Nigeria Unveils Ambitious $3.1 Trillion Fossil Fuel to Renewable Energy Transition Plan

Dr. Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), has unveiled Nigeria’s plan to invest a staggering $3.1 trillion in transitioning from fossil fuel to cleaner and renewable energy. The announcement was made during the 54th Annual Meeting of the World Economic Forum in Davos, Switzerland.

According to Lokpobiri, the nation has allocated $1.9 trillion for its energy transition plan, with an additional $1.2 trillion earmarked for the renewable energy initiative by the year 2060. This comprehensive strategy underscores Nigeria’s commitment to embracing sustainable energy practices and reducing reliance on fossil fuels.

During the forum, Lokpobiri, accompanied by Vice President Kashim Shettima and other global leaders, emphasized Nigeria’s dedication to responsible fossil fuel exploration. The country intends to leverage cutting-edge technologies to meet its energy needs while aligning its energy policies with the expectations of the Organisation of the Petroleum Exporting Countries (OPEC).

Addressing concerns about financial dependence, Lokpobiri asserted that Africa, particularly Nigeria, would not rely on external aids and grants for the transition. Instead, the nation aims to fund its $3.1 trillion energy plans independently. He stated, “Our 2060 projected energy transition plan and renewable energy plan stand at $1.9 trillion and $1.2 trillion, respectively.”

To realize these ambitious plans, Lokpobiri emphasized the need for increased investment in Nigeria’s oil and gas sector. This investment, he believes, will not only boost the economy but also ensure energy security. The minister highlighted the significance of domestic control over the mining and production of mineral resources, asserting that this approach would generate more climate finance for Africa without relying on external aid or grants.

Lokpobiri concluded by urging a shift in the conversation surrounding energy transition from fossil fuels, advocating for a focus on trade and partnerships rather than rigid deadlines. The bold initiative aligns with President Bola Tinubu’s commitment to spending $17.7 billion annually to deliver on Nigeria’s climate targets and energy transition plan, signaling a transformative journey towards sustainable and renewable energy solutions.

Tinubu Appoints Chioma Awuzie Substantive Rector, Fed Poly Oko

President Bola Ahmed Tinubu has approved the appointment of Dr. Chioma Irene Awuzie as the substantive Rector of Federal Polytechnic, Oko, Anambra State. Dr. Awuzie's appointment, which takes effect immediately for a five-year term, follows the recommendation of the Polytechnic's Governing Council, chaired by Sen. Dr. Barnabas Gemade, after a transparent and competitive selection process where she emerged as the leading candidate. Prior to her appointment, Awuzie, who holds a Doctorate Degree in Physical and Materials Chemistry, was a distinguished Chief Lecturer in the Department of Science Laboratory Technology (Chemistry Option) and also Director in-charge of Tertiary Education Trust Fund (TETFund) Projects in the Polytechnic. Under her stewardship, Federal Polytechnic, Oko, witnessed unprecedented advancements in infrastructure and institutional transformation. Her leadership facilitated monumental developments across the Polytechnic’s campuses in Oko, ...

#Watchvideo : SECURITY FORCES BURST THE CAMP OF UNKNOWN GUNMEN IN AKOKWA

Security Forces in the state through a coordinated intelligence report has bursted the camp of the unknown gunmen at Akokwa, Arondizuogu after a long gun duel which resulted to the death of some of the criminals and others arrested. These criminal elements have been known to be behind several attacks in the state such as the killing of police men in Mbaise, Aba Branch in Ehime Mbano, burning down of police stations, attack and attempted kidnapping of former Governor Ikedi Ohakim, abduction of Miss. P.P. Johnson, a female soldier in Okigwe and recently the attack in Akokwa that left many dead. It is obvious that these daredevil gunmen have been perpetuating their evil plans unabated until yesterday when their camp was bursted by security agencies. This is another assurance that our security operatives are leaving no stone unturned in the fight against banditry and other related activities. While it has become obvious that the activities of these non state actors are politically motivate...

Valentine Ozigbo Resigns from Labour Party

In a shocking move, against all speculations over the last few days, Valentine Ozigbo, a close ally of Peter Obi, has announced his resignation from the Labour Party (LP). Ozigbo confirmed his decision to Diaspora Digital Media on Wednesday, February 19, 2025, but declined to provide further details, opting instead to share his reasons during an interactive session on X (Twitter) Space. The session, scheduled for 8 PM, will feature Ozigbo in conversation with Anambra's First Son, @uchepokoye, discussing pressing issues affecting Anambra State, including security challenges, societal fabric collapse, and the hope for a better future. Ozigbo's resignation has sparked interest, with many awaiting his detailed explanation for leaving the Labour Party. His decision comes at a critical time for the party, which has been navigating various challenges in recent months. Credit: Diaspora Digital Media

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