• About
  • Advertise
  • Contact
Thursday, September 11, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Foreign

Buhari Restates Nigeria’s Target Of 30gigawatts Of Electricity By 2030 At US Summit

....calls on US for financial and technical assistance

Vital News by Vital News
December 14, 2022
in Foreign, Power
0
Buhari Departs Abuja For US-Africa Leaders Summit In Washington
Share on FacebookShare on Twitter

President Muhammadu Buhari in Washington, USA, has restated the determination of the Nigerian government towards achieving the vision of 30 Gigawatts of energy by the year 2030.

The President said this on Tuesday during the discussion panel on Just Energy Transition at the ongoing US-Africa Leaders Summit in the American city. He used the opportunity to outline the comprehensive Energy Transition Plan unfolded by his administration in response to the issues associated with the climate change.

Garba Shehu, Senior Special Assistant to the President on Media and Publicity said in a statement in Abuja on Wednesday

The statement quoted President Buhari as saying that “part of the National Renewable Energy and Energy Efficiency Policy, we set the vision 30:30:30 which aims at achieving 30GW of electricity by 2030 with renewable energy contributing 30% of the energy mix. Last year, Nigeria became the first African country to develop a detailed Energy Transition Plan to tackle both energy poverty and climate change, and deliver SDG7 by 2030 and net-zero by 2060.

“Our Federal Executive Council approved the plan earlier this year and adopted it as a national policy. As part of the plan, we intend to completely eliminate the use of petrol/diesel generators by 2060 and therefore need to deploy renewables, particularly solar, at an unprecedented scale. For instance, the Energy Transition Plan requires that 5.3 GW of Solar be deployed annually until 2060 to achieve our targets.”

RelatedStories

NISO Blames Collapse Of National Grid On Tripping Of A Generation Company

SCO And The Growing Influence Of The Global South, An analysis – Lawal Sale

Israeli Airstrike On Gaza Hospital Kills Four Journalists, 11 Others

Japan Designates Kisarazu City As Hometown For Nigerians

The President stressed that the Nigerian government  has embarked on several reforms, one of the best in Africa, on mini-grid regulations as well as the integration of renewable energy into the national grid. He disclosed some of the reforms which have positively impacted the energy sector in Nigeria.

“Our aggressive power sector reforms have resulted in cost-reflective tariffs in the power sector for the first time since privatization. Under the Nigeria Electrification Project, over four million people have been impacted through solar mini-grids and solar stand-alone systems.

“With respect to hydro, the Zungeru hydropower project is nearing completion and will add 700MW in capacity to the grid.” 

While also stressing the resources that the administration has committed towards the realisation of the vision, the Nigerian leader however, called for “considerable financial and technical support” to achieve the goals.  

“For instance, our analysis shows that delivering the Energy Transition Plan requires $1.9 trillion spending up to 2060, including $410 billion above business-as-usual spending.

“This additional financing requirement translates to a $10 billion investment needed per annum. Between 2000 and 2020, just $3 billion per year was invested in renewable energy in the whole of Africa.

“Consequently, the $10 billion per year target of our Energy Transition Plan represents a significant scaling of current investment flows and we need support from the U.S. to mobilize the needed resources.

” It is important to note that for African countries, the cost of finance and perceived investment risk remains significantly higher than for developed economies despite vast improvements in stability and governance.

“For our clean energy market to scale, Nigeria and more broadly Africa needs concessional, low-interest capital-led investments.

“Furthermore, we believe that the Nigeria Energy Transition Plan and the net-zero compliant investment pipeline we have developed is prime for a just energy transition partnership like the one offered to South Africa and, more recently, Indonesia. Nigeria too seeks support from the US to be included in the G7’s Climate Partnerships List for the co-creation of a Just Energy Transition Partnership.”

President Buhari also called on US businessmen and the global community to tap “into the innovation and potential returns in our enormous market which is yet to be fully optimized.”
(vitalnewsngr.com)

Tags: BuharigigawattssummitUS
Previous Post

PSC Promotes 745 Police Officers, Demotes 6

Next Post

Senate Calls For Review Of New Cashless Policy

Vital News

Vital News

RelatedStories

Work Ongoing To Re-Erect Three Towers Along Kainji-Birnin Kebbi Transmission Line – TCN
Power

NISO Blames Collapse Of National Grid On Tripping Of A Generation Company

September 10, 2025
SCO And The Growing Influence Of The Global South, An analysis  –  Lawal Sale
Foreign

SCO And The Growing Influence Of The Global South, An analysis – Lawal Sale

August 26, 2025
The Folly Of A War With Iran by Chris Hedges
Foreign

Israeli Airstrike On Gaza Hospital Kills Four Journalists, 11 Others

August 25, 2025
Japan Designates Kisarazu City As Hometown For Nigerians
Foreign

Japan Designates Kisarazu City As Hometown For Nigerians

August 22, 2025
Work Ongoing To Re-Erect Three Towers Along Kainji-Birnin Kebbi Transmission Line – TCN
Power

Abia Secures $750mln World Bank Support For Renewable Energy

August 21, 2025
Next Post
Cashless Policy Has Come To Stay – CBN Governor Emefiele

Senate Calls For Review Of New Cashless Policy

Red Cross Flags Off Distribution Of N50 mln Relief Items To Flood Victims In Kogi

Red Cross Flags Off Distribution Of N50 mln Relief Items To Flood Victims In Kogi

Kogi Kicks As EFCC Arraigns Governor Bello’s Nephew, Others For N10bln Fraud

Kogi Kicks As EFCC Arraigns Governor Bello’s Nephew, Others For N10bln Fraud

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Nigeria Gets 40 New Commissioners Of Police

3 years ago

AfDB plans $500million loan facility for women-led businesses

3 years ago

Okupe, ex- Obasanjo’s aide reveals 15 facts about Second Niger Bridge

4 years ago

Zulum visits Chibok over killing of four, abduction of 24 residents

4 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu
No Result
View All Result

Highlights

Dangote Cement Pays Over N3.3trillion Dividends To Shareholders In 15 years

Alleged $7.2billion Fraud : Ex-NNPC CEO, Mele Kyari In EFCC Custody

A CALL TO SAVE KOGI STATE’S EDUCATIONAL SYSTEM by Friday Ogungbemi

NISO Blames Collapse Of National Grid On Tripping Of A Generation Company

Photo News : President Bola Tinubu Visits President Emmanuel Macron In France

Kogi Police Command Confirms killing Of Three Officers By Gunmen

Trending

2027 : Former APC National Chairman, John Oyegun, Aregbesola, Atiku, David Mark, Obi, Amaechi Team Up Against Tinubu
Politics

INEC Recognises Mark, Aregbesola As New National Officers Of ADC

by Vital News
September 10, 2025
0

The Independent National Electoral Commission (INEC) has formally recognized former Senate President David Mark as the new...

2025 IYD : LASG Promises To Continue To Initiate, Implement Youth – oriented Policies, Programmes

2025 IYD : LASG Promises To Continue To Initiate, Implement Youth – oriented Policies, Programmes

September 10, 2025
Police Begin Manhunt For Killers Of Three Officers, Two Vigilante In Kogi

Police Begin Manhunt For Killers Of Three Officers, Two Vigilante In Kogi

September 10, 2025
Dangote Cement Pays Over N3.3trillion Dividends To Shareholders In 15 years

Dangote Cement Pays Over N3.3trillion Dividends To Shareholders In 15 years

September 10, 2025
Alleged $7.2billion Fraud :  Ex-NNPC CEO, Mele Kyari In EFCC Custody

Alleged $7.2billion Fraud : Ex-NNPC CEO, Mele Kyari In EFCC Custody

September 10, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • INEC Recognises Mark, Aregbesola As New National Officers Of ADC September 10, 2025
  • 2025 IYD : LASG Promises To Continue To Initiate, Implement Youth – oriented Policies, Programmes September 10, 2025
  • Police Begin Manhunt For Killers Of Three Officers, Two Vigilante In Kogi September 10, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In