Nigeria seeks to collaborate with India to speed up energy transition
NEW DELHI, Feb 11 (Reuters) - Nigeria is seeking to collaborate with India to accelerate its energy transition plans, a senior Nigerian government official said on Tuesday.
Other than funding, Nigeria plans to seek technical assistance from India to implement its green energy plans, Agbu Kefas, governor of Nigeria's Taraba state, told Reuters on the sidelines of the India Energy Week.
"(The) world is moving towards green energy and we also have to move along. But the challenges we have is the funding to be able to meet up with this," Kefas said.
India is ramping up its non-fossil fuel capacity, planning to connect a record 35 gigawatts of solar and wind energy capacity to its grid during the fiscal year ending March 2025.
Nigeria has already urged the United States to provide it with funding to help Africa's leading oil producer accelerate its energy transition plans.
Kefas said alternative energy is also the solution for communities that have been unable to connect to the national grid.
Nigeria's power grid often suffers from frequent failures due to ageing infrastructure, under-investment and vandalism, resulting in frequent blackouts.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
2 hours ago
- Reuters
US military dependents allowed to depart Bahrain due to regional tensions, US official says
WASHINGTON, June 11 (Reuters) - The U.S. military is set to allow families of service members in Bahrain to temporarily depart the country because of heightened tensions in the region, a U.S. official told Reuters on Wednesday. The official was speaking on condition of anonymity.
Reuters
5 hours ago
- Reuters
China puts six-month limit on its ease of rare-earth export licenses, WSJ reports
June 11 (Reuters) - China is putting a six-month limit on rare-earth export licenses for U.S. automakers and manufacturers, The Wall Street Journal reported on Wednesday citing people familiar with the matter.
Reuters
6 hours ago
- Reuters
IMF, Serbia reach staff-level agreement on 36-month deal
BELGRADE, June 11 (Reuters) - The International Monetary Fund (IMF) and Serbia have reached staff-level agreement on the first review under a 36-month arrangement to help support economic reforms, the fund said in a statement on Wednesday. The so-called Policy Coordination Instrument (PCI) was signed in October to make it easier for the Balkan country to secure lending from other sources. Under the arrangement, Serbian authorities are committed to a fiscal deficit limit of 3% of gross domestic product over three years. The review will be subject to approval by the IMF Executive Board, the fund said in the statement which was issued after its two-week trip to Serbia. It also warned that downside risks for the economy were elevated. The IMF said political tensions over anti-government protests and blockades of state universities launched last November "may weigh on confidence". Serbia has seen months of anti-government rallies after 16 deaths from a railway station roof collapse triggered accusations of widespread corruption and negligence. The IMF warned that a global growth slowdown and increasing "geoeconomic fragmentation could negatively affect exports and foreign direct investment". However, it expects Serbia's economy to grow 3% this year and 4% in 2026. "Serbia has built up substantial buffers to respond to shocks — foreign exchange reserves and government deposits are high, public debt is declining, and banks are well-capitalised and liquid," the IMF said.
