President Muhammadu Buhari has said that Africa requires a huge amount of energy generation to drive its development and boost economy.
The President stated this, yesterday, in Abuja, while declaring open 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 initiated to discover solutions, exhibit technologies and products that will lead to the growth and industrialisation of Africa in a more climate-friendly manner while also encouraging the development and financing of green energy projects.
He said: “Africa requires a huge amount of energy generation to drive its development, even as the world shifts away from fossil fuel to clean and renewable energy sources, in the fight against climate change. In the midst of this energy transition lies many challenges and opportunities for a continent yearning for development.
“I believe this should spur us as a continent of diverse people to co-operate and collaborate more, initiate innovative solutions to the challenges that are peculiar to us, come up with technologies and products that will lead to the growth and industrialisation of Africa in a more environment friendly manner, while also encourage the development and financing of green energy projects.
“Our meeting today provides the opportunity to share views on natural resources and energy market developments. Additionally, the morning session will focus on Maximizing Mineral Potentials and Attracting Private Investments,” he said.
In his remarks, Minister of State for Foreign Affairs, Amb. Zubairu Dada, said, “The climate change and its challenges are an issue that Africa can no longer ignore. The challenges require our collective efforts and resolve to overcome them and there is a need to adjust our policies to become greener if we are to safeguard our planet and future.
“For the world to move away from fossil fuels. Many African oil and gas producing nations whose economies are dependent solely on these commodities must learn to come together to chart a strategy that will push the effects of the world moving away from fossil fuel while at the same time maintaining their commitment to the Paris Agreement”.
Also, the GMD, African Industries Group, Alok Gupta, who was represented by Partha Gosh, noted that the Nigeria’s solid minerals and mining sector has a great potential to transform the nation’s economy to greater extent, and the sector contributes optimally to the country’s GDP from 0.33% currently to 3% in the next five years.