• About
  • Advertise
  • Contact
Thursday, September 18, 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 Power

Nigeria Needs $10bln Yearly For Energy Transition Plan – Osinbajo

Vital News by Vital News
December 7, 2022
in Power
0
Vandals Destroy 6 NDPHC Towers, Kill One Vigilante
Share on FacebookShare on Twitter

By Luminous Jannamike

Abuja —THE Office of Vice President Yemi Osinbajo, yesterday, said there exists a financing gap of about $10billionn every year in Nigeria’s quest to achieve the targets in its Energy Transition Plan.

Dr. Muntaqa Umar-Sadiq, who co-leads the Nigeria Energy Transition Unit in the VP’s Office as the Principal Financial Specialist, disclosed this at the Stakeholders’ Dialogue organised by the Renewable Energy Association of Nigeria, REAN, in Abuja.

According to Umar-Sadiq, for Nigeria to reach a net-zero emissions energy system by 2060, the government needs to deploy an estimated 5.5 Gigawatts of solar capacity at an unprecedented scale.

He said: “Now achieving this net zero plan, we estimate it will cost about $410 billion in excess of business as usual spending. That translates into roughly $10 billion annually as a matter of financing gap.

RelatedStories

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

Abia Secures $750mln World Bank Support For Renewable Energy

FG Awards Contracts Worth N68.7bln For Power Projects In Universities, Teaching Hospitals

President Tinubu Meets Chairmen Of GENCOS, Pledges To Resolve N4 trillion Longstanding Debt Claims

“The capital expenditure differential largely is focused on infrastructure power, but we are quite excited about the fact that at a portfolio level, we have curated a pipeline of projects as a basis to raise the resources that we will need.”

go through this alone. And that’s why this conversation is quite important, because of the partnerships around private sources of capital and lower cost of debt as well as some of the off-balance sheet structures that will be required to ramp up the solar capacity that we’re speaking about.” (NAN/vitalnewsngr.com)

Tags: EnergyneedNigeriaPlan
Previous Post

African Diaspora Remittance Hits $95.6bln, Says AfDB

Next Post

Massive Crowd As Obi’s Campaign Train Storms Owerri

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

FG Awards Contracts Worth N68.7bln For Power Projects In Universities, Teaching Hospitals

July 31, 2025
President Tinubu Meets Chairmen Of GENCOS, Pledges To Resolve N4 trillion Longstanding Debt Claims
Power

President Tinubu Meets Chairmen Of GENCOS, Pledges To Resolve N4 trillion Longstanding Debt Claims

July 25, 2025
KERC Moves to Decentralise Mini-grid Power Generation, Distribution
Power

KERC Moves to Decentralise Mini-grid Power Generation, Distribution

July 17, 2025
Next Post
LP Expels Doyin Okupe, DG Obi/Datti Campaign Council

Massive Crowd As Obi’s Campaign Train Storms Owerri

SWEAT, BLOOD, AND TEARS , A reading of Lola Akande’s novel, ‘What It Takes’

SWEAT, BLOOD, AND TEARS, A Reading Of Lola Akande’s Novel, ‘What It Takes’

Ex-CAN President, Pastor Ayo Oritsejafor Divorces Wife Of 25YRS

Ex-CAN President, Pastor Ayo Oritsejafor Divorces Wife Of 25YRS

Leave a Reply Cancel reply

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

Follow Us

Recommended

Abuja-Kaduna Train Service Resumes Dec 5 – NRC

Kaduna Train Attack Victims Demand Compensation From FG

3 years ago
Drug War : Senate Commends Marwa, Promises NDLEA More Support, Partnership

Drug War : Senate Commends Marwa, Promises NDLEA More Support, Partnership

2 years ago
Lukaku Meets With Al-Hilal Chiefs , Saudi Giants Offer Him £21MILLION Per Year

Lukaku Meets With Al-Hilal Chiefs , Saudi Giants Offer Him £21MILLION Per Year

2 years ago
Abiodun Signs N703.028bln 2024 Budget, Says It Will Make Ogun Nigeria’s Infrastructure Capital

Abiodun Signs N703.028bln 2024 Budget, Says It Will Make Ogun Nigeria’s Infrastructure Capital

2 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

Kidnappers Release Kogi Catholic Priest, Rev. Fr. Ezeamba

Our CNG Drivers Enjoy Life Insurance, Housing Loans, Earn Three Times The Minimum Wage – Dangote Refinery

President Tinubu Returns To Abuja

Anti-graft Group, YPU, Decries Disrepair State Of Hospitals, Roads In Yobe In spite Alleged Release Of N1 trillion

Your Allegation Of Cheaper Petrol Sales In Togo Misleading, Inaccurate – Dangote Refinery To DAPPMAN

NNPCL GCEO, Ojulari Calls For Stronger African Collaboration To Achieve Energy Security

Trending

Dangote Cement, Jakura Community, Sign Landmark Development Agreement In Kogi
Environment

Dangote Cement, Jakura Community, Sign Landmark Development Agreement In Kogi

by Vital News
September 17, 2025
0

There were jubilations on Wednesday Sept 17, 2025, as Dangote Cement Plc, Obajana Plant, and the Jakura...

GSF Publisher, Lawal Sale, Bags Silk Road Global News Award In China

GSF Publisher, Lawal Sale, Bags Silk Road Global News Award In China

September 17, 2025
BHPF : President Tinubu Approves Immediate Release Of N29,284,145,353.78 To 36 States,FCT

Tinubu Lifts Emergency Rule In Rivers, Fubara, Deputy, Speaker Resume Tomorrow, September 18

September 17, 2025
Catholic Priest Kidnapped In Kogi

Kidnappers Release Kogi Catholic Priest, Rev. Fr. Ezeamba

September 17, 2025
Our CNG Drivers Enjoy Life Insurance, Housing Loans, Earn Three Times The Minimum Wage – Dangote Refinery

Our CNG Drivers Enjoy Life Insurance, Housing Loans, Earn Three Times The Minimum Wage – Dangote Refinery

September 17, 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

  • Dangote Cement, Jakura Community, Sign Landmark Development Agreement In Kogi September 17, 2025
  • GSF Publisher, Lawal Sale, Bags Silk Road Global News Award In China September 17, 2025
  • Tinubu Lifts Emergency Rule In Rivers, Fubara, Deputy, Speaker Resume Tomorrow, September 18 September 17, 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