Oando, one of Nigeria’s leading indigenous energy solution providers, affirmed its continuous effort to support and contribute largely towards achieving Nigeria’s Energy Transition Plan (ETP) roadmap, which is purported to be its homegrown, data-backed and multi-pronged strategy to attain net zero emissions by 2060. Mr. Ademola Ogunbanjo, Executive Vice President of Oando Clean Energy (OCEL), a renewable energy subsidiary of Oando PLC, highlighted that the company’s strategic priority is in line with the Nigeria Energy Transition Plan.
Mr. Ademola went on to say that the focus is mainly on supporting the government’s developmental roadmap, which is the implementation of Electric Vehicles (EVs) across the country, as well as the medium-term strategic goal of enhancing local capacity through the construction of an EV assembly and manufacturing plant. He stated that in order to drive the country’s net-zero roadmap, not only the government and public sector should work together, but also the private sector.
OCEL co-hosted two side events at the COP27 event.
The company notes that the recently concluded 27th United Nations Climate Change Conference of the Parties (COP27), themed ‘delivering for the people and the globe,’ is a phenomenal subject to demonstrate nations’ efforts to preserve the globe. At the COP27 event, OCEL, part of the Nigerian delegation, organized two side events at the Nigeria Pavilion. The first side event, titled “Decarbonizing an Oil-rich Region: A Case for the Niger Delta,” was co-hosted by the Ministry of Niger Delta Affairs, the National Council on Climate Change, REAN, and Stratus Limited.
Mr. Ogunbanjo spoke on OCEL’s attempt to decarbonize the Niger Delta region through sustainable transportation. The second parallel event was co-hosted by the Federal Ministry of Environment and the private sector under the theme “Achieving Nigeria’s Net Zero Target: A Public-Private Partnership” (PPP). It underscored the need for public-private partnerships, climate funding, and an enabling business environment. This further emphasizes the company’s pipeline endeavor to help Nigeria reach its goal of zero emissions by 2060.
The near future will be a world with less dependence on oil.
Panelists at the event include Dr. Ainojie Irune, President & CEO of OCEL, Mr. Omofaiye Victor Adewale, Commissioner for Environment of Kogi State, and Dr. Nnaemeka Ewelukwa, Managing Director/Chief Executive Officer of the Nigerian Bulk Electricity Trading (NBET). Dr. Irune discussed the company’s sustainable transportation strategy on the panel, arguing that it would serve as a springboard for private users to begin migrating to EVs and, in the long run, contribute to economies of scale throughout the country.
Furthermore, Dr. Irune argues that the near future will be a world with significantly less dependence on oil, fortifying net zero prospects utilizing gas and renewable energy sources. In the meantime, a recent development has seen OCEL partner with the Lagos state government to build electric mass vehicles, charging infrastructure, and service facilities (EV Infrastructure Ecosystem). Globally, more regulations are favoring electric automotive production. According to a report, by 2035, the US, EU, and China are predicted to sell solely Electric Vehicles (EVs), and by 2050, 80% of global vehicle sales will be electric.
Private sector has contributed in response to climate change.
Ultimately, Dr. Salisu Dahiru, the pioneer Director-General of the National Council on Climate Change (NCCC), stressed the significant place of OCEL’s pipeline projects. Before NCC was conceived, he said, the private sector had already adopted several initiatives and adaptation programs in response to climate change. Dr. Dahiru argues that there is a need to create an enabling environment conducive to the timely and cost-effective implementation of long-term sustainable energy projects in order to enclose the gap between public policy and private sector initiative.
Related Link
Oando: Website
