Vice President Yemi Osinbajo, says he is the United States (US) to seek support for the Nigeria Energy Transition Plan (NETP) and for the nation’s participation as a G7 climate partnership country.
He said, “I also had the pleasure of meeting US Treasury Secretary J. Yellen, to seek support for Nigeria’s Energy Transition Plan and for Nigeria’s participation as a G7 Climate Partnership Country.”
Mr Osinbajo said he had also met the president of the World Bank, David Malpass who has agreed to support the country by increasing social assistance for the poor and vulnerable.
“We discussed Nigeria’s ETP, our commitment to carbon neutrality, Nigeria’s development alongside our climate ambition, strengthening energy institutions & market, attracting FDIs and exchange rate unification.
“I was pleased to hear the World Bank Group’s readiness to support Nigeria on a few fronts including increasing social assistance for the poor and vulnerable,” the vice president said.
Reacting, the World Bank president said he had a productive meeting Mr Osinbajo on the need for exchange rate unification and stabilization as well as phasing out fuel subsidies to promote the transition plan and climate change in Nigeria.
NETP is anchored on the government’s plan to lift 100 million Nigerians out of poverty in ten years and drive economic growth and bring modern energy services to full the population, is expected to help the country manage the expected long-term job loss in the oil sector due to global decarbonization.
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