President, Muhammadu Buhari, says Africa requires huge amount of energy generation to drive its development, as the world is combating against climate change.
Buhari, represented by Mr Olamilekan Adegbite, Minister of Mines and Steel Development made this known at a three day, Nigeria-Africa Natural Resources and Energy Investment Summit on Wednesday in Abuja.
The theme of the summit is ” Towards a Greener Africa”.
According to him, Africa is required to have huge energy generation because the world is shifting away from fossil fuel to clean and renewable energy sources to drive its development.
He said in the midst of this energy transition lies many challenges and opportunities for a continent yearning for development.
“I am delighted to see various African nationals gathering here today to deliberate and create a framework within which future cooperation and collaboration can take place.
“Today’s convention is indeed important; I believe this will spur us as a continent of diverse people to co-operate and collaborate more, initiate innovative solutions to the challenges that are peculiar to us.
“We should come up with technologies and products that will lead to the growth and industrialisation of Africa in a more environment friendly manner while encouraging the development and financing of green energy projects.
“Our meeting today provides the opportunity to share views on natural resources and energy market developments.
“As I welcome you all, I will like to state a Declaration of Cooperation that participating countries should strengthen their cooperation, through joint assessment and viewpoints, with the aim to financing sustainable African Natural Resources and Energy Projects.
“We should strengthen cooperation that are key to the transition for the benefit of producers and consumers and to regularly review at technical and ministerial levels the status of our cooperation.”
“Our joint meetings and activities will support us in formulating favorable policy and strategy development for the natural resource sector as the world looks towards a greener future.
“A policy that is less subject to extremes, both today and in the future; We must strive to remain committed to our joint statements in the Declaration of Cooperation and ensure continuity.”
Earlier, Adegbite said that the summit would convene the African mining, finance, power and energy, oil and gas sectors to chart a way forward for the development of natural resources and energy projects in a sustainable and climate friendly manner.
According to him, the world is focusing on discovering and utilising clean sources of energy to cut down carbon emission to protect the world from further climate change.
“This summit was initiated to discover solutions, exhibit technologies and products that will lead to the growth and industrialisation of Africa in a more climate friendly manner while encouraging the development and financing of green energy projects.
