President Muhammadu Buhari has said that Africa needs to join the rest of the world in the shift from fossil fuel to renewable energy sources.
In his keynote address at the ‘Nigeria-Africa Natural Resources and Energy Investment Summit’, a three-day Summit organised by the Nigerian Content Development Management Board (NCDMB), Buhari said Africa requires a huge amount of energy generation to drive its development.
President Buhari who was represented by the minister of mines and steel development, Arc Olamilekan Adegbite, said, “Today’s convention is indeed important. 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 industrialization of Africa in a more environment friendly manner while encouraging 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.”
The President urged the discussants at the summit, with the theme: with the theme ‘Towards a Greener Africa’, to digest the opportunities within the Nigerian mining sector, the underexplored minerals which are key to clean renewable energy, the success stories and the strides towards driving Foreign Direct Investment (FDI) into the Sector.
“Participating countries in the Declaration of Cooperation would strengthen their cooperation, through joint assessment and viewpoints, with the aim to financing sustainable African Natural Resources and Energy Projects that are key to the transition, for the benefit of producers and consumers and to regularly review at technical and ministerial levels the status of our cooperation,” Buhari said.
He further assured that sectoral joint meetings and activities will support his administration in formulating favorable policy and strategy development for the natural resource sector as the world looks towards a greener future.
“A policy that is less subject to extremes, both today and in the future,” he said.
By Chibisi Ohakah and Sunday Elom
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