News Formal

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

  • 📰 DailyPostNGR
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 59%

United States News News

United States United States Latest News,United States United States Headlines

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tinubu secures $3bn steel investment for Nigeria | The Guardian Nigeria NewsPresident Bola Ahmed Tinubu has successfully attracted a monumental 3 billion US dollars investment pledge from Indian investors to boost the steel industry in the country.
Source: GuardianNigeria - 🏆 1. / 94 Read more »