Minister reiterates FG’s move to lift 100m out of poverty

 Minister reiterates FG’s move to lift 100m out of poverty

The Minister of State for Power, Mr Goddy Jedy-Agba, reiterated the Federal Government’s determination to lift 100 million Nigerians out of poverty by 2030 through its Energy Transition Plan (ETP).

Jedy-Agba disclosed this during 2022 Nigeria Energy Forum Day 2, Virtual Edition, held on Monday following the Day 1 physical event earlier in Lagos.

The News Agency of Nigeria (NAN) reports that President Muhammadu Buhari had unveiled the government’s plans to lift 100 million Nigerians out of poverty by 2030.

Ms. Kachollum Daju, the Permanent Secretary, Ministry of Labour and Employment, said this when she addressed newsmen on Sunday in Abuja.

According to the minister, ETP will lift no fewer than 100 Nigerians out of poverty and drive the economic growth of the country.

“It will also bring modern energy services to the full population and manage the expected long-term job loss in the oil sector due to global decarbonization.

“The plan focuses on the rapid build-out of sustainable energy systems to tackle energy poverty in the nation,” the minister said.

He said in designing the plan, key targets from relevant policies and initiatives such as the 2020 Economic Sustainability Plan, the Nigeria Electrification Project, the National Decarbonization Programme and the Presidential Power Initiative.

“The ETP is geared towards low-carbon development of Energy systems across 5 key sectors; Power, Industry, Cooking, Transport, and Oil and Gas.”

Jedy-Agba said the plan had been approved by the Federal Executive Council and adopted as National Policy.

“An Energy Transition Implementation Working Group (ETWG) has been established to drive the implementation of the ETP along with key International Partners.

“The ETWG is chaired by Vice President Yemi Osinbajo and comprises of several key ministers including the Ministers for Environment, Finance, Works and Housing, Petroleum Resources, Foreign Affairs and Power.

“The Working Group and its secretariat, the Energy Transition Office, have been engaging with in-country stakeholders, development partners, financiers and the international community for the delivery of the plan,” he said.

He said the ETP analysis shows that delivering Nigeria’s net-zero target requires 1.9 trillion dollars in spending up to 2060, including 410 billion dollars above business-as-usual spending.

Speaking on the plan, Ms Inga Stefanowicz, the Team Leader of, the Green Economy Co-operation Section, EU Delegation to Nigeria and ECOWAS, said Nigeria was not standing aloof on the ongoing transition.

According to her, the EU will contribute some 400 million Euros worth of projects and programs to the ETP.

“This amount may seem modest when compared with the needs and the ETP estimates, but it is also the role of our funds to act as catalyzers of change, reforms, private sector, and international development finance investment.

“We are proud to have achieved such positive spillovers for Nigeria already and we look forward to working together more,” she said.

Dr. Daniel Oluwole Adeuyi, Chairman 2022 NEF, said, “Practical actions on project financing, people development, and policy implementation must progress at a pace to achieve the target of 30GW installed generation capacity by 2030 with 30 percent share of renewable energy Nigeria”.

Adeuyi said that the NEF2022 webcast was focused on capacity building for energy professionals, policymakers, business leaders, and consumers.

He said that it demonstrated cross-industry collaboration and contributions toward ensuring a sustainable, just, and people-centric energy transition.

In his remarks, Mr. Adekunle Makinde, NEF2022 Co-Chairman, said more than 25 speakers out of which 50 percent were women energy leaders/professionals participated across four different top-class hands-on training workshops on the webcast, which attracted 300 subscribers.

Makinde said the workshops include: Energy Transition Plenary, supported by the Ministry of Power; Improving Utility Processes and Business Models to enable Distributed Energy Resources Adoption, by USAID/PowerAfrica NPSP.

“Others are Energizing Agri-Food Panel, by GEF SGP UNDP; Clean Power to Green Hydrogen, by the GIZ German Nigerian Hydrogen Office; and Energy Innovation Panel & Awards, by All On & NEF.

Source : Guardian