Nigeria’s Partnership With South Korea Will Reduce Greenhouse Gas Emissions, Drive Investment— Power Minister

Adebayo Adelabu Nigeria’s Minister for Power, has said that the country’s energy collaboration with South Korea will drive investment in the sector while enabling energy security.

Adelabu announced this on his official X page on Wednesday, while attending the ongoing Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference 2023 currently being held in Busan, Korea.

He said the energy summit will address key energy challenges, promote sustainable development, attract investment, foster knowledge sharing, and support the clean energy transition in Africa.

“I am currently attending the Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference 2023 being held in Busan, Korea. The theme of the Conference is “Just Energy Transition and Agricultural Transformation in Africa” jointly organized by KOAFEC and AfDB (Africa Development Bank)” he tweeted.

According to him, the KOAFEC 2023 Ministerial Conference on Energy is important as it facilitates dialogue, cooperation, and partnerships between South Korea and African countries in various sectors including the energy sector.

He said the event will address key energy challenges, promote sustainable development, attract investment, foster knowledge sharing, and support the clean energy transition in Africa.

He said, “The conference provides an opportunity for policymakers, ministers, and representatives from both regions to discuss and address key challenges and opportunities related to energy development and sustainability.”

The power minister also highlighted key areas in Nigeria that can be improved from the energy summit.

He said, “Energy Security which allows participants to address issues related to energy security, including diversification of energy sources, reducing dependency on fossil fuels, and promoting renewable energy. This will enable us to explore partnerships and strategies to enhance our energy security and reduce vulnerability to price fluctuations and supply disruptions.

“Energy plays a vital role in achieving sustainable development goals, such as poverty reduction, improved healthcare, education, and economic growth. The conference provides a platform to discuss sustainable energy solutions, including renewable energy technologies, energy efficiency measures, and clean cooking solutions, which can contribute to our sustainable development agenda.

“The conference also serves as a platform for promoting investment opportunities in the energy sector. This can result in increased foreign direct investment, job creation, and technology transfer in the energy sector.

“We will explore collaborations with South Korea to adopt low-carbon technologies, promote renewable energy deployment, and develop sustainable energy policies. This will contribute to reducing greenhouse gas emissions and promote climate resilience.”