AFDB Backs Nigeria’s Moves On Gas As Transitional Fuel

African Development Bank, AfDB has backed Nigeria’s advocacy to halt plans to defund gas projects, just as the global community moves towards the 2050 net-zero emissions target under the United Nations Climate Change agenda.

Nigeria has been on the forefront of an international advocacy questioning the planned defunding of gas projects as one of the moves towards achieving net-zero emissions.

Laolu Akande, Senior Special Assistant to the President on Media & Publicity Office of the Vice President disclosed this in statement made available to Vanguard on Wednesday, saying : ” Now, the continent-wide Africa Development Bank, AfDB, has thrown its weight behind the clamour during a meeting last week between Nigeria’s Vice President, Prof. Yemi Osinbajo, and a delegation of the bank. So also did a team of US experts recently in a widely published article.

The Vice President for Power, Energy, Climate and Green Growth at the African Development Bank, Mr. Kevin Kariuki, had led a delegation to pay the Osinbajo a visit on the 21st of October, and expressed the bank’s commitment and support for a just energy transition.”

Laolu quoted the AfDB Vice President, as saying, “First thing I would like to mention is that you have inspired us a lot in the recent past, through your strong and very well-articulated position on the issue of gas as far as Nigeria and Africa is concerned.

“You clearly stated that gas must be seen to be a transitional fuel for Africa, which is a position that our bank also supports because we do understand that Africa needs to increase its energy access, and you can’t increase energy access without utilizing some of the resources and energy sources that we have.”

Osinbajo has, in recent times, advocated for a just transition to global net-zero emissions, particularly calling on multilateral agencies, and western countries to stop the planned defunding of gas projects in developing countries.