Nigeria requires 410bn dollars to deliver oil plan by 2060 -Minister

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From Yakubu Mustapha Minna

Federal government has said that the country required $410 billion with $10 billion per annum to achieved Nigeria transition plan by 2060 to address its energy constraint and policy flexibility in the country.

Minister of state for Petroleum Resources, Timipre Sylva made the disclosure at the 7th Meeting of National Council on Hydrocarbons with the theme; Roadmap and Strategic Option Towards Achieving Energy Transition in Nigeria held in Minna.

He said the gathering of experts and policy makers in energy sector was designed to discuss and review energy related issues, identified opportunities, problems to proffer solutions in line with global best practices.

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Represented by the ministry’s permanent secretary, Gebriel Tanimu Aduda noted that Nigeria is committed to achieving carbon neutrality, end energy poverty by lifting 100 million people out of poverty and drive economic growth.

Niger State Governor, Alhaji Abubakar Sani Bello reiterated that the state has commercial deposit of hydrocarbons in Bida Basin sequel to the progressive reports and findings of federal government and the consultants from IBBU Lapai and FUT Minna.

Represented by the Secretary to the State Government SSG Alhaji Ahmed Ibrahim Matane who called for the political will and appealed to the relevant agencies to expedite actions on the exploration in the Bida Basin for optimal benefits.

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