Osinbajo, Sylva, Kyari, Others To Discuss Green Energy At LCCI’s OPTS’ 60th Anniversary

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The Vice President, Prof. Yemi Osinbajo, would be leading top policymakers and chieftains of the Nigerian energy industry to brainstorm on the country’s green energy transition at the 60th Anniversary Dinner of the Oil Producers Trade Section (OPTS), an upstream segment of the Lagos Chamber of Commerce and Industry (LCCI).

OPTS has scheduled the event which will also be attended by the Minister of State for Petroleum Resources, Timipre Sylva; Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, amongst other public and private sectors players, for September 22, 2022, in Lagos.

Executive Director, OPTS, Bunmi Toyobo, said Osinbajo, being the special guest of honor, would deliver a keynote address titled, “Nigeria: Transitioning to Green Energy.”

Green energy otherwise known as an alternative source of energy that is cleaner, more sustainable, and environmentally friendly than renewable sources has become a topical issue in the global energy landscape owing to the devastating effects of fossil fuel and other energy sources that are harmful to the climate. Nigeria has been making efforts to align through various policies and programs and the federal government had set its net-zero target by 2060.

Osinbajo a fortnight ago at the virtual launch of Nigeria’s Energy Transition Plan, a roadmap to tackle the dual crises of energy poverty and climate change, had declared that Nigeria was seeking $10 billion from international partners to fund the nation’s new Energy Transition Plan.

He stated that Nigeria was currently engaging with partners such as the World Bank, and the US Exim-bank among others to secure an initial $10 billion support package ahead of the Climate Change Conference of the Parties (COP27) scheduled to hold in Egypt in November 2022, along the lines of the South African Just Energy Transition Partnership announced at COP26 in Glasgow last year.

“Nigeria would need to spend $410 billion above business-as-usual spending to deliver our Transition Plan by 2060, which translates to about $10 billion per year,” he had stated. However, since its founding in 1962 as a group under the LCCI, OPTS has been the foremost advocacy group for the upstream sub-sector of the Nigerian oil and gas industry.

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