Plan, 2022
Nigeria Energy Transition Plan
Nigeria’s roadmap to universal energy access by 2030 and a carbon-neutral energy system by 2060.
- Net-zero target year for the energy system
- 2060
- Net-zero target year for the energy system
- Estimated investment needed to reach net zero
- $410bn
- Estimated investment needed to reach net zero
- Additional investment needed every year
- $10bn+
- Additional investment needed every year
- Sectors: power, cooking, oil and gas, transport, industry
- 5
- Sectors: power, cooking, oil and gas, transport, industry
The Federal Government launched the Energy Transition Plan in August 2022. It sets out how Nigeria can deliver universal energy access by 2030 while decarbonising its energy system to net zero by 2060, without sacrificing growth.
The plan works sector by sector — power, cooking, oil and gas, transport and industry — and treats natural gas as a transition fuel while solar and other renewables scale up. It estimates a total investment requirement of about $410 billion to 2060, or at least $10 billion a year above business as usual.
At its launch, the World Bank and the US Export–Import Bank (through Sun Africa) announced roughly $3 billion in support.
What it sets out to do
- Universal access to electricity and clean cooking by 2030
- Net-zero emissions from the energy sector by 2060
- Gas as the bridge fuel for power, cooking and industry in the medium term
- Large-scale deployment of solar, including distributed systems and mini-grids
The CEII view
The plan is credible on direction and clear on the size of the bill. The binding constraint is capital: closing a financing gap of over $10 billion a year requires bankable projects, reliable revenue in the power sector and investment vehicles that domestic and international capital trust.
Centre for Energy Investment and Innovation