €107 million, this initiative aims to improve electricity access and energy efficiency in the country.
en_1140290982540

France Maintains Ban on Oil Exploration in French Guiana

Energy Minister Marc Ferracci reaffirmed his opposition to reopening the debate on oil exploration in France. Despite proposals from Overseas Minister Manuel Valls, the government is prioritizing a decarbonization strategy aligned with its international commitments.
Trump accelerates electricity production to dominate AI against China
Donald Trump has signed a decree creating a National Council for Energy Dominance, aimed at massively increasing electricity production. The goal is to strengthen the United States’ competitiveness in artificial intelligence (AI), a rapidly expanding and energy-intensive sector.
en_1140290983540
Trump accelerates electricity production to dominate AI against China
Donald Trump has signed a decree creating a National Council for Energy Dominance, aimed at massively increasing electricity production. The goal is to strengthen the United States’ competitiveness in artificial intelligence (AI), a rapidly expanding and energy-intensive sector.
en_1140290983540
*United Kingdom: Environmental Investigation into Thames Water Affects Its Profitability*
*Thames Water, a major water supplier in the UK, is facing an environmental investigation over growing concerns regarding its waste management and leaks. This situation raises significant financial stakes for the company.*
en_1140290954540-10
*United Kingdom: Environmental Investigation into Thames Water Affects Its Profitability*
*Thames Water, a major water supplier in the UK, is facing an environmental investigation over growing concerns regarding its waste management and leaks. This situation raises significant financial stakes for the company.*
en_1140290954540-10
Fourteen European Employers’ Federations Launch the Nuclear Employers’ Alliance to Strengthen the Industry
The Medef and thirteen other European employers' organizations launch an initiative to support the nuclear sector in the EU, in response to increasing competitiveness challenges exacerbated by international politics and global economic tensions.
en_1140290944540-10
Fourteen European Employers’ Federations Launch the Nuclear Employers’ Alliance to Strengthen the Industry
The Medef and thirteen other European employers' organizations launch an initiative to support the nuclear sector in the EU, in response to increasing competitiveness challenges exacerbated by international politics and global economic tensions.
en_1140290944540-10

France’s 100 Billion Investment in Power Grid: Limited Impact on Bills, According to RTE

France will invest €100 billion to modernize its power grid by 2035. However, the impact on consumer bills will be limited, according to the network manager RTE.
AFD and Watt For Change finance three energy projects in Africa
The Watt For Change Foundation and the French Development Agency are joining forces to support three initiatives aimed at improving access to renewable energy in Benin, Mauritania, and Madagascar. A €860,000 three-year partnership dedicated to assisting local associations.
en_1140290943540-8
AFD and Watt For Change finance three energy projects in Africa
The Watt For Change Foundation and the French Development Agency are joining forces to support three initiatives aimed at improving access to renewable energy in Benin, Mauritania, and Madagascar. A €860,000 three-year partnership dedicated to assisting local associations.
en_1140290943540-8
Tanzania: $12.9 Billion to Strengthen Its Power Grid by 2030
The Tanzanian government plans to invest $12.9 billion to add 2.4 GW to its power grid by 2030. This funding aims to expand electricity access to 75% of the population, with significant participation from the private sector.
en_1140290955540-8
Tanzania: $12.9 Billion to Strengthen Its Power Grid by 2030
The Tanzanian government plans to invest $12.9 billion to add 2.4 GW to its power grid by 2030. This funding aims to expand electricity access to 75% of the population, with significant participation from the private sector.
en_1140290955540-8
A U.S. federal judge orders the Trump administration to restore energy funds
A court demands that all funding linked to federal energy and climate laws, previously suspended, be immediately put back into circulation. This decision is based on a federal judgment challenging the legality of a freeze imposed by the American executive.
en_1140290960540-8
A U.S. federal judge orders the Trump administration to restore energy funds
A court demands that all funding linked to federal energy and climate laws, previously suspended, be immediately put back into circulation. This decision is based on a federal judgment challenging the legality of a freeze imposed by the American executive.
en_1140290960540-8

Macron opposes French nuclear energy to Trump’s oil drilling

At the World Summit on Artificial Intelligence in Paris, Emmanuel Macron highlighted nuclear energy as a power source for technological infrastructures, countering Donald Trump's plans to massively expand oil drilling in the United States.
Canada: A Colossal Challenge for Low-Carbon Electricity Production by 2050
Canada will need to build energy infrastructure on an unprecedented scale to meet the federal government's goal of eliminating greenhouse gas emissions from the electricity sector by 2050. A major technical and economic challenge marked by delays and significant costs.
en_1140290950540-8
Canada: A Colossal Challenge for Low-Carbon Electricity Production by 2050
Canada will need to build energy infrastructure on an unprecedented scale to meet the federal government's goal of eliminating greenhouse gas emissions from the electricity sector by 2050. A major technical and economic challenge marked by delays and significant costs.
en_1140290950540-8
Major Economies Delay the Publication of Their Climate Strategies
The majority of countries have not submitted their new climate roadmaps to the UN before the February 10 deadline. This delay raises questions about the priorities of major economies amid geopolitical shifts and economic uncertainty.
en_1140290963540-2
Major Economies Delay the Publication of Their Climate Strategies
The majority of countries have not submitted their new climate roadmaps to the UN before the February 10 deadline. This delay raises questions about the priorities of major economies amid geopolitical shifts and economic uncertainty.
en_1140290963540-2
Joseph Saddi Appointed as Minister of Energy in Lebanon: Challenges and Priorities
Joseph Saddi is the new Minister of Energy in Lebanon. He inherits a sector weakened by reliance on imports and failing infrastructure, while international partnerships struggle to restart oil and gas exploration.
en_1140290955540-6
Joseph Saddi Appointed as Minister of Energy in Lebanon: Challenges and Priorities
Joseph Saddi is the new Minister of Energy in Lebanon. He inherits a sector weakened by reliance on imports and failing infrastructure, while international partnerships struggle to restart oil and gas exploration.
en_1140290955540-6

Canada Invests $43.5 Million in Energy Policy for Critical Minerals

The Canadian government allocates $43.5 million to strengthen energy policy related to critical minerals in Quebec. This investment aims to support infrastructure and research, consolidating the country's strategic supply chains.
Electricity Consumption in France: A Moderate Increase in 2024
Electricity consumption in France increased by 0.7% in 2024, reaching 449.2 terawatt-hours, according to RTE. This slight rise marks a turning point after two years of decline but remains well below pre-2020 levels.
en_1140290952540-6
Electricity Consumption in France: A Moderate Increase in 2024
Electricity consumption in France increased by 0.7% in 2024, reaching 449.2 terawatt-hours, according to RTE. This slight rise marks a turning point after two years of decline but remains well below pre-2020 levels.
en_1140290952540-6
China: Beijing Accelerates the End of Renewable Energy Subsidies
The National Development and Reform Commission (NDRC) has announced a reduction in renewable energy subsidies in China. New projects will now have to sell their electricity at market prices, marking a transition to a more autonomous economic model.
en_1140290951540-6
China: Beijing Accelerates the End of Renewable Energy Subsidies
The National Development and Reform Commission (NDRC) has announced a reduction in renewable energy subsidies in China. New projects will now have to sell their electricity at market prices, marking a transition to a more autonomous economic model.
en_1140290951540-6
Baltic States Complete Integration into the European Power Grid
Lithuania, Estonia, and Latvia have finalized their synchronization with the European electricity grid, ending their dependence on Russian infrastructure. This project, funded with €1.6 billion, strengthens the region’s energy security.
en_1140290953540-6
Baltic States Complete Integration into the European Power Grid
Lithuania, Estonia, and Latvia have finalized their synchronization with the European electricity grid, ending their dependence on Russian infrastructure. This project, funded with €1.6 billion, strengthens the region’s energy security.
en_1140290953540-6

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS