The Federal Government says Nigeria needs $410 billion to achieve its energy transition plan by 2060 to address challenges in the sector and policy flexibility.
The Minister of State for Petroleum Resources, Timipre Sylva, said this at the 7th meeting of the National Hydrocarbons Council in Minna.
The News Agency of Nigeria reports that the theme of the meeting was “Roadmap and Strategic Option for Energy Transition in Nigeria”.
Sylva, who was represented by the Permanent Secretary in the Ministry, Gabriel Aduda, said Nigeria was committed to achieving carbon neutrality.
“This will end energy poverty by lifting 100 million people out of poverty and driving economic growth.”
The state minister said the country was on the verge of introducing cutting-edge technology in gold mining through the Solid Minerals Development Fund.
To this end, he said the Federal Government had received 34 Memorandums of Understanding.
Sylva said seven joined and 11 resigned, adding that the notes were presented to the board.
He commended Niger State for its large amount of solid mineral resources and hydrocarbon deposits.
NAN reports that the three-day meeting is attended by stakeholders from the oil and gas sector, hydroelectricity, energy, academia and security, as well as traditional leaders.
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