Nigeria’s Climate Envoy Announce Major Investments for Renewable Energy Manufacturing

From Juliana Taiwo-Obalonye, Abuja

In a significant development for Nigeria’s green economic agenda, the Special Presidential Envoy on Climate Action, Ajuri Ngelale, has announced a series of high-profile investments in the country’s renewable energy sector.

Ngelale revealed that global investment firm Blackstone New Energy has expressed interest in expanding its operations in Nigeria. The company recently opened a 1 million ton per annum (mtpa) capacity Lithium refining plant in Nasarawa State and now seeks to build a facility with tripled capacity in the new Evergreen City, a green industrial zone being developed in the country.

“Investor interest in contributing beneficially to Nigeria’s aggressive move toward value chain localization in renewable energy technology manufacturing is rising globally,” Ngelale stated. “This is the President’s vision – jobs, tax revenues, and inclusive economic growth for Nigerian youth”, he added.

In a related development, Ngelale hosted a virtual meeting with the Chief Executive Officer of the G-7’s Climate Investment Funds (CIF), Tariye Gbadegesin, whose organization oversees assets and pledges of $11 billion and focuses on climate investments in emerging markets.

The two parties discussed Nigeria’s present and future collaboration with the fund as the country embarks on its green industrialization drive.

Ngelale said: “Later on Thursday evening, I hosted a virtual call with the Chief Executive Officer of the G-7’s Climate Investment Funds (CIF), Mrs. Tariye Gbadegesin, which oversees assets and pledges of $11 billion and is focused on climate investments in emerging markets. We held an elaborate discussion on Nigeria’s present and future collaboration with the Fund as we embark on our green industrialization drive.”