• Monday, December 04, 2023
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Energy Transition Office seeks private sector collaboration

NIES 2022: International panel session to focus on ‘future fuels, energy transition’

The Energy Transition Office (ETO) has taken steps towards advancing Nigeria’s energy transition goals by organising an E-mobility stakeholder session where it called for private sector collaboration in Lagos recently.

The E-mobility stakeholder session centred on the transportation sector’s transition to cleaner energy sources. Participants engaged in dialogues to identify existing E-mobility projects, discussed decarbonisation strategies, address policy constraints, and explore financing options for current and future initiatives.

According to the ETO, the transportation sector currently accounts for over 50 percent of global liquid fuel consumption, contributing to escalating emissions and environmental concerns.

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Recognising the urgent need for low-carbon development, the Energy Transition Plan (ETP), launched by the Federal Government in 2022, aims to achieve net-zero emissions by 2060. The ETP focuses on five key sectors, including power, cooking, transport, industry, and oil and gas.

“The importance of collaboration with industry practitioners and development partners in achieving ETP’s overarching goals cannot be overemphasised,” said Alfred Okoh, budget and multilateral finance specialist in the Energy Transition Office,

He highlighted the need to address constraints and secure funding for pipeline projects that align with Nigeria’s energy transition objectives.

According to the ETO, as Nigeria embarks on the decarbonisation journey within the transport sector, the development of E-Mobility presents a significant opportunity for sustainable transportation, increased energy efficiency, and economic growth.

Ademola Ogunbanjo, executive vice president of Oando Clean Energy, said the global shift towards renewable energy and the diminishing role of fossil fuels.