Finland backs energy transition, to invest in mining
President Bola Tinubu and his Brazilian counterpart, Luiz Inácio Lula da Silva, yesterday, met and discussed in Addis Ababa, Ethiopia on strengthening bilateral ties in diverse fields.
During the meeting, Tinubu highlighted Nigeria’s strength in economic potential and influence, saying that the most populous black nation was witnessing a leap despite some short-term reform pains, as his administration “is removing all encumbrances to business.”
The President explained that his government was investing in critical sectors of the economy like healthcare, education, and agriculture to ensure the welfare of all Nigerian citizens and create sustainable economic prosperity for future generations.
“We have a very vibrant population of young Nigerians, who are trainable, dependable and should be empowered. The economic potential of Nigeria is enormous. We are ready to break all the walls standing in our way to progress,” he said.
Assessing Nigeria’s natural and human resource wealth relative to his country’s, the Brazilian leader said Africa’s largest economy and South America’s largest economy have a long and interesting history together.
He recalled that both nations once had a trade volume of more than $10 billion in the past, which has now plummeted to $1.6 billion, restating his determination to strengthen bilateral relations.
The leaders of the largest democracies in Africa and South America agreed to work out the modalities for a state visit to Brazil by President Tinubu after President da Silva extended an invitation, which the Nigerian leader warmly accepted.
IN a related development, the Finnish government has pledged to assist Nigeria in transiting from gas to renewable, flexible, cost-effective energy sources and also invest in the nation’s mining sector shortly.
Finland Ambassador to Nigeria, Leena Pylvanainen, who made the disclosure in Abuja at a dinner in honour of Dr Kingsley Akinroye on the award of Night First Class of the Order of the Lion of Finland, said a Finnish energy firm and global leader in gas engine technology, Wartsila, is partnering with Nigerian industry and contributing to the implementation of the country’s energy transition plan, with focus on gas and integration of renewables.
She observed that the Finnish national target for carbon neutrality is among the most ambitious in the world by 2035. The envoy said the two countries share a history of 60 years of friendship, cooperation, and diplomatic relations.
