Subsidy removal shifted Nigeria’s attention to renewable energy, says minister

Kunle Salako, minister of state for environment, says the removal of petrol subsidy has shifted Nigeria’s attention to renewable energy.

Salako spoke on Monday at the 78th session of the UN General Assembly in New York.

He claimed that the subsidy removal has reduced the emission generated by petrol, adding that the rate of consumption also declined by 33 percent in Nigeria.

“The singular action has reduced Nigeria’s consumption of petrol by 33 per cent, reduced the level of emission generated by Nigerians,” NAN quoted Salako as saying.

“The courageous decision to remove subsidy from petroleum is furthering climate action by Nigeria.

“I had highlighted this development in some of the meetings I attended or represented the president and at the meeting of committee of African heads of state and government on climate change and at the meeting of commonwealth ministers of environment and climate.

“Nigeria participated in the meeting of committee of African heads of state and government on climate change where I represented president to pass a resolution to adopt the Nairobi declaration for final vetting by the meeting of AU.

“The first meeting of commonwealth ministers of environment and climate in which the ministers decided to approach the 28th conference of parties in Dubai come late November to early December with common front of pushing for better financing for climate action.

“I represented Nigeria at the meeting, and I established that President Bola Ahmed Tinubu by taking the courageous decision to remove subsidy from petroleum is furthering climate action by Nigeria.

“It has also focused the attention of Nigeria at corporate and individual levels to renewable energy.”

In his address at the event, the minister said there is a need to prioritise the 30 x 30 global target to protect 30 percent of the planet nature by 2030.

“Last year, at COP15, the world agreed to fully close the nature finance gap and set a near-term target of delivering at least $20 billion in international finance to the global south by 2025,” he added.

“Last month in Addis, African countries came together and issued a declaration that underscored the importance of these nature finance targets.”

He said Nigeria would like to urge all countries to increase their efforts on this issue and to work “with us to ensure that the world follows through on these crucial finance commitments”.

He said Nigeria invites everyone to act and envision solutions that will preserve nature for future generations.