The United Nations has announced the launch of a new initiative to support the extraction and processing of energy transition minerals in Nigeria. The scheme, which is being implemented in partnership with five other countries, is part of the UN’s broader efforts to accelerate the global transition towards renewable energy sources.
According to reports in TheCable, the new initiative aims to address the challenges faced by developing countries in accessing the resources needed to transition away from fossil fuels. The scheme will provide technical assistance and financing to support the sustainable extraction of key minerals such as lithium, cobalt, and nickel.
In a statement, the UN’s Under-Secretary-General for Economic and Social Affairs, Liu Zhenmin, emphasized the importance of the scheme in supporting developing countries’ efforts to transition to a low-carbon economy. He noted that the initiative would not only help to reduce greenhouse gas emissions but also create new economic opportunities and jobs.
The five other countries participating in the UN’s energy transition minerals scheme are Argentina, Chile, Congo, Ghana, and Zambia. It is unclear when the scheme will begin operating in Nigeria or how much funding it will receive.
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