Olu Veheijen reaffirms FG’s commitment to combating energy poverty
The Federal Government of Nigeria has reiterated its commitment to creating an enabling environment for hydrocarbon investments to tackle energy poverty, emphasizing Africa’s minimal contribution to global emissions.
Olu Verheijen, Special Adviser to President Bola Ahmed Tinubu on Energy, made the statement on Tuesday in Houston, Texas, during a session at CERAWeek by S&P Global.
The session, titled “Policy and People: Pathways to a Just Transition,” was chaired by Vera Blei, Head of Market Report & Trading Solutions at S&P Global. Key speakers included Scott Tinker, CEO of Tinker Energy Association, and Sunita Narain, Director-General of the Centre for Science and Environment.
Verheijen highlighted that Africa, along with other low-income countries, contributes only 3-4% of global greenhouse gas emissions, contrasting sharply with China and the United States, which account for nearly 40% of global CO₂ emissions.
“Nigeria, through its “Decade of Gas” initiative, is leveraging natural gas as a transition fuel to support economic growth while reducing carbon emissions.”
Olu Verheijen emphasized Nigeria’s commitment to fostering a stable investment climate and addressing climate-related risks through transparent, long-term policies. She stressed the importance of regional integration to attract investment and enhance market efficiency, calling for stronger economic cooperation across African nations.
“We need to integrate markets, pool resources, and collaborate to create a larger, more attractive market for investment,” she said.
Verheijen also stressed the importance of better data collection and analysis to inform policy decisions.
She noted that even if Africa experiences rapid economic growth, the continent will remain a minor contributor to global emissions, with the bulk of emission reductions coming from developed nations.
She emphasized that a balanced approach is crucial for developing economies to use their natural resources for prosperity while adopting climate solutions that ensure adaptability and sustainability.
“Through strategic investments and policy reforms, Nigeria and Africa aim to address energy poverty, attract investment, and contribute to a sustainable global energy transition,” she said.
