Bagudu explores hydrogen investment opportunities at Madrid summit
Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has participated in a high-level international dialogue in Madrid, Spain, focused on advancing hydrogen deployment, strengthening cross-regional cooperation, and developing sustainable hydrogen ecosystems.
The conference brought together policymakers, industry leaders, investors, standards organisations, and project developers to explore practical strategies for moving hydrogen from policy ambition to large-scale implementation.
The event was organised by the International Hydrogen Fuel Cell Association (IHFCA), an international academic non-profit organisation comprising enterprises, research institutions, and industry bodies across the hydrogen value chain. The association, established in July 2022, operates under the supervision of the China Association for Science and Technology (CAST), with its secretariat based in Beijing.
On the sidelines of the conference, Bagudu held separate meetings with officials of the IHFCA and the United Nations Industrial Development Organisation (UNIDO) to discuss ongoing hydrogen development initiatives, Nigeria’s renewable energy investment plans, innovation opportunities, and areas of collaboration.
The discussions also explored partnerships aimed at supporting Nigeria’s transition to cleaner energy and expanding investments in renewable energy technologies.
As part of the programme, the minister, alongside representatives of the IHFCA, industry leaders, investors, and global project developers, visited EMT Madrid’s green hydrogen facility and refuelling station.
The nearly 50,000-square-metre facility is Europe’s first municipal hydrogen bus plant, integrating the entire green hydrogen value chain, including production, compression, storage, and distribution.
Powered by a 2,780-panel solar array, the plant produces green hydrogen through water electrolysis and operates independently of the power grid. The facility, which received more than €17.2 million in European Union funding, supplies fuel to a fleet of 10 hydrogen-powered buses serving Madrid and features high-pressure dispensers capable of refuelling a bus in less than 10 minutes.
