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Nigeria's energy transition plan requires $10bn yearly investment

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President Bola Tinubu says Nigeria's energy transition plan will require an annual investment of $10 billion. Tinubu disclosed this in his remarks at the

President Bola Tinubu says Nigeria’s energy transition plan will require an annual investment of $10 billion.Dr Ishiak Salako, the Minister of State for Environment, delivered Tinubu’s remarks at the ACS two-day event, which ended on Wednesday.

He explained that Nigeria’s Energy Transition Plan necessitates a total investment of $1.9 trillion up to 2060. “Nigeria’s Energy Transition Plan requires $1.9 trillion in spending up to 2060, including $410 billion above business-as-usual spending. “This additional financing requirement translates to about $10 billion per annum, but average international financing flows to Nigeria for clean energy have been about $655 million per year over the past decade,” he said.

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