Nigeria is exploring a partnership with India to accelerate its energy transition, seeking funding and technical assistance to drive its shift away from fossil fuels.
This move comes as Nigeria aims to achieve universal energy access by 2030 and a carbon-neutral energy system by 2060.
Taraba State Governor Agbu Kefas highlighted the challenges of financing green energy projects at the India Energy Week, emphasizing the need for support to overcome these hurdles.
India, with its expanding renewable energy capacity, is well-positioned to provide valuable expertise and assistance to Nigeria.
Nigeria’s energy transition plan, launched in August 2022, aims to generate 30,000 MW of electricity from renewable energy sources and create up to 340,000 jobs by 2030.
However, the country faces significant challenges, including insufficient power generation, inadequate infrastructure, and a high level of energy poverty.
A potential partnership with India could help address these challenges, leveraging India’s experience in renewable energy development and financing mechanisms.
This collaboration could also facilitate knowledge sharing, capacity building, and technology transfer, ultimately supporting Nigeria’s transition to a more sustainable energy mix.
