African leaders must strengthen cooperation in financing green projects, says Buhari

President Muhammadu Buhari has asked African leaders to strengthen cooperation in financing green energy projects.

Buhari, represented by Olamilekan Adegbite, minister of mines and steel development, said this on Wednesday at Nigeria-Africa Natural Resources and Energy Investment Summit in Abuja.

He also urged African nations to develop initiatives and technologies that will lead to industrialisation in the region.

Buhari said energy transition presents many challenges and opportunities for developing countries in Africa. 

“I am delighted to see various African nationals gathering here today to deliberate and create a framework within which future cooperation and collaboration can take place,” he said.

“Today’s convention is indeed important. I believe this will spur us as a continent of diverse people to cooperate and collaborate more and initiate innovative solutions to the challenges that are peculiar to us.

“We should come up with technologies and products that will lead to the growth and industrialisation of Africa in a more environment-friendly manner while encouraging the development and financing of green energy projects.

“As I welcome you all, I will like to state a declaration of cooperation that participating countries should strengthen their cooperation through joint assessment and viewpoints, with the aim of financing sustainable African natural resources and energy projects.”

Buhari said the meeting provided an opportunity to share views on natural resources and energy market developments.

He also advised that the status of such cooperation should regularly be reviewed at technical and ministerial levels. 

“Our joint meetings and activities will support us in formulating favourable policy and strategy development for the natural resource sector as the world looks towards a greener future,” he added.

“A policy that is less subject to extremes, both today and in the future. We must strive to remain committed to our joint statements in the declaration of cooperation and ensure continuity.”