The Federal Government stressed that Africa is not a net contributor to global emissions and reaffirmed its determination to create an enabling environment for investment in hydrocarbons to tackle energy poverty.
President Bola Tinubu’s Special Adviser on Energy Affairs, Olu Verheijen, made this statement on Tuesday at S&P Global’s CERAWeek session on “Policy and People: Pathways to a Just Transition.”
Africa’s role in global emissions
Nigeria, along with other African and middle-income countries, continues to advocate for a just energy transition amid the global push towards net-zero emissions.
Under its Decade of Gas initiative, the Nigerian government has embraced natural gas as a transition fuel to support economic growth while reducing carbon emissions.
Verheijen highlighted that Africa and other low-income countries account for only about 3-4% of global greenhouse gas emissions, while China and the United States account for about 30% and 13% of global carbon dioxide emissions, respectively. Together, the two countries account for almost 40% of global emissions.
Speaking on creating an attractive investment environment, Verheijen highlighted Nigeria’s commitment to fostering a stable investment environment and addressing climate-related risks through clear and transparent policies.
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“In Nigeria, we are ensuring that we create an enabling environment for investment. When it comes to climate change, we recognize the importance of risk awareness in the market and are committed to time-tested and transparent policies that enable the deployment of capital,” she said.
He also emphasized the need for greater regional integration to attract capital and improve market efficiency.
“We need to strengthen economic integration across African countries to create larger and more attractive investment markets. By pooling resources, integrating markets and leveraging cooperation across the continent and regional blocs, we can drive sustainable development,” she added.
Mr. Verheijen emphasized the importance of better data collection and analysis in Africa to support informed decision-making and policy development.
“Even if Africa achieves exponential economic growth and reaches middle-income country status, the continent will still not make a significant contribution to global emissions. The bulk of emissions reduction will need to be carried out by developed countries, who will need to diversify their energy sources and invest heavily in carbon removal and reduction technologies,” she explained.
He further noted that a balanced approach is needed to ensure developing countries have access to natural resources to drive prosperity, while also adopting climate action that increases adaptability and sustainability.
Through strategic investments and policy reforms, Nigeria and the broader African continent aim to eliminate energy poverty, attract investment and contribute to a more sustainable global energy transition.
