President Bola Tinubu has said Nigeria and Africa urgently require investments in alternative energy to be able to fully and effectively transition.
He said Africa contributes the least to global carbon emissions but bears a disproportionate share of economic burden for transitioning to cleaner energy.
Tinubu spoke during a discussion panel on African Green Industrialization hosted by the COP28 Presidency and the President of the United Arab Emirates, His Highness Sheikh Mohamed bin Zayed Al Nahyan, in Dubai, United Arab Emirates, on Saturday.
He said, “Global manufacturers must partner with us to invest in the health of our collective environment. Africa doubles as an unrivaled opportunity in this respect. We are removing all obstacles that are inhibiting progress as Africa’s largest economy. The investment environment is becoming cleaner and better.
“But how will Africa not be a victim of all these changes? How do we get value for our resources. We all agree that the earth is crying for healing, but how do you tell a grandmother to stop using firewood to prepare her food? It is for me to invest in solar energy, alternative energy.
“Here, you must encourage investment, and equally consider: how would this investment affect us? Yes, we have the market and sufficient housing that you can electrify with solar panels. There is iron ore; there is investment there, too
” Risk management is very key for Africa. The opportunities must be translated soonest. We are moving forward with urgency, and we will maximize the value given in return for those resources.”
COP28: Tinubu canvasses investment in alternative energy for smooth transition
