AFRICA'S DEVELOPMENT DEPENDS ON ENERGY GENERATION: BUHARI
AFRICA'S DEVELOPMENT DEPENDS ON ENERGY GENERATION: BUHARI

AFRICA'S DEVELOPMENT DEPENDS ON ENERGY GENERATION: BUHARI

The Nigerian-British Chamber of Commerce - AFRICA'S DEVELOPMENT DEPENDS ON ENERGY GENERATION: BUHARI
Power June 10, 2022

Africa, according to President Muhammadu Buhari, requires a massive amount of energy generation to drive its development and strengthen its economy.

The President said this in Abuja yesterday when he opened a three-day Nigeria-African Natural Resource and Energy Investment Summit with the theme "Towards a Greener Africa."

Buhari, who was represented by Minister of Mines and Steel Development Olamilekan Adegbite, explained that the summit was organized to find solutions, exhibit technologies, and promote the development and financing of green energy projects that will help Africa grow and industrialize in a more climate-friendly manner.

"Africa needed a massive quantity of energy generation to drive its development," he added, "even as the globe swings away from fossil fuels and toward clean, renewable energy sources in the fight against climate change." There are numerous obstacles and opportunities for a continent longing for development in the middle of this energy revolution.

"I believe that this should encourage us as a continent of diverse people to collaborate and cooperate more, to initiate innovative solutions to our unique challenges, to develop technologies and products that will lead to Africa's growth and industrialization in a more environmentally friendly manner, and to encourage the development and financing of green energy projects."

"At today's meeting, we'll be able to exchange our perspectives on natural resource and energy market changes. The morning session will also focus on "Maximizing Mineral Potentials and Attracting Private Investments," he added.

"Climate change and its difficulties are a topic that Africa can no longer ignore," stated Minister of State for Foreign Affairs, Amb. Zubairu Dada. To tackle the obstacles, we will need to pool our resources and willpower, and we will need to change our policies to become more environmentally friendly if we are to protect our planet and future.

"It is imperative that the world move away from fossil fuels. Many African oil and gas producing countries, whose economies rely primarily on these commodities, must learn to work together to develop a policy that will mitigate the effects of the world's shift away from fossil fuels while remaining committed to the Paris Agreement."

Alok Gupta, the GMD of the African Industries Group, who was represented by Partha Gosh, also stated that Nigeria's solid minerals and mining sector has a great potential to transform the country's economy to a greater extent and that the sector contributes optimally to the country's GDP from 0.33 percent now to 3 percent in the next five years.

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