COP28: Oil giant, Oando to roll out 12,000 electric buses, boosts FG transportation plans

By Samuel Ogunsona reporting from Dubai

Oil giant, Oando is set to release 12,000 electric buses to boost Federal Government’s transport economy.

The project is part of the efforts to achieve the net zero agenda in Nigeria by 2060.

This was contained in a statement by Oando clean energy Chief Executive Officer (CEO), Dr. Ainojie Alexander Irune, during a side event titled “Aiding Nigeria’s Race to Net Zero by 2060” at the ongoing COP28 summit in Dubai.

Irohinoodua was at the event.

He said Nigeria has what it takes to lead the energy transition race and the country should drive the energy in a way that is sensible and productive for the environment.

He said, “We have seen the world shift to a view where if we are to talk about Africa, it does not benefit us. We have fossil fuel on ground to develop our continent but more importantly is this energy transition race, we have what it takes to lead this transition.”

He said further that “Nigeria has more gas than oil.

“We have everything for the renewable energy here in Nigeria which includes the Thermo-energy, wind and the sun for solar energy based on where we are positioned on earth”

He siar Nigeria is l already generating 60% of power from hydro, why the country positions itself as a country not only to sustain current eco-system adding that the country has every asset to drive the transition.

“We must drive this energy in a way that is sensitive and productive for our environment” Dr Irune stated.

The CEO also said Nigeria is the only country that has end to end valued chain components to drive renewable energy.

“Aside Nigeria, there is no country that has the end-to-end valued chain component to drive the renewable energy.”

According to him “What we have done at Oando is to say our journey in the oil and gas sector has brought us from a down stream player to the mid-stream business and into the up stream business which makes us one of the largest producers of oil in Nigeria.”

The Oando clean energy vice president, Demola Ogunbanjo, who was also present at the event said the company has taken the responsibility to commit some percentage of emission to value.

“Our job is to aid the transition of Net Zero agenda. We have taken it upon ourselves as one company in Nigeria to commit 7% of the total amount of emissions that Nigeria is looking to neutralize. We strongly believe that if other companies in Nigeria can make the same commitment, we will need less than twenty companies in Nigeria to support the government in achieving this agenda and it is with that visioning site we would continue to design projects that will accelerate this our own commitment” he said.

“It is a collective action, looking across Africa you will see that by 2030 Africa will invest lots of billion dollars on photovoltaic infrastructure and 80% of the money will find its way to China in exchange for Solar Panels which we can not let that happen in Nigeria” Mr Demola added.