Speaking at the inaugural meeting of Nigeria’s Energy Transition Plan, Aug. 24, Nigerian Vice President Yemi Osinbajo insisted that Nigeria will need $10 billion a year in investment in energy infrastructure—for the next 40 years—in order to meet its 2060 climate goals. Considering that Western countries have not even come close to their promised $100 billion a year Climate Funding package (agreed to in Paris, 2015), this demand is the equivalent of throwing down the gauntlet on the entire COP “climate change” game, as Western forces will never be able (or willing) to generate the credit, nor would they endorse the spirit of development contained within it.
“For Africa, the problem of energy poverty is as important as our climate ambitions,” Osinbajo insisted, according to a statement from his office published in the Premium Times. “Energy use is crucial for almost every conceivable aspect of development; wealth, health, nutrition, water, infrastructure, education, and life expectancy are significantly related to the consumption of energy per capita.
“Nigeria would need to spend $410 billion above business-as-usual spending to deliver our transition plan by 2060, which translates to about $10 billion per year. The average $3 billion per year investments in renewable energy recorded for the whole of Africa between 2000 and 2020 will certainly not suffice.
