Nigeria intends to conditionally reduce its greenhouse gas (GHG) emissions by at least 47% by 2030. The country’s nationally determined contributions (NDCs) under the Paris Agreement include: ensuring that 30% of on-grid electricity and 13 gigawatts of off-grid energy is derived from renewable sources; achieving zero gas flaring by 2030; and reducing fugitive emissions from oil and gas production by 60% by 2031. Implementation of the NDCs is projected to cost USD 177 billion. Nigeria is currently working towards implementing a carbon tax and intends to develop its critical mineral reserves to serve the projected increase in global demand.
Nigeria’s climate change goals will have a large impact on production practices. To achieve these targets, data and multi-stakeholder dialogue will be key to inform sustainable transition pathways and monitor climate commitments.
Disclosures and dialogue facilitated by the EITI can serve as an entry point to inform debate and policy making related to Nigeria’s climate targets. EITI data-driven forecasting can help to address the economic implications of the energy transition and provide evidence for policymakers to manage risks and leverage opportunities.