Osinbajo leaves for US seeking global energy support

Vice-President Yemi Osinbajo has left Abuja for the United States in search of partnerships and support for Nigeria’s recently launched Energy Transition Plan.

Osinbajo, who is expected to hold a meeting with the US Vice-President Kamala Harris, delegation is accompanied by Zainab Ahmed, minister of finance; Abubakar Aliyu, minister of power; Babatunde Fashola; minister of works and housing, and Mohammed Abdullahi, minister of environment, among others.

In a statement on Wednesday, Laolu Akande, Osinbajo’s spokesman, said the vice-president would have meetings with Kamala Harris, his US counterpart.

Akande said the vice-president would also be meeting with Jennifer Granholm, secretary of energy; Janet Yellen, secretary of treasury; and David Malpass, president of World Bank Group.

Last week, Nigeria’s transition plan was officially launched at a virtual event.

It is a homegrown, data-backed and multi-pronged strategy developed for the attainment of 2060 net-zero emissions commitment in five sectors; power, cooking, oil and gas, transport and industry.

The country targets $410 billion to be able deliver on the transition plan by 2060.

“Among other highlights, the plan needs at least $10 billion per annum above business as usual spending for effective implementation,” the spokesman said.

“At the launch, the World Bank and a renewable energy organization – Sun Africa, pledged a sum of $1.5 billion each totaling an initial $3 billion investment to support the implementation of Nigeria’s Energy Transition Plan.”

The vice-president is expected to come back to the country next week.