For several years, Nigeria has over relied on the prospects of crude oil, as a major source of export and government revenue. Currently, crude oil accounts for 80 per cent of Nigeria’s export, a significant proportion of our foreign exchange earnings and government revenue. The 2024 budget estimates that the oil sector will contribute 42 per cent to government revenue. The government must discourage single-use plastics; it is estimated that Nigeria generates 2.5 million metric tons of plastic waste annually. The big-elephant in the room I reckon is the conversation on financing, Nigeria Energy Transition office, estimates that Nigeria requires $1.9trillion in investment to meet the net-zero target by 2060, which would require a minimum $10bn annually.

Source: The Guardian February 06, 2024 09:50 UTC