• About
  • Advertise
  • Contact
Sunday, February 5, 2023
  • 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

Consumers Kick As Ikeja DISCO Demands N117,000 For New Meter, Moves To Withdraw Old Meter

NUEE Faults Injection Of N3trln Into Power Firms By FG

Nigerians Pay N1.367trilion For Electricity In 23 Months

2023 Election : Yiaga Africa Offers Technical Support To Young Candidates

“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

NUEE Faults Injection Of N3trln Into Power Firms By FG
Power

Consumers Kick As Ikeja DISCO Demands N117,000 For New Meter, Moves To Withdraw Old Meter

January 31, 2023
NUEE Faults Injection Of N3trln Into Power Firms By FG
Power

NUEE Faults Injection Of N3trln Into Power Firms By FG

January 6, 2023
Vandals Destroy 6 NDPHC Towers, Kill One Vigilante
Power

Nigerians Pay N1.367trilion For Electricity In 23 Months

January 3, 2023
2023 Election : Yiaga Africa Offers Technical Support To Young Candidates
Power

2023 Election : Yiaga Africa Offers Technical Support To Young Candidates

December 22, 2022
2023 Elections : Nigerians In Diaspora Sue Buhari, INEC
Power

53 Attacks Recorded On Our Facilities – INEC

December 16, 2022
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

NFF names Eguavoen Interim Manager, Amuneke , Chief Coach of Super Eagles

12 months ago

NDLEA intercepts US, Dubai bound drugs, arrests 41 suspects in Lagos, Abuja

8 months ago

90pct intending police officers fail recruitment examination – PSC

12 months ago

At Book Launch, Ogbeha Stresses Need To Revive Reading Culture

5 months 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

Abuja APC arrest Atiku attack Bandits Bello Buhari campaign candidate CBN cement church Court Dangote death die drugs EFCC Election elections FG Fraud FRSC gunmen INEC Kaduna kidnap Kill Kogi Lagos NDLEA Niger Nigeria Nigerians Ogun Oil PDP Police road Security Senate Tinubu train victims
No Result
View All Result

Highlights

INCOMPETENCE WEDS CORRUPTION the quickest way To Kill A Nation – Niyi Osundare            1

NAHCON Shares 95,000 2023 Hajj Seats To States, FCT

Dispense New Naira Notes Or Forfeit Your Land Titles, Zulum Threatens Banks In Borno

Alia Emerges Benue APC Governorship Candidate Again

Elections : Deaf People Ask INEC For Special Sensitisation Programme On Electoral Process

Tinubu Is Nigeria’s Awaiting President , Buhari Says In Lafia

Trending

Elections : INEC Takes Full Delivery Of BVAS
Politics

BVAS Did Not Fail During Osun Governorship Election, We Have Learnt Some Lessons – INEC Chairman

by Vital News
February 5, 2023
0

Abuja - The Chairman of the Independent National Electoral Commission (INEC),Prof. Mahmood Yakubu said on Saturday that...

Nigeria’s Problem Is Growth, Not Debt, Revenue – Dr Andrew Nevin

Nigeria’s Problem Is Growth, Not Debt, Revenue – Dr Andrew Nevin

February 5, 2023
STOP CONDEMNING NIGERIA, WE ARE DOING BETTER THAN MOST COUNTRIES  – Dr Sunday Adelaja

STOP CONDEMNING NIGERIA, WE ARE DOING BETTER THAN MOST COUNTRIES – Dr Sunday Adelaja

February 5, 2023
Lesson From Prof. Niyi Osundare’s Experience

INCOMPETENCE WEDS CORRUPTION the quickest way To Kill A Nation – Niyi Osundare            1

February 5, 2023
NAHCON, Saudi Firm Sign Agreement On Hajj Services, Secure Discount

NAHCON Shares 95,000 2023 Hajj Seats To States, FCT

February 5, 2023
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

  • BVAS Did Not Fail During Osun Governorship Election, We Have Learnt Some Lessons – INEC Chairman February 5, 2023
  • Nigeria’s Problem Is Growth, Not Debt, Revenue – Dr Andrew Nevin February 5, 2023
  • STOP CONDEMNING NIGERIA, WE ARE DOING BETTER THAN MOST COUNTRIES – Dr Sunday Adelaja February 5, 2023

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