The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Orji Ogbonnaya Orji, said Nigeria will require substantial investments in the coming years to achieve its energy transition targets.
Speaking in Abuja on Wednesday during a visit from the Ambassador of Belgium, Pieter Leenknegt, the High Commissioner of Australia, Leilani Bin-Juda, and the High Commissioner of Canada, Jamie Christoff, Orji underscored the critical need for investment, particularly given Nigeria’s continued dependence on the oil and gas sector.
Orji pointed out that the nation’s vast hydrocarbon resources present a complex challenge, especially as the global economy shifts towards cleaner energy sources.
With the federal government’s decision to adopt natural gas as a transition fuel, Orji highlighted that approximately $20 billion in annual investments would be required over the next decade to develop the necessary gas infrastructure.
