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Home News Business & Economy

Nigeria restates commitment to a just, inclusive beneficial energy transition

Adopts National Energy Transition Policy to Deepen Subnational Engagement

Mediatracnet by Mediatracnet
May 8, 2025
in Business & Economy, Energy Transition & Global Environment, News
0
No state govt. funded 2018 budget with own revenue, says NEITI

NEITI

The Federal Government on Wednesday restated Nigeria’s commitment to the pursuit of a just, inclusive, and beneficial energy transition programme.

The Secretary to the Government of the Federation (SGF) and Chairman of the Nigeria Extractive Industries Transparency Initiative (NEITI) National Stakeholders’ Working Group (NSWG), also known as NEITI Board, Senator George Akume, who stated this also announced the adoption of the National Energy Transition Policy for the country.

Akume stated this in his address while declaring open the weeklong NEITI NSWG Strategic Retreat and Board Meeting in Umuahia, Abia State, as part of efforts by the transparency agency to review its national strategy on energy transition, strengthen institutional reforms, and deepen partnerships with subnational governments on natural resource governance and domestic revenue mobilization.

The Retreat, which is supported by the Ford Foundation, provides the forum for members of the NEITI NSWG and Senior Management Team to come together to deliberate on the ongoing NEITI research study on the impact of energy transition on Nigeria’s economy, as well as review policy implementation and strategic alignment under NEITI’s Five-Year Strategic Plan.

The SGF underscored the importance of a measured, evidence-based approach to energy transition that balances the urgent global shift with national development priorities—particularly revenue protection, job retention, energy security, gender equity, and citizen-focused development.

“Nigeria, through the President Bola Ahmed Tinubu’s administration, has embraced the National Energy Transition Policy as a strategic blueprint for a cleaner, greener, and more resilient energy future. Our goal is to achieve net-zero emissions by 2060 without leaving anyone behind—especially our rural and vulnerable communities,” the SGF stated.

In his welcome address to the NEITI delegation, Abia State Governor, Dr. Alex Otti, described the retreat as a significant vote of confidence in the state’s emerging role as a hub for reform-oriented governance and development partnerships.

He expressed deep appreciation to NEITI for the confidence reposed in his administration by choosing Umuahia to host the high-level national engagement.

Dr. Otti said that while Nigeria was yet to fully realize the benefits of its abundant natural resource endowment, the current tide was turning towards efforts to ensure these resources generate value for the people.

“Poverty and wealth are often a function of how natural resources are harnessed and distributed. Where extractives are exploited responsibly and revenue is transparently and equitably applied, prosperity follows.

NEITI has emerged as one of the key institutions working to correct past wrongs and institutionalize transparency and accountability in Nigeria’s resource governance,” Otti said.

He lauded NEITI’s pioneering efforts in driving reforms and promoting credible data disclosures, adding that Abia State was prepared to align with NEITI’s standards to promote the equitable distribution of the benefits from the exploitation of these natural resources to the people.

The Governor cited deliberate efforts by the state government to participate in the development and exploitation of the energy resources residing in its domain through the establishment of ABTAN Energy Ltd, a joint venture between the Abia State Government, the Petroleum Technology Association of Nigeria (PETAN), and private investors, to responsibly manage oil and gas assets in the country.

He promised that the operations of ABTAN would fully integrate NEITI’s transparency reporting framework to ensure no stakeholder, especially host communities, was left behind.

The Governor also highlighted Abia state government’s efforts in preparing for the future of energy, including the installation of thousands of solar-powered streetlights to extend economic activity and improve public safety; training of hundreds of young people in solar installation and renewable energy systems, and ongoing development of a 10,000 barrels per day modular refinery as well as an Industrial and Innovation Park in Ukwa West of the state.
Also, he said the state government was evaluating private sector proposals to explore key solid minerals found in the state, such as kaolin, limestone, and granite.

He urged NEITI to support Abia State and other bsubnational governments in building transparent, value-driven ecosystems, while also advocating for a fair compensation model for communities hosting natural resource deposits.

“As a State, we are steadily preparing for the new energy order. NEITI must remain central to the unfolding dynamics, by setting pro-Nigeria systems for reporting and ensuring industry accountability,” he said.

The Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, said the retreat was a serious working session convened at a time of major global shifts to enable members of the Board and other Senior Management Team mainstream transparency and accountability into the energy transition agenda.

“The world is moving rapidly from fossil fuels to low-carbon alternatives. For Nigeria, this transition presents complex fiscal, social, and structural challenges—but also unique opportunities to diversify our economy and build resilience.

That’s why NEITI, under NSWG guidance, commissioned a national study to inform policy with credible data,” Orji said.

Besides, he said the retreat would provide participants the opportunity to review NEITI’s strategic priorities and operational plans, while forging new pathways for collaboration with state governments and other subnational governments on extractive industry issues, particularly those bordering on extractive governance and tax transparency.

Also, speaking at the event, Regional Director for Africa at the EITI International Secretariat in Oslo, Norway, Mr. Gilbert Makore, praised NEITI’s consistency in publishing timely and credible data on Nigeria’s extractive industries.

“NEITI’s work is fully aligned with EITI’s mission to promote transparency, reduce poverty, and support national development through impactful reforms. Nigeria remains a global leader in EITI implementation,” Makore noted.

The representative of the civil society of the NEITI Board, Dr. Erisa Danladi Sarki, reiterated the sector’s commitment to ensuring that the energy transition was just, inclusive, and people-centered, especially for women, youth, and marginalized groups in the country.

The Retreat, which is scheduled to continue through the week, would culminate in a formal meeting of the NEITI National Stakeholders’ Working Group (NSWG) on Friday, May 9, to adopt key resolutions and strategic decisions.

Tags: Energy TransitionGlobal EITINational Stakeholders Working Group (NSWG)NigeriaNigeria Extractive Industries Transparency Initiative (NEITI)
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