The global energy sector’s shift from fossil-fuels to clean energy in response to the climate crisis presents a number of opportunities as well as risks to fossil-fuel export dependent economies such as Nigeria. This realization has occasioned a number of policy responses at the national level, including an Energy Transition Plan (ETP).
But what are the potential fiscal risks of the energy transition for oil producing states in Nigeria? How prepared are they for the impending oil revenue decline and other shocks that will accompany the transition? What can be done to position sub-nationals for fiscal resilience in the face of an inevitable transition?
To answer these questions, Policy Alert in partnership with BudgIT Foundation and the National Resources Management Institute (NRGI) organized a capacity building workshop on fiscal resilience for the energy transition for legislators and policy makers in Akwa Ibom State. The activity aimed at stirring the thinking of state actors in Akwa Ibom towards the impending energy shift, the need to develop a sub-national Energy Transition Plan and a Fiscal Contingency Strategy for the Energy Transition.
