According to the Federal Government, Nigeria needs $410 billion to complete its energy transition plan by 2060 in order to address issues and policy flexibility in the sector.
Timipre Sylva, Minister of State for Petroleum Resources, stated this at the 7th National Council on Hydrocarbons meeting in Minna.
According to the Nigerian News Agency, the meeting’s theme was “Roadmap and Strategic Option Towards Achieving Energy Transition in Nigeria.”
Sylva, who was represented by the Permanent Secretary of the Ministry, Gabriel Aduda, stated that Nigeria was dedicated to achieving carbon neutrality.
“This will end energy poverty as it will lift 100 million people out of poverty and drive economic growth forward.”
The minister of state stated that the country, through the Solid Minerals Development Fund, was on the point of revealing cutting-edge gold mining technologies.
He stated that the Federal Government had received 34 Memorandums of Understanding to that aim.
Sylva stated that seven memos had been merged and 11 had been stepped down, and that the memos had been handed to the council for discussion.
He praised Niger State for its abundant solid mineral riches and commercial hydrocarbon discoveries.
According to NAN, stakeholders from the oil and gas sector, hydro, energy, academics, and security, as well as traditional leaders, would attend the three-day summit.