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Debt crisis, energy security, and Nigeria's slippery road to net-zero ambition | The Guardian Nigeria News - Nigeria and World News — Features — The Guardian Nigeria News – Nigeria and World News

Nigeria, like many African countries, is at a crossroads. Although endowed with immense natural resources, energy access, and security remain primary concerns even as the debate for energy transition creates more worries. With a debt profile of N77 trillion, Nigeria is looking to finance an energy transition and renewable energy roadmap of $3.2 trillion while […] ....

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Nigeria targets 70% retention of $20.4bn spent on oil, gas projects

With the Federal Government able to retain about $8 billion of the $20.4 billion spent on some projects by oil firms between 2016 and 2021 through local content development ....

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Fossil fuels divestment may halt $150b oil, gas projects

• Osinbajo canvasses equitable global energy transition for developing countries
• Stakeholders raise fresh concerns over continuous dependence on hydrocarbon
• Removal of subsidy, refinery rehabilitation, gas economy sacrosanct, minister insists
Mounting global advocacy aimed at halting all-new Final Investment Decisions (FIDs) for fossil fuels, especially oil and gas may create serious hurdles for new fields development as over $150 billion worth of projects risk getting stranded in Nigeria.
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Investments in new fossil fuel projects will need to stop immediately if the world is to limit global warming to 1.5 °C, the International Energy Agency (IEA) has said in what commentators have described as a stunning challenge by the historically pro-fossil fuel body. ....

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