Oil and gas giant OandO Plc is set to spearhead a significant shift towards cleaner energy in Nigeria with plans to deploy 5,000 electric commercial vehicles in Lagos State, Group Chief Executive Officer Wale Tinubu announced. This ambitious project, currently in high gear, aligns with the company’s commitment to energy transition while addressing the critical issue of energy poverty in Africa.
Speaking to CNBC Africa on the sidelines of the World Economic Forum, Tinubu emphasized the need for a “just transition” away from fossil fuels, recognizing that Africa, despite contributing only a minuscule three percent of global emissions, bears the brunt of climate change. “Africa cannot afford to abandon its vast energy resources while millions of its citizens lack access to basic electricity,” he stated. “We must utilize our natural gas resources responsibly as a transitional fuel to power our development and improve the lives of our people.”
Tinubu stressed that OandO, as a major player in Nigeria’s energy sector, is actively pursuing “carbon capture techniques” to mitigate the environmental impact of its operations. “We are committed to reducing our carbon footprint,” he explained. “This includes a strong focus on electric vehicles, which we view as a crucial component of our clean energy strategy.”
The planned deployment of 5,000 electric buses in Lagos, a pilot project in collaboration with the state government, represents a significant step towards a more sustainable transportation system in Nigeria. “Transport is a major contributor to global emissions,” Tinubu noted. “By electrifying public transport, we can achieve a substantial reduction in emissions – potentially as much as five percent – almost immediately.”
