Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet

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August 1, 2023

Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet

Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet – Yemi Osinbajo, the former Vice President, has taken up a significant position as a Global Advisor for the Global Energy Alliance for People and Planet (GEAPP).

In a recent interview with Emma Okonji, he shares his motivations behind joining the organization and outlines his specific role as Global Advisor. Read more about Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet in this article.

Contents

1 Relevant Questions:

Relevant Questions:

Could you shed light on what inspired you to become part of the Global Energy Alliance for People and Planet (GEAPP) as a Global Advisor? And could you elaborate on the responsibilities and objectives of your role in this capacity?

Following my departure from office as Vice President of the Federal Republic of Nigeria on May 29, 2023, I am now serving as a Global Advisor for GEAPP, which I believe is a compelling endeavor to be a part of. During my tenure as Vice President, I closely monitored GEAPP’s activities in Africa and was genuinely impressed by their commitment to universal energy access and combating climate change.

Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet

The Motivation & Focus:

What truly motivated me to join GEAPP was the organization’s successful partnerships with various African governments, particularly their collaboration with the Nigerian government on clean energy and climate change initiatives. I firmly believe that addressing climate change requires dedicated partnerships, and GEAPP’s efforts in this regard are commendable across Nigeria and other African nations.

In my capacity as Global Advisor, my primary focus will be to support GEAPP in strengthening its partnerships with governments. This entails creating an enabling environment that fosters effectiveness and facilitates increased capital inflows into the clean energy sector. Additionally, I will passionately advocate for Just Energy Transitions in Africa, aiming to scale up the continent’s involvement in the global carbon market through the Africa Carbon Markets Initiative (ACMI). By doing so, we can collectively advance sustainable solutions for the region’s energy needs while promoting environmental preservation. Read more about Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet in this article.

My responsibility as Global Advisor also includes championing the cause of clean energy accessibility in both Nigeria and the broader African context. I am thrilled to collaborate with GEAPP to drive clean energy initiatives in these regions, especially given the remarkable partnerships the organization has forged with the Nigerian government to promote clean energy adoption in the country.

In Nigeria, clean energy access plays a pivotal role in our development trajectory. Lack of sufficient clean energy access would hinder our progress as a nation. Therefore, at GEAPP, we are committed to providing access to electricity that fuels economic growth, stimulates job creation, and empowers Nigerians and the rest of Africa to overcome poverty and health challenges.

GEAPP itself is an alliance comprising philanthropic entities, governments from emerging and developed economies, as well as technology, policy, and financing partners. Our collective mission is to facilitate the transition of emerging economies to a clean energy-oriented, pro-growth model that accelerates universal energy access and fosters inclusive economic growth while actively supporting the global community in achieving critical climate objectives within the next decade. This is about Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet in this article.

The impact of GEAPP’s operations on Nigeria and Africa is already significant, thanks to the collaboration with various philanthropists and multilateral institutions. Our objectives are geared towards driving clean energy transitions, with a focus on the unique needs of different states and countries. Recognizing that each nation already has its own developmental plans, our approach is not to influence their policies but to demonstrate the economic and job creation benefits of clean energy adoption.

In Nigeria, GEAPP has developed an energy transition plan that stands among the best globally. This plan is aiding the Nigerian government in identifying critical issues during the transition process and recognizing essential economic value chains. Moreover, it helps identify the necessary support and funding from the private sector and donor foundations. One of our primary goals is to reduce the cost of accessing renewable energy, making it more affordable for Nigerian businesses and opening up more job opportunities. Watch out more about Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet in this article.

By working together and reducing barriers to renewable energy adoption, we can enable more Nigerians to access clean energy, enhancing overall economic growth and contributing to a sustainable and prosperous future for Nigeria and the entire African continent.

GEAPP has a strategic approach to funding the renewable energy initiative in Nigeria, focusing on catalyzing additional funding from various sources. The emphasis lies not merely in the quantity of their funding but in the nature of it, with the aim of unlocking capital flow from other partners.

To achieve this, GEAPP has established agreements with development finance bodies to co-invest over $10 billion, alongside another $1 billion from another entity, creating a remarkable 10:1 multiplier effect. The ultimate objective is to attract private sector capital, as it represents a significant source of funding. For instance, in South Africa, GEAPP collaborates with the World Bank and has invested $7 million to facilitate an impressive $450 million of World Bank funds for scaling up renewable energy projects. Read more about Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet in this article.

In Nigeria, GEAPP is working towards unlocking pension fund money and bank lending to support renewable energy endeavors. As part of the pilot stage, GEAPP has contributed $10 million, which is expected to pave the way for several multiples of dollars in lending from the Nigerian Pension Fund industry.

Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet

GEAPP Funding Model:

The funding model of GEAPP revolves around strategic investments that act as catalysts, enabling the mobilization of substantial commercial capital to support their renewable energy initiatives throughout Africa. By leveraging partnerships and capitalizing on co-investments, GEAPP aims to drive substantial funding into the renewable energy sector, thus accelerating the transition towards a cleaner and more sustainable energy future for Nigeria and the entire African continent.

My perspective on Nigeria and the rest of Africa’s approach to addressing climate change is that it demands urgent and serious action. The consequences of inaction are potentially dire, and as a continent, we must not overlook this critical global challenge. Other nations around the world are already taking measures to tackle climate change, and Africa should actively participate in these efforts. Find out more about Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet in this article.

Given Nigeria’s fragile economy, it is crucial to fortify it by implementing the necessary infrastructure to combat climate change effectively. The urgency to act cannot be overstated, as we must work swiftly as a country and as a continent to reverse the current trends and impacts of climate change.

Addressing climate change is not only about mitigating its effects but also entails ensuring access to clean energy for all. Both aspects are interconnected, and while we strive to resolve climate change issues, we must also prioritize providing access to clean energy. Yes, read more about Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet in this article.

Energy access is pivotal for our nation’s development, and its significance cannot be understated. Without adequately addressing energy access issues, our capacity for development will be severely constrained, hindering progress in various sectors.

In conclusion, it is imperative that we focus on making adequate preparations to address climate change and simultaneously ensure access to clean energy in Nigeria and across Africa. By doing so, we can foster sustainable development, safeguard the environment, and secure a brighter future for generations to come.

GEAPP’s approach to addressing the issue of poor infrastructure in Nigeria

GEAPP’s approach to addressing the issue of poor infrastructure in Nigeria and Africa as part of its renewable energy drive revolves around the opportunity presented by climate change to leapfrog and embrace a decentralized energy supply. The Nigerian government is already recognizing the need for decentralization, and policies are being put in place to tackle electricity challenges. Rather than relying solely on a single grid system, the introduction of mini-grid systems is expanding energy capacity across the country, effectively addressing Nigeria’s energy infrastructure issues. GEAPP envisions significant improvements in energy infrastructure in Nigeria over the next five years. This is about how – Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet.

Campaign Strategy in Nigeria

Regarding the campaign strategy to provide access to clean energy in Nigeria, GEAPP aims to empower individuals and small businesses with renewable energy-based electricity, ensuring access to electricity for all Nigerians who currently lack it. This campaign began in Lagos, Nigeria, and is set to expand to other African countries. In Lagos, the initiative was launched at Ikorodu market, where traders were equipped with roof-top solar panels, generating electricity 24/7 to power their businesses.

Globally, more than 700 million people, including Nigerians, lack access to electricity, and approximately half of the global population lacks affordable, reliable energy to meet their needs. GEAPP is committed to bridging this gap by providing access to clean energy for people worldwide, including Nigeria. The installation of roof-top solar energy in Ikorodu market has already made a tangible impact, significantly improving businesses in the area. Traders have experienced growth in their customer base and daily sales due to the constant and reliable electricity supply from the roof-top solar panels. Read more about Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet in this article.

GEAPP’s determination to extend access to clean energy spans beyond Lagos to encompass the entire Nigeria, as they strive to make clean energy readily available and accessible for a brighter and more sustainable future for the nation.

Through the supply of clean energy in Ikorodu market, Lagos, GEAPP has successfully catalyzed a transformation in the businesses and lives of traders and customers. This transformative impact is at the core of GEAPP’s vision not only for Nigeria but also for the rest of Africa and the world. The primary focus is to provide access to clean energy to the vast number of Nigerians and Africans who currently lack it, enabling them to power their homes and businesses. The concerning statistics of those without electricity access in sub-Saharan Africa highlight the urgency to address the issue of energy access, which is a critical aspect of GEAPP’s mission.

To embrace GEAPP’s vision of providing access to green energy, Africans must recognize their potential to be part of the solution to climate change and energy challenges. Africa possesses abundant natural resources for renewable energy, such as solar energy, and can play a significant role in addressing global energy needs. By investing in solar panels and batteries, African nations can harness their vast solar resources to generate green energy. Read more about Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet in this article.

For instance, Nigeria’s large youth population and considerable carbon footprint offer an opportunity to create millions of job opportunities through renewable energy initiatives. This is achievable by building the necessary infrastructure and aligning with organizations like GEAPP, which are dedicated to combating climate change and promoting clean energy.

It is essential for Africa to avoid following the carbon-intensive development path taken by some other countries. Instead, the continent must prioritize green energy solutions to develop sustainably. By doing so, Africa can contribute to the global effort to achieve carbon neutrality, which is crucial for a sustainable future for Nigeria, Africa, and the entire world. Realizing carbon neutrality by the targeted dates, whether 2050 or 2060, is only achievable if the world collectively embraces green energy solutions, making it imperative for Africa to play an active and vital role in this global endeavor. Follow Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet

GEAPP initiative Impacts on businesses:

The GEAPP initiative is expected to bring about a massive level of impact on both the people and businesses in Nigeria and the rest of Africa. The clear objectives set forth by GEAPP demonstrate their commitment to achieving their goals. As Global Advisor, I will ensure that we tailor our approach to address the unique needs of each country in Africa where GEAPP is involved.

Governments in these countries will witness the economic benefits of GEAPP’s initiative to transition towards clean energy, which will likely lead to their enthusiastic support for the initiative. GEAPP’s collaborative model, sense of urgency, and focus on driving systemic change align well with the aspirations of emerging economies as they strive for a greener and more sustainable future for their citizens. Read more about Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet in this article.

The vision of GEAPP for transformative change is ambitious, and the organization is actively working on strategies to reduce the costs associated with renewable energy components such as storage batteries and solar panels. Through a cost reduction initiative, GEAPP aims to make clean energy more affordable, thereby expanding access to reliable and sufficient clean energy for more Nigerians and Africans.

By accelerating the adoption of clean energy and facilitating access to it, the GEAPP initiative is poised to make a significant and positive impact on the lives of people and businesses across Nigeria and the rest of Africa. The drive towards a greener and more sustainable energy future will contribute to economic growth, job creation, and improved living conditions, fostering progress and prosperity for the continent as a whole.

My appointment underscores GEAPP’s strong dedication to forging partnerships with governments and communities throughout Africa, Asia, Latin America, and the Caribbean. Together, we aim to facilitate the transition towards clean energy systems that will not only spur economic growth but also create new job opportunities and sustainable livelihoods. In alignment with our mission, we are actively working to address urgent climate goals during the coming decade. Reference. Read more about Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet in this article.

Business Plan Matters:

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Bankable business plan – this is to seek investors or loan facilities.

Summing Up on Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet

We congratulate Yemi Osinbajo on his prestigious appointment as a Global Advisor to the Global Energy Alliance for People and Planet. This recognition is a testament to his exceptional leadership and commitment to sustainable energy solutions. As he takes on this influential role, we are confident that his expertise and vision will further drive positive change in the energy sector and contribute significantly to a greener, more sustainable future for our planet.

The Global Energy Alliance for People and Planet has made a remarkable choice in selecting Mr. Osinbajo, and we eagerly anticipate the positive impact he will make in advancing global energy initiatives. Together, with leaders like him, we can strive toward a cleaner and more sustainable world for generations to come. Thanks for reading Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet

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Yemi Osinbajo appointed Global Advisor to Global Energy Alliance for People and Planet

Relevant Questions: