Event Description

Posted Tue, Feb 18, 2025 8:39 AM

Timeframe: Wed, Feb 26, 2025 11:00 AM - Wed, Feb 26, 2025 1:00 PM

Engagement Towards a Successful Global/Nigerian Energy Transition Initiatives

Nigeria has made a commitment to achieving net-zero emissions and submitted its updated 2021 Nationally Determined Contributions (NDC) to the United Nations Framework Convention on Climate Change (UNFCCC). The country is currently implementing the Energy Transition Plan (ETP) and currently undergoing review, which outlines the significant effort required to achieve the 2060 net zero target while also meeting the nation's energy needs. Additionally, Nigeria has put in place several policies related to climate change, including the Climate Change Act of 2021, the National Climate Change Policy (2021-2030), and the National Climate Change Programme for Nigeria (2021-2030). 

Furthermore, Nigeria created the Long-Term Low Emission Development Strategy (LTLEDS), which builds upon the initial 2050 Long-Term Vision for Nigeria submitted to the UNFCCC during COP26 in 2021. At COP 28 in Dubai in 2023, Nigeria launched its LTLEDS, representing a significant step in the country's commitment to addressing climate change and transitioning to a greener and more resilient future. The LT-LEDS aims to achieve a net-zero carbon economy by 2060.

Achieving the Paris Climate Agreement and the Sustainable Development Goals (SDGs) requires a rapid global transition to clean energy. This transition demands extensive and coordinated efforts from the international donor community, in close collaboration with emerging and developing nations. In recent years, numerous international initiatives have been launched to decarbonize energy systems. However, these initiatives often face challenges such as limited resources in developing countries and emerging economies, as well as a lack of experience with or access to the systems of partner countries. Additionally, the increasing number of initiatives can lead to confusion and strain the already limited personnel resources in these countries. As a result, many valuable offerings from these international initiatives go underutilized or are hardly accessed.

The successful implementation of these policies requires the involvement of stakeholders to strengthen public-private engagement and support the private sector participation in the implementation of the Global Energy Transition Plan, which is a crucial measure in addressing climate change challenges and promoting socio-economic growth.

In this regard The Nigerian Economic Summit Group (NESG) will be collaborating with the GIZ PACT in engaging the international communities and Development Partners, donors, development finance institutions (GEAPP, Ford Foundation, NZW, the World Bank, USAID, USTDA, UNIDO, IEA, RMI, and other international organizations) towards a Successful Nigerian Energy Transition to addresses this challenge by providing guidance to partner engaged in these initiatives and supporting specific related activities.

The project will ultimately bring about information and policy that support interventions that drive the energy transition and inclusive development by unlocking opportunities in the energy sector and carbon market, simulating climate change resilience and economic development, unlocking private sector and employment opportunities, research and development.

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Attendance Type Attendance Type Virtual Physical

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