INDUSTRY TRENDS

Nigeria Could Play A Key Role In Europe’s Energy Transition

Nigeria could be emerging as a key strategic partner to Europe’s energy transition, and the Franco-Nigerian relationship is at its heart. University research subsidies, funds for economic development, corporate partnerships and new refinery contracts are only a few of the many increasing ties linking the European Union to Nigeria in a nascent strategic partnership that addresses the heart of both blocs’ economic and political issues.

 

The Russian war in Ukraine has had a massive impact on the European energy market, a result of which is runaway inflation across the continent. The bloc is now searching for alternative sources of energy. While the stopgap measure has been a pivot to coal, this strategy is likely unsustainable in the long term. Europe’s solution for energy is a transition to sustainable energy generation. This means not only building out existing industries (wind in Denmark, nuclear in France, and solar in Spain, for example), but also finding new partners capable of sourcing the continent.