FG Unveil Gazettes to Address energy Crisis

The Federal Government has unveiled a Gazettes on National Energy Policy and National Energy Masterplan to address challenges affecting energy efficiency in Nigeria.

Unveiling the Energy gazette in Abuja, Minister of Innovation, Science and Technology, Uche Nnaji, said the document which will serve as a platform to monitor the performance of energy sector in the implementation of government’s policies, will also power industries, enhance economic development and attract more investments.

According to him, the FG in pursuance of this target have floated two green bonds of 10.6 billion dollars and 15 billion dollars in the first and 2nd tranches respectfully, while the third tranche with  a threshold of 50 billion dollars targets projects with clear environmental benefits and promote the transition to low carbon and climate resilient growth.

“This no doubt opens additional investment initiatives under Nigeria’s Energy Transition Plan, where the bondholders, beneficiaries, suppliers, manufacturers and a host of other value chain activities generate enormous investment opportunities”.

In his address, Director-General Energy Commission of Nigeria ECN, Dr Mustapha Abdullahi, said in achieving this target, the commission will partner stakeholders, to guarantee Energy security.

“we have so many sources of energy and the roadmap is to ensure energy efficiency which is also one of the key issues.  We have also made the observation that it is not the generation of energy that is the issue but its utilization.  So, the documents highlight the best way to use and save energy.”

The Special Adviser to the President on Energy , Olu Verheijen, described the initiative as a significant milestone in addressing Nigeria’s longstanding energy crisis which has affected all segment of the nation’s sustainable development. “we must embrace a holistic approach that prioritizes the diversification of energy resources, prioritizes energy efficiency and availability in this sector to ensure reliable energy access for all Nigerians.”

Contributing, the Special Adviser to the President on Policy and Coordination, Hadiza Bala Usman, emphasised that the National Energy Policy and the National Energy Masterplan have the potential of unlocking Nigeria’s vast energy resources by eliminating obstacles, paving way for a future powered by reliable, sustainable, and affordable energy sources.

“We are confident that the implementation of these policies will transform lives across the nation. The current administration is fully aware of the tremendous social and economic benefits of a resilient, stable, and profitable energy sector” She added.

The event was well attended by top government officials, some of whom joined the Minister of Innovation, Science and Technology Uche Nnaji and Special Adviser to President Bola Tinubu on Energy Olu Verheijen as well as Director General of the ECN, Dr. Mustapha Abdullahi, among other dignitaries, to unveil the documents