President Bola Tinubu emphasized the importance of achieving a fair balance between fossil fuel and green energy in the global energy transition during a meeting with United States Assistant Secretary of State, Geoffrey Praytt, in Abuja on Monday.
Addressing the challenges faced by Nigeria and Africa, Tinubu urged developed nations, including the United States, to consider the persistent issue of poverty while transitioning to clean energy. He highlighted that the energy transition represents only a small portion of global energy requirements and stressed the need to find the right equilibrium between new energy sources and fossil fuels.
Tinubu, who presented Nigeria’s perspective as an oil-producing nation, emphasized the significance of revenue from fossil fuels for the country’s economic growth and development. He assured that Nigeria would fulfill its obligations regarding climate change and the pursuit of clean energy.
Expressing concerns about the poverty challenges in Africa, Tinubu called on the United States to work collaboratively with Nigeria to protect its democratic government. He urged the US government to respond promptly to Nigeria’s needs and not withhold necessary support.
Highlighting the urgency of funding support for Nigeria’s energy diversification, Tinubu called for the removal of bureaucratic obstacles that hinder a swift response from the US government. He emphasized the importance of timely assistance to facilitate Nigeria’s development and integration into the 21st-century economy.
Ambassador Praytt commended Tinubu’s bold economic initiatives, such as the removal of fuel subsidies and the unification of multiple foreign exchange rates. He conveyed President Joe Biden’s support for Nigeria’s efforts to mitigate the impact of fossil fuel and expressed the desire to strengthen US-Nigeria relations.
During the meeting, the President was informed that the US Department of Energy has been engaging with Nigeria’s energy industry on the transition to cleaner energy sources. The US envoy acknowledged the positive role played by Nigeria’s new Special Adviser on Energy and expressed satisfaction with the collaboration between Nigeria and the US in developing the petroleum industry.
President Tinubu concluded the meeting by reiterating Nigeria’s commitment to honor its obligations in combating climate change and promoting renewable energy.