Assessment of Nigeria's Role in the Global Energy Transition d Maintaining Economic Stability

Abstract

Abstract Over the years, immediate action has been required to prevent climate change effects through clean energy. However, this step represents a threat of existence to third-world countries such as Nigeria, which relies heavily on royalties and tax revenues from oil and gas reserves. The Nigerian government is a signatory to the Paris Agreement, but as part of that decarbonization project and the transition to net-zero, issues of gas come up, and we talk of just and equitable transition. It is thus important to consider the various realities of developing economies. This paper discussed Nigeria's role in a fair and balanced global energy transition towards achieving net-zero by 2050, without jeopardizing the lives of millions. In this study, the prospects, and challenges of using natural gas as a driver of sustainability and energy transition to leverage the massive gas potential across the country is also presented to build an economy that can support a sustainable energy future.