The company urges private-public collaboration to boost the net-zero plan.
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
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The gesture from OANDO pls towards energy renew and conservation in Nigeria is very good because the climate change problem is a very serious issue which affect living and non living things and drastic action need to be taken to curb it.
I hope this energy transitional plan is operative. We need to start working on our energy sector seamlessly and timely. The necessary agencies should begin to work together for a common goal.
Energy Transition plan been supported by Oando is a good idea and it will help boost private public partnership in order to help with climate change.
In order to bridge the gap between public policy and private sector initiative, it is necessary to develop a climate that is supportive of the timely and economical implementation of long-term sustainable energy projects.
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The private sector should collaborate with the public sector and the government in order to advance the net-zero plan for the country.
The nationwide and the intermediate-term strategic objective of increasing regional capability by building an electric vehicle assembly and manufacturing plant
The partnership of private, public and government on net zero plan will be a positive thing we need to start working on the energy project to help the change of climate
An environment conducive to the timely and cost-effective execution of long-term sustainable energy projects must be developed in order to close the gap between governmental policy and private sector initiative.
This highlights the company’s pipeline effort even further to assist Nigeria in achieving its target of zero emissionsinn
The long-term strategic goal of establishing an electric vehicle assembly and production facility in the region.
A climate conducive to the timely and cost-effective implementation of long-term sustainable energy projects must be developed to close the gap between governmental policy and private sector initiative.
This brings even more attention to the company’s pipeline endeavor, which is aimed at assisting Nigeria in accomplishing its goal of having zero emissions.
It would act as a stepping stone for private users to start their transition to electric vehicles and, in the long run, it would contribute to economies of scale across the country.
I like how recent events have resulted in OCEL forming a partnership with the government of Lagos state in order to construct electric mass transportation vehicles, charging infrastructure, and service facilities.
I pray that the energy transition strategy is successful. If we want to get our energy sector up and running smoothly and on time, we need to go to work right away. The appropriate organizations need to start cooperating toward a single aim.
To bridge the gap between public policy and private sector initiative, an environment that supports the timely and cost-effective execution of long-term sustainable energy projects must be created.
The necessary agencies should begin to work together for a common goal. And the need to start working on our energy sector is advised.
The company urges private-public collaboration to boost the net-zero plan. This is a welcome development for Ondo state.