Nigeria to benefit from $200m clean energy initiative fund

The Clean Energy Demand Initiative has committed $200 million to help Nigeria and other countries transition faster to clean energy economies. 

John Kerry, the US special presidential envoy for climate, made this known in Abuja on Tuesday during a courtesy visit to Mohammed Abdullahi, minister of environment.

He said the support, captured under the US Clean Energy Demand Initiative, will help countries to implement the buying and production of green products.

Kerry signed a memorandum of understanding (MoU) with the minister on the initiative, saying the programme would also help to address the climate crisis and create jobs for Nigerians.

“The initiative is also to accelerate the marketplace creation so that it will help the transition programme faster and help to achieve a clean energy economy as well as dealing with the climate crisis,” he said.

“We have $200 million at the moment committed to the startup in the process of safety for the programme. But we know that ultimately this transition is going to take billions of dollars and even trillions of private investment.

“We talked today about the ways in which we can be helpful to bring a major amount of capital to the table with technology to help Nigeria move faster to the clean energy economy. That is the future and all of the citizens of Nigeria will benefit from cleaner air.”

Kerry said the US hopes to assist Nigeria in achieving the goals set out in its nationally determined contributions (NDCs).

He said Nigeria is taking the lead in tackling climate change and that the clean energy initiative will help in pushing Nigerian businesses forward.

“As you also think about the long-term future and sustainability for Nigeria and for Africa, we will like to explore with you on how we can increase the ambition that you have set out already in your Nationally Determined Contribution (NDC); the plans of the national council on climate change recognizing that Nigeria is a very important country with respect to the crisis that we face,” Kerry said.

“You are a producer of fossil fuel you have enormous gas reserves. But you also have great respect for the land and great concern about how to proceed forward. And so I would like to explore with you and listen to you to think through how we can work together as you implement your own climate change.”

Abdullahi thanked the US government for considering Nigeria as one of the countries to participate in the Clean Energy Demand Initiative.

The minister said the essence of the initiative was to ensure healthy and clean energy accessibility in the country.

He said the ministry is committed to working with the US government for the effective implementation of environmental programmes and to achieve net zero in Nigeria.