From Dare Akogun, Egypt
The Federal Government has said that it was pushing for 400 billion dollars commitments from developed countries and partners on climate change to finance its Energy Transition Plan (ETP).
Minister of Environment, Barrister Mohammed Abdullahi, disclosed this to Sobi FM on the sideline of the annual global conference on climate change otherwise known as COP27 on Tuesday at Sharm El Sheikh, Egypt.
Abdullahi, who led the Nigeria delegation to the climate change conference, said that the country expected very positive affirmative commitment when it came to funding to mitigate the challenge arising from climate change effect.
According to him “We expect very positive affirmative commitment from partners and developed countries. We intend to push that in our discourse and engagement virtually with every party and our partners.
“It depends on which sector we are talking about. If it is ETP, we are looking at $400 billion. If it is loss and damage, we are looking much more than that because it affects the entire developing countries.
“When it comes to other specifics like our efforts in the Sahel to do with the Great Green Wall, we are looking towards 18.5 billion Euros that was pledged by President (Emmanuel) Macron (of France) under the One Planet Summit.
“So, it depends on the specifics. Funding naturally will focus on specific thematic areas,” said the Minister.
The leader of the delegation, however, noted that Nigeria would not just abandon oil and gas under the global energy transition demand.
“We are not abandoning oil and gas; that is why we have the energy transition plan. The energy transition plan envisages first and foremost that fossil fuels, Nigerian gas will be transition energy between now and 2035.
“In other word, in between this period that we are relying on our oil and gas industry, we are also developing pari-passu, an independent energy transition that is aimed at reaching renewable; and majorly also, providing infrastructure for mini solar grids”, he said.
On compensation for loss and damage arising from the climate change impact, Abdullahi explained that it was an agenda of the developing countries and not Nigeria alone.
“So we are looking at between $500 billion to $1 trillion to support developing countries to face the challenges of loss and damage’ he said.
