Philip Costa Backs Osinbajo’s $410bn Claim On Nigeria’s Energy Transition Plan

Philip Costa Backs Osinbajo’s $410bn Claim On Nigeria’s Energy Transition Plan

Philip Costa, the founder of the Incorporated Trustees of Advocates of Solar Panels Association (ITASPA), a registered Non-governmental Organisation (NGO) in Nigeria, has thrown his weight behind Vice President Yemi Osinbajo on his claim that the country’s energy transition plan would gulp $410 billion.

Osinbajo, who’s leading Nigeria’s Energy Transition Implementation Working Group (ETWG) recently departed Abuja for the United States (US), the home country of Costa, to seek global partnerships and support for the African most populous nation.

Launched last month (August 2022), Nigeria’s Energy Transition Plan is a homegrown, data-backed and multi-pronged strategy developed for the attainment of 2060 net-zero emissions.

According to Osinbajo, the $410 billion would help Nigeria transit from fossil-based systems of energy production and consumption — including oil, natural gas, and coal, to renewable energy sources like wind and solar, as well as lithium-ion batteries.

However, backing the Vice President’s claim and supporting Nigeria’s environmental-friendly energy drive, Costa, who spoke to news publishing platforms, including BizWatch Nigeria, from his New York residence, explained that renewable energy sources would help the country produce electricity that would help the planet by slowing and reversing climate change.

“Renewable energy is the future, and it is green. And considering the fact that the costs of producing solar and wind have reduced in recent times, I believe the wind, solar, and other sustainable energy sources would reduce electricity bills in the country,” he said.

Costa, a former research technician with the United States Department of Agriculture, also revealed that a future powered by solar and other renewable energy sources, would be life-saving.

“It is an open secret that pollution, which is largely from burning fossil fuels, leads to the death of no less than seven million people around the world every year. According to the World Economic Forum, low and middle-income countries record the highest casualties.

“The pollution ranges from exposure to toxic fumes from using wood, coal, or dung as the primary cooking fuel,” he explained.

Talking about the plan of his organisation, the ITASPA founder disclosed that his team is looking forward to installing solar panels in up to 3,000 homes of low-income people in the rural areas of Nigeria. “This, we believe, would help Africa become the continent of light,” he added.

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