New Telegraph

February 25, 2024

Energy Transition: Nigeria to benefit from US $12bn fund

The agreement between the United States of America (USA) and Nigeria to unanimously develop the Federal Government programme of using gas as a transitional fuel, is expected to make Nigeria a beneficiary of USA’s $12 billion Emergency Programme for Adaptation and Resilience.

The programme was put in place by President Joe Biden to help countries reduce the obvious impacts of the climate cri-sis, which includes reduction of carbon emissions. US Envoy Special Envoy on Climate Change, Sen. John Kerry, made the disclosure after a meeting with Minister of State Petroleum Resources, Chief Timipre Sylva, yesterday in Abuja.

He explained that the fund would assist Nigeria in developing technologies for wind and solar energy. According to him, the US was also working on providing technical support to Nigeria on its decarbonisation programme for its crude oil resources. He said: “We agreed today in our discussions that we’re going to work very closely in our working group to be able to develop further the plan going forward with respect to both the deployment of gas as a transitional effort, but also the important deployment of clean, renewable energy, and particularly solar and wind.”

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