Vice President Kashim Shettima disclosed on Friday that funding the nation’s energy transition requires investments of over $10 billion per year up to 2060.
He also revealed that the nation currently has the highest rate of deforestation in the world, as people primarily depend on biomass for energy generation.
According to him, desert encroachment is threatening the livelihood of communities in the North, especially in the Lake Chad Basin, adding that rising sea levels is also threatening coastal cities and communities in the southern part of the country.
Shettima made these remarks at an energy transition symposium themed “Energy Transition in an Oil-Dependent Economy,” organised by Development Agenda Magazine in Abuja.
