The International Finance Corporation (IFC), the arm of the World Bank that focuses on developing countries, has published a charting the steps Nigeria must take to drive its CCS industry and decarbonisation more generally.
The analysis acknowledges that Nigeria is wrestling with twin challenges. It is on track to be the third most populous country in the world by 2050 – with the population projected to rise from 210 million today to 411 million – and yet, like every nation, it must meet its rising demographic and energy needs sustainably while reducing emissions.
The IFC notes that carbon capture and storage (CCS), including the country’s depleted oil and gas wells, is one potential means of Nigeria maintaining economic growth while meeting climate targets.
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