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Nigeria’s energy revolution will cost $410 billion – FG

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Nigeria’s energy transition plan, according to the Federal Government, needs $410 billion to be completed by 2060 in order to meet problems and maintain policy flexibility.

Nigeria's energy revolution will cost $410 billion - FG

Nigeria’s energy revolution will cost $410 billion – FG

The Minister of State for Petroleum Resources, Timipre Sylva, said this at the 7th Meeting of the National Council on Hydrocarbons in Minna.

The News Agency of Nigeria reports that the theme of the meeting was, “Roadmap and Strategic Option Towards Achieving Energy Transition in Nigeria.”

Sylva, who was represented by the Ministry’s Permanent Secretary, Gabriel Aduda, said that Nigeria was committed to achieving carbon neutrality.


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“This will end energy poverty as it will lift 100 million people out of poverty and drive economic growth forward.”

The minister of state said the country through the Solid Minerals Development Fund was on the verge of unveiling a cutting-edge technology in gold mining.

 He said to this end, the Federal Government had received 34 Memorandum of Understanding.

Sylva said seven were merged and  11 were stepped down, adding that the memos had been presented to the council for consideration.

He applauded Niger State for its large quantity of solid mineral resources and hydrocarbon deposits in commercial quantity.

Newsmen reported that the three-day meeting is being attended by stakeholders in the oil and sector, hydro, energy, academia, and security as well as traditional leaders.

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