International Day of Clean Energy: Experts canvass for just, inclusive transition


International Day of Clean Energy: Experts canvass for just, inclusive transition

 

Success Nwogu

Experts have said that just and inclusive transition is imperative for Nigeria and other African countries.

They spoke on Tuesday during a webinar with the theme: “Interrogating Just & Inclusive Energy Transition for Africa” organized by OTL, Africa Downstream, to mark the International Day of Clean Energy, according to a statement on Wednesday.

The experts are: Chief Executive Officer, OTL, Africa Downstream, Mrs. Joyce Akabogu; Investment Professional, Siemens Energy Ventures, Adedoyin Pearse; Country Manager, VITOL, Chibuzor Ifeanyi; Chief Executive Officer, Guuru Energy, Kenya, Ogutu Okudo and Managing Director of Afri-Inspect, Ian Brown.

Akabogu said the theme of the webinar: “Interrogating Just & Inclusive Energy Transition for Africa,” was topical and timely.

She also expressed delight over the $5billion Africa Energy Bank.

Akabogu, who was the moderator of the session, called for greater collaborative efforts of stakeholders to address climate issues and meet the energy goals of Nigeria and the continent.

She said: “We have recently witnessed the birth of the African Energy Bank with an objective to contribute to universal access to energy in Africa while simultaneously managing the global transitions to alternative energy sources. This year will mark the international year for clean energy amidst surging investment and consumption.”

Investment Professional, Siemens Energy Ventures, Adedoyin Pearse, recalled that $200 billion annually was required for Nigeria and other African countries to be close to the universal energy target.

 

She said that there is the need for a human face on energy transition and decried electricity access poverty in Africa.

 

She said: “When we talk about a just and inclusive transition, particularly within the context of Africa, it is about transiting in an equitable, in a fair manner and in a manner where nobody is left out considering the nuisance of the African context. Africa, we are the least contributing to the global carbon emissions. We account for just about 3.4% globally. Second, our electrification rate is very high. Energy poverty is very high and bearing that background, we are not just going to wake up one morning and switch over. We also have fast resources of fossil fuel. We have gas, we have mineral resources, hydrocarbons in vast numbers. Are we going to ignore those and say we are transiting today and forget about all those?

 

“So the whole concept of the just transition is hinged on that, considering your local nuisances and that as you are transiting, no one is also excluded.

 

“Everyone must have access to electricity. It is sad to see in parts of Africa, even in Nigeria today, some communities are not even connected to the grid or they do not even have any power. So it is about universal access. Whatever that has to be done, we need to ensure that universal energy access is considered. We need to consider communities and marginalized or vulnerable people as well. We need to consider job changes. We need to ensure that everybody is carried along as we are transiting.”

 

She added: “For the African continent, there is a whole lot of paradox. We are the least contributor to global energy emissions yet we have vast renewable energy resources. Is it solar, hydro, wind, we do have them. We are also rich in fossil fuel as well. But at the same time we lack infrastructure. In terms of industrialization, we are not wherever we are supposed to be. At the same time, we lack energy access.

 

“We need to take care of energy security. The global North who are pushing this agenda have almost 100 % and a lot of their infrastructure was actually developed based on revenues from export from crude oil.

 

“For Africa, it looks like at what costs are we going to transition? We also need to take care of energy security. In Texas, for example, when they do have storms, there are times so e powers actually go off and they do not have power. In those situations, we see them switch off to diesel.

 

“Because of the Russian and Ukraine we saw Germany switch to coal, to nuclear sources. These are actually the debates that if the western or the global North in certain situations are able switch, why would Africa then have to abandon their fossil resources which account for their Gross Domestic Product (GDP) and then what happens to energy access? It is going to take a lot of time and and years to invest in infrastructure to make renewable energy accessible.

 

“A lot of countries in Africa, Nigeria inclusive, have developed their energy transition plan and when they want to achieve almost zero carbon emissions.

 

“Financing is very important. According to the International Energy Agency (IEA), annual investment of close to $200 billion has to be made annually for us to even be close to the universal energy target we set for ourselves. A whole lot of finance is required which the continent currently lacks.

 

“I am in the venture capital. I can tell you that in the last three years, we have seen massive investment, or massive green investment or investment in clean energy.”

Country Manager, VITOL, Chibuzor Ifeanyi, has said that Nigeria and other African countries only get $35 billion annually out of the $200 billion annual requirement to aid the continent’s energy and climate-related goals.

He decried that this is grossly inadequate.

Ifeanyi said: “Essentially the trend that has been seen over the 10 to 15 years, looks at a mix of public and private financing. Public financing here refers to government backed financing. Private financing are those foreign direct investment (FDIs) who go for green and brown field projects. A combination of these gives about $35 billion to the continent on an annual basis.

“Doyin mentioned $200 billion that is required. You can see that the shortfall is quite significant. Do not forget that financing does not need to be cash, it can be concessions, commercial Capital, insurance, guarantees of some sorts that basically try to attract investments and de-risk these projects themselves.

“The general outlook basically is: You have G 20 nations led by China, you have the European countries, France, Italy, the US, Russia, UK, Japan and surprisingly India. These are the main countries that attract financing and send financing to Africa, in addition to the main group such as the World Bank who takes the lead and African Development Bank, etc.”

 

Chief Executive Officer, Guuru Energy, Kenya, Ogutu Okudo, speaking on the role of regional cooperation in Africa’s energy transition opined that while cross-border collaboration has shown promise in some regions, there are still significant barriers that impede the process.

 

She said: “In East Africa, we’ve seen some success with countries like Kenya, Uganda, and Rwanda connecting their national grids. This regional cooperation has been invaluable. For example, when Kenya has faced national power outages, we’ve been able to rely on neighboring Uganda to supply power. This interconnectedness is critical for the future of Africa.”

 

“There are challenges with cross-border integration, especially when it comes to aligning national grids and energy policies. But the need for interconnectivity is clear. It is essential not only for providing stable power but also for promoting economic growth and job creation across the continent.”

 

“We are seeing a rise in energy consumption, and by 2035, 95% of the world’s energy demand increase will come from newly industrialized countries, with Africa being one of the major contributors.”

 

Managing Director of Afri-Inspect, Ian Brown, said that despite that Africa has vast natural resources, it stands at a crossroads in terms of economic growth, sustainability, and its contribution to the cleaner, greener future the world envisaged.

 

He said: “Thirty percent of the world’s critical minerals—vital for the energy transition—are found right here in Africa. These critical minerals, which include rare earth elements like cobalt, nickel, and lithium, are essential for the production of clean energy technologies. From wind turbines to electric vehicles, these minerals are key to reducing global carbon emissions and achieving the goals of the Paris Agreement. However, Africa’s resources have been historically underutilized or exploited, and it is time for the continent to take control of its own economic future.

“We are talking about rare earths, cobalt, and nickel—all of which are critical for the energy transition. Yet Africa has been a net exporter of these minerals for decades, with little benefit to the local economy. This isn’t about exploitation, but about empowering the continent to capture the value that its natural resources can generate.”


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