NIGERIA/AFRICA NEED HUGE AMOUNT OF ENERGY GENERATION TO DRIVE DEV- Adegbite

The Minister of Mines and Steel Development, Arc. Olamilekan Adegbite has emphasized that Nigeria and indeed Africa require a huge amount of energy generation to drive its development as the world shifts from fossil fuel to cleaner and renewable energy sources, in the fight against climate change.

He made the assertion while delivering his welcome speech during the Three-Day Inaugural Edition of the Nigeria-Africa Natural Resources and Energy Investment Summit, with the theme, “Towards a Greener Africa” which began on Wednesday, 1st June 2022 in Abuja.

The Minister stated that the convention was important as it would spur the continent to co-operate and collaborate more, initiate innovative solutions to the challenges that are peculiar to it, and come up with technologies and products that will lead to the growth and industrialization of Africa in a more environmentally friendly manner while encouraging the development and financing of green energy projects.

Adegbite while proposing and stating a Declaration of Cooperation, noted that “Participating countries in the Declaration of Cooperation would strengthen their cooperation, through joint Assessment and Viewpoints, with the aim to financing sustainable African Natural Resources and Energy Projects that are key to the transition, for the benefit of producers and consumers and to regularly review at technical and ministerial levels the status of our cooperation.”

He stressed the need for African countries to remain committed to the joint statements in the Declaration of Cooperation to ensure continuity.

Earlier, the Honorable Minister of State, Foreign Affairs, Alh. Zubairu Dada stated that the theme of the Summit was apt as it looks at issues and challenges of climate change that Africa can no longer ignore. Noting that it was time that the continent begins to make and adjust policies to safeguard the planet and the future.

Alh. Dada disclosed that President Muhammadu Buhari’s administration has already taken steps through policies toward a new carbon system and to chart a way forward and move away from fossil fuel to renewable energy, stating that Nigeria is determined to attain Net-Zero Emission.

In his opening remarks, Mr. Alok Gupta, GMD, African Industries Group, represented by Mr. Partha Gosh, noted that the Summit will chart a way forward for the development of natural resources and energy within Nigeria and across Africa in a sustainable manner. He noted that Nigeria has about 44 different kinds of minerals and precious metals in commercial quantities in over 500 locations across the country, a “very rare occurrence”.

Speaking, Mr. Gupta revealed that the mining sector as a critical backbone of the economy has initiated a number of reforms and regulations for sustainable growth and development. He said, ” I am confident that Nigeria’s solid minerals and mining sector has great potential to transform the nation’s economy to a greater extent.” Adding that the sector can contribute optimally to the country’s Gross Domestic Product (GDP).