Nigeria strives for net-zero by 2060
Nigerian president Muhammadu Buhari announced late on November 2 at COP26 that the country would aim to reach net-zero emissions by 2060, but said natural gas development would play a key role in reaching that goal.
No one in Nigeria needs convincing of the need for urgent action on climate change, the leader said.
"Desertification in the North, floods in the centre, pollution and erosion on the coast are enough evidence," he said. "For Nigeria, climate change is not about the perils of tomorrow, but what is happening today. Nigeria is committed to net zero by 2060."
Buhari said Nigeria was investing in renewables, including hydropower dams and solar projects, and was seeking partners to drive innovation and technology and secure financing for "a stable energy transition." He stressed the need for investment in transition fuels, such as gas.
"Our transition plan highlights the key role that gas will play in transitioning our economy across sectors," he said. "And the data and evidence shows that Nigeria can continue to use gas until 2040 without distracting from the goals of the Paris Agreement."
Nigeria is eager to develop more of its estimated 5.5 trillion m3 of proven gas reserves to drive economic growth and cut emissions by replacing dirtier fuels in areas such as power generation, transport and household cooking. Buhari in August signed a long-awaited new petroleum industry bill into law, aimed at spurring investment in gas exploration and production.