Africa (Commonwealth) _ President Bola Tinubu emphasizes that collaboration is the key to the success of efforts to combat climate change and that African nations, including Nigeria, require partnerships for a new green economy.
The President stated in an OP-ED piece for CNN that while attending the COP28 World Climate Action Summit in Dubai, United Arab Emirates, he was particularly concerned about security risks, population displacement, environmental deterioration, and other side effects of climate change.
He claimed that although Nigeria has overcome significant setbacks, such as the COVID-19 pandemic’s effects, temporary difficulties brought on by economic changes, and the continuous unification of international currency values, adding that in spite of these obstacles, the country is unwavering in its desire to rebuild a stronger, cleaner economy.
He noted that Nigeria joined the African Carbon Market Initiative at COP28 in order to launch the Nigerian Carbon Market Initiative, upholding our legally-binding commitment to a cleaner future.
The President reiterated in his letter his position on the unfairness of the current economic situation, saying that developing countries bear the brunt of its effects even though they are the ones who contribute the least to it.
He said that a just and cooperative strategy was required, saying that African nations could not succeed on their own. Too many rich countries have put off taking the necessary action for far too long.
President Tinubu emphasized that Nigeria has undertaken major actions and acted promptly in implementing the Climate Change Act and promising to net-zero emissions between 2050 and 2070, emphasizing the country’s efforts and dedication to its commitments.
Tens of thousands of young people across the nation have successfully organized the most populous country in Africa to plant 250,000 trees yearly in order to fulfill a commitment to plant 25 million trees by 2030 as we construct our big green wall to fend off the advancing desert across our nation’s northern area.
The President stated that although Nigeria is actively seeking to utilize its vast wind and solar resources, giving up fossil fuels—which are the country’s major source of income—will not be simple. I declared Nigeria’s intention to build blue and green hydrogen capacity for exporting last month at the G20 Summit in Berlin. I further cemented this commitment in talks with energy producers in the Middle East.
With assistance from programs like the Climate Finance Leadership Initiative and the recently announced US and EU international infrastructure initiatives, we now want to mobilize private finance, he stated.
He said that Nigeria is looking at possible resources to investigate in its efforts to switch to cleaner energy, including the Global Gateway program of the European Union and the Build Back Better World project of the United States government.
By politely competing with Russia to deliver energy to European markets, we also want to diversify our economy. Both renewable energy and natural gas can help us do this. We are heavily investing in both because of this.
Hiring batteries might enable Nigerians to get rid of their generators. But there’s no more time to observe and bide your time. Developed countries are required to fulfill their pledges by making substantial payments to the Loss and Damage Fund and the $100 billion yearly climate finance obligation. The President said that it was time to grasp the opportunity.
Prof. Yemi Osinbajo (SAN), the immediate past vice president of Nigeria, stated that Africa has the potential to become the world’s first green industrial powerhouse due to its richness of natural resources, teeming youth population, and tremendous potential for renewable energy. Speaking as a Special Guest and speaker, Osinbajo said that, with the correct kind of investment, the African continent is poised to achieve the Climate Positive Growth Plan.
At the packed summit, he addressed a group of multinational corporate executives, policymakers, and lecturers from Africa and around the world on the subject of “How Africa is Navigating the Energy Transition.”
