President Bola Tinubu has highlighted the urgency for Africa to attract investments in alternative energy for a seamless and equitable transition to cleaner energy sources.
Emphasizing the need for risk management, Tinubu emphasized Africa’s need to benefit from global climate change measures without being adversely affected.
President Tinubu commented while speaking at a panel hosted by the COP28 Presidency and the President of the United Arab Emirates.
He underscored Africa’s pressing requirement for investments in alternative energy to facilitate a comprehensive transition.
He also highlighted the continent’s minimal contribution to global carbon emissions but stressed the disproportionate economic burden Africa bears in adopting cleaner energy sources.
The President stressed the urgency of simultaneously addressing climate change while encouraging investments in critical sectors to leverage Africa’s immense potential in the emerging global green economy.
Tinubu emphasized Nigeria’s and Africa’s readiness to welcome investments, ensuring a conducive economic growth and sustainable environment.
Acknowledging the complexities of transitioning, Tinubu raised pertinent questions about safeguarding Africa’s interests in the changing landscape.
He highlighted the challenge of altering established practices, such as using firewood for cooking, while advocating for investments in solar and alternative energy sources.
Tinubu urged global manufacturers to collaborate with Africa in investing in a healthier environment, recognizing the continent’s unprecedented potential.
He emphasized the importance of risk management strategies, ensuring investments align with Africa’s development goals and limit adverse impacts.
Highlighting Africa’s vast resources, including opportunities in housing electrification and natural resources like iron ore, Tinubu stressed the need for these opportunities to be swiftly translated into tangible developments.
He reiterated the urgency to maximize value from Africa’s resources while driving a sustainable transition to cleaner energy sources.
“Global manufacturers must partner with us to invest in the health of our collective environment. Africa doubles as an unrivalled opportunity in this respect.
“We are removing all obstacles that are inhibiting progress as Africa’s largest economy. The investment environment is becoming cleaner and better,” the President affirmed.
