Nigeria Energy Transition & Investment Plan Update

The Nigeria Energy Transition & Investment Plan (ETIP) Update (2024) provides a strategic roadmap for Nigeria to achieve net-zero emissions by 2060. The plan emphasizes a massive shift toward renewable energy, electric mobility, and clean cooking to address energy poverty and climate goals. It estimates that reaching net-zero will require $500 billion in capital investment above business-as-usual (BAU) levels, which is offset by projected fuel savings of $686 billion.

• Nigeria aims to achieve net-zero emissions by 2060, requiring a total installed power capacity of 277 GW. This transition involves a significant shift in the power mix, with renewable energy technology share increasing from 5% in 2020 to 82% by 2050 (excluding hydrogen).
• The financial requirement to reach net-zero by 2060 is approximately $500 billion USD in capital investment above business-as-usual (BAU) levels. However, this investment is expected to generate $686 billion USD in fuel savings, resulting in a net saving of 8% on total expenditure.
• To support the net-zero transition, Nigeria will need significant energy storage and hydrogen infrastructure, specifically 137 GW of battery energy storage systems (BESS) capacity and 36 GW of hydrogen infrastructure.
• The transport sector is projected to undergo a total transformation, with electric vehicles (EVs) making up at least 80% of the fleet by 2050. All buses are expected to be electric by 2055, and fossil fuel-based cars are projected to be phased out after 2045.
• Nigeria targets universal energy access by 2030, which includes providing electricity to 17.5 million people by 2029 through the World Bank-approved DARES project. This project will deploy 465 MW of power via solar hybrid minigrids, standalone solar systems, and rooftop solar.
• The clean cooking transition focuses on phasing out traditional biomass by 2030. By 2060, 90% of urban households are expected to use electric stoves, while in rural areas, e-stoves are projected to be used by over 50% of households from 2040 onwards.
• Industrial decarbonization will rely on late-stage technology adoption. In cement production, biomass with Carbon Capture and Storage (CCS) is expected to take off only after 2050. In steel production, Hydrogen Direct Reduced Iron (DRI) is projected to replace Gas DRI after 2050.
• The oil and gas sector will see a reduction in emissions, but upstream emissions are expected to remain positive (7.5 MtCO2eq) even in 2060, primarily due to oil production. The plan suggests using the Nigeria Gas Flare Commercialisation Programme (NGFCP) to reduce flaring.
• The transition is expected to have a net positive impact on employment. While 110,000 low-qualified jobs in the oil and gas sector could be lost by 2050, the transition is projected to create 840,000 incremental full-time equivalent jobs across various sectors by 2050.
• Since the launch of the ETP, stakeholders have committed $16.1 billion toward Nigeria's energy transition, with an additional $3.6 billion in donor commitments.

APA

Sustainable Energy for All (2024). Nigeria Energy Transition & Investment Plan Update. https://www.seforall.org/system/files/2025-05/Nigeria-ETIP-u.pdf

Chicago

Sustainable Energy for All. Nigeria Energy Transition & Investment Plan Update. 2024. https://www.seforall.org/system/files/2025-05/Nigeria-ETIP-u.pdf.

Wikipedia

{{cite report |author=Sustainable Energy for All |title=Nigeria Energy Transition & Investment Plan Update |date=November 2024 |url=https://www.seforall.org/system/files/2025-05/Nigeria-ETIP-u.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{sustainableenergyforall2024nigeria, author = {{Sustainable Energy for All}}, title = {{Nigeria Energy Transition \& Investment Plan Update}}, institution = {Sustainable Energy for All}, year = {2024}, month = nov, url = {https://www.seforall.org/system/files/2025-05/Nigeria-ETIP-u.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }