FG allocates N130 billion for energy transition plans

The federal government has allocated N130 billion for the implementation of energy transition plans in Nigeria, according to the Minister of Budget and Economic Planning, Abubakar Bagudu.

Speaking through his special adviser, Bolaji Onalaja, at a climate action dialogue in Abuja on Monday, Bagudu highlighted the President Bola Tinubu administration’s consistent commitment to climate action since its inception.

This dedication has led to the inclusion of N130 billion in the 2024 budget for the execution of the energy transition plan, aimed at driving Nigeria’s low net emissions growth.

The dialogue, themed “Unlocking Climate Finance, Actionable Pathways for Nigeria’s Low Net Emissions Growth,” focused on integrating climate action into Nigeria’s development plans.

“In spite of the seemingly challenges on issues relating to environment, the administration is committed and ensuring implementation of the Presidential CNG initiative and other energy transition programmes,” he said.

He said the Climate Change Act 2021 had been passed, while the National Council on Climate Change had been established.

Mr Bagudu thanked the organisers of the programme for the initiative, which he said was designed to further evolve sustainable ways of financing climate change actions to ensure low carbon emissions.

The minister also urged all stakeholders, including governments across board, civil society organisations (CSOs), local and international donor organisations, to support the process of unlocking climate change actions financing in Nigeria.

Earlier, the executive director, APRI, Olumide Abimbola, said the programme was designed to discuss Nigeria’s climate transition and explore actionable pathways for mainstreaming climate action into Nigeria’s development plans.

Mr Abimbola said APRI was looking at providing evidence-based insights to inform Nigeria’s climate action and ensure a just transition that would be driven by credible data and local realities.

“Our aim through our work on climate action in Africa is to serve as a resource hub that provides real, factual, evidence-based, and sometimes hard truths regarding the policies and actions of government and other stakeholders working on climate transition in Africa,” he said.

“Climate change is already inflicting immense damage on lives and livelihoods, especially on people who have the least capacity to adapt to its effects in Africa,” he said.