Nigeria has revealed that it will require $1.9trillion or 834trillion Naira to attain net zero by 2060 as part of its support to the global fight against climate change and meeting the country’s Energy Transition Plan.
According to a report filed by The PUNCH, the West African nation stated the amount in its Energy Transition document.
Per the report, the country wants to spend $10bn or N4trn annually over the coming decades.
There would be incremental investments from 2021 through 2060 to attain the plan.
A breakdown of the required spending by the sector shows that $135bn will be spent in the infrastructure sector, while $150bn is to be spent on the power sector.
Also, $12bn will be expended on the oil and gas sector; $21bn on the industry; $79bn on the cooking sector; and $12bn on the transport sector.