The federal government of Nigeria, together with Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ), a German firm, are working to develop a hydrogen policy that will be ready by the end of February for opportunities in the energy industry as the country aims to diversify the economy away from its reliance on petroleum revenue.
The aim is to tap into the global hydrogen economy which is expected to hit over $200 billion by 2030.
Although the details are still skeletal, the hydrogen policy which will be multi-sectoral, will involve the energy, transportation, industry, and environment sectors amongst others when it is ready.
Osagie Jacobs, Director of Information & Public Relations in the Ministry of Budget and Economic Planning disclosed this in a statement after a meeting on the strategic framework and implementation plan for the policy between the federal government, German firm’s Hydrogen Office in Nigeria and the United Nations Industrial Development Organization (UNIDO).
Ministries of Environment, Petroleum Resources, Innovation, Science and Technology, Power, Energy Transition Office, Energy Commission of Nigeria, Climate Change, and the NNPCL are also involved in formulating the Hydrogen policy which GIZ’s German Nigerian Hydrogen Office (H2-Decarbonization diplomacy) prepared the roadmap.
The Minister of Budget and Economic Planning Sen. Abubakar Atiku Bagudu who stated the policy should be ready by the end of February 2025, noted that the principal role of the Ministry was to ensure that the development partners align with Nigeria’s development plans.
Markus Wagner Country Director of GIZ explained that the GIZ, now a private firm, was previously state-owned and is interested in the development of a Hydrogen policy that will ensure a sustainable and environmentally friendly future in addition to shaping policy, investments and fostering partnerships that will propel Nigeria towards achieving its energy transition and de-carbonization objectives.
Speaking also was the Permanent Secretary Emeka Vitalis Obi who pointed out that the development of a hydrogen policy required a multi-sectoral approach as relevant stakeholders such as energy, transportation, industry, and environment amongst others, hence the need for the Ministry of Budget and Economic Planning to coordinate the Hydrogen policy framework.
He assured all present that the Ministry as the coordinating body for policy and development assistance, will continue to provide its supervisory role in implementing projects in the country.
Comments are closed.