*Says despite huge resources, continent gets only 3% of global energy funding
Emmanuel Addeh in Abuja
The International Energy Agency (IEA) has said that with over 600 million Africans lacking access to electricity and more than 1 billion persons cooking their meals in open fires, over $240 billion will be required by 2030 to fix the problem.
The IEA in its report at the weekend also threw its support behind the G7 initiative, which laid out key energy investments needed to achieve Africa’s energy and climate goals, and how to finance them.
Leaders of the G7, an informal association of seven of the world’s advanced economies and some of Nigeria’s biggest trading partners, had pledged a $420 million investment commitment to boost infrastructure on the continent.
The countries comprising G7 include: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, as well as the European Union (EU).
According to the agency, meeting…
Source: Thisday Newspaper
