Side event 14.3: Nigeria-Finland Roundtable on Sustainable Energy Transition, Innovation & Partnership

Date: Thursday 14th March 2024
Time: 17.00-19.00
Venue: Conference Centre, Scandic Vaasa
Organizers: Embassy of Nigeria, Stockholm Sweden, Vaasa University of Applied Sciences, Nigerian – Finnish Association.

Welcome to join the round table discussions on information of energy business in Nigeria. In addition, the discussions would provide you with the knowledge of understanding the challenges and opportunities of doing business in Nigeria.

Program:

17.00-17.15 Registration and Networking
Chairman: Marja Riitta Vest, Director, Research, Development and Innovation& Business Services, Vaasa University of Applied Sciences

17.15-17.30 Opening Remarks
Atinuke Adeyemi, Head of Chancery, Embassy of Nigeria

17.30-17.45 Energy Trends in Finland and Nigeria
Dr. Adebayo Agbejule (Vaasa University of Applied Sciences, VAMK)

17.45-18.00 The Energy Transition Plan, Future Opportunity – a stakeholder’s perspective
John Owolabi, CEO, Gowus Nigeria Limited

18.00-18.15 Case Nigeria
Signext Energy Limited – Lekan Ajisafe CEO
Brains & Hammers Limited


18.15-18.30 We ask in advance for 1-2 short comments from the Finnish participants

18.30-18.40 Goodwill Messages
Hon. Commissioner for Energy & Mineral Resources, Lagos State (tbc)
Hon. Commissioner for Energy Oyo State (tbc)

18.40-19.00 Questions, Discussions and Closing Remarks
Dr. Adebayo Agbejule, Vaasa University of Applied Sciences

Please, register by e-mail to Loviisa Mäki-Julku (Loviisa. maki-julku@vamk.fi) by 11th March 2024. Please inform allergies at the same time. We hope that you will be able to join this event to provide you with the different opportunities in doing energy business in Nigeria. The participation is free of charge, and seminar is Embassy of Nigeria, Stockholm Sweden, Vaasa University of Applied Sciences (VAMK), Nigerian – Finnish Association, and Energy Vaasa.

Preamble

Nigeria has the biggest population and economy in Africa, with a population of over 223 million (UNFPA estimate). It’s predicted to double in size by 2050 (UN Report).

Nigeria’s rapidly growing population is the underlying driver of its rising energy demand, expanding agriculture, and increasing urbanization – the results of which are causing environmental destruction. Nigeria’s economy is predominantly built upon oil and gas exports, profits from fossil fuels accounting for 93% of Nigeria’s export revenue. The bulk of Nigeria’s emissions are from oil and gas production. Nigeria currently has one of the highest rates of energy poverty in the world.

In 2022, Nigeria announced its Energy Transition Plan, its plan to reach net-zero emissions by 2060. Under the plan, Nigeria has set targets to eliminate gas flaring by 2030, the most ambitious decarbonization targets in Africa. The country seeks to take the lead in climate action and aims to achieve carbon neutrality by 2060 whilst also meeting the nation’s growing energy needs and offer universal access to electricity to its population. Nigeria has also established a “30-30-30” target, which aims to reach 30 GW of grid-connected capacity with at least 30% of renewable capacity by 2030.

A Renewable Energy Roadmap was produced with the International Renewable Energy Agency and the Energy Commission of Nigeria in January 2023 that “encompasses all key sectors of the Nigerian energy system to provide additional context for energy policy discussions on how increased ambition in terms of renewable energy – beyond current government policy and targets – can be realized. Nigeria’s energy transition creates significant opportunities for partnership, co-creation and investments including establishing and expanding industries for solar, hydrogen and electric vehicles, and using its vast natural gas resources for economic development.

The Nigeria- Finland Roundtable on Energy Transition Innovation and Partnership seeks to provide opportunity to brainstorm, share knowledge and best practices whilst proffering concrete solutions towards achieving the energy transition co-creating pathway for sustainable energy development, learning from Finland´s successful models of energy resilience.

The event brings together experts, policymakers, researchers, energy companies and sustainable energy enthusiasts from both countries to explore how Africa´s largest population can scale up climate friendly solutions for its energy needs and how it can serve as a model for sustainable energy transition.

The roundtable on the sideline of the Energy week Vaasa will also leverage on wide ranging discussion, megatrends in the energy sector for potential short, medium and long term partnership in between Nigeria, Finland and the rest of the world.

Expected Outcome:


The roundtable will avail concrete solutions, ideas and research themes from participants for consideration and execution through joint venture project and research collaboration.