President Bola Tinubu of Nigeria says African countries would need partnership and a cooperative approach for a new green economy.
He said in a CNN Op-Ed article that the issues of security threats, dislocation of people, environmental atrophy and other collateral impacts of climate change were on his mind during the COP28 World Climate Action Summit in Dubai, UAE.
Tinubu said Nigeria has battled against major obstacles, including the COVID-19 pandemic, short-term challenges from economic reforms and the on-going unification of foreign exchange rates.
He said that the nation, however, remained steadfast in its resolve to reconstruct a better, cleaner economy in spite of these challenges.
“To uphold our legally binding commitment to a cleaner world, Nigeria launched the Nigerian Carbon Market Initiative at COP28 by joining the African Carbon Market Initiative,” he said.
Reiterating his stance on the inequity in the economic status quo, the president wrote that developing nations, in spite of contributing minimally to the problem, endure most of its impacts.
He said African countries simply cannot go at it alone, adding: “There must be a fair and cooperative approach. For too long, too many developed nations have hesitated to do what they should.
“Nigeria has taken significant steps and acted decisively in enacting the Climate Change Act and committing to net-zero emissions between 2050 and 2070.
“Africa’s most populous nation has successfully mobilised tens of thousands of youths nationwide to plant 250,000 trees annually to honour a pledge to plant 25 million trees by 2030 as we build our great green wall to fight back against encroaching desert across the northern region of our nation,” he said.
The president said Nigeria was aggressively pursuing the exploitation of the nation’s wind and solar resources, adding that transitioning from fossil fuels, which are Nigeria’s economic mainstay, will not be easy.
“While in Berlin last month at the G20 Summit, I announced Nigeria’s commitment to develop blue and green hydrogen capacity for international export. In conversations with Middle Eastern oil producers, I also solidified this commitment.
“We now seek to mobilise private capital with support from initiatives like the Climate Finance Leadership Initiative and the new US and EU global infrastructure programmes,” he said.
Tinubu also said that the European Union’s Global Gateway programme and the U.S. Government’s Build Back Better World initiative are potential resources Nigeria would explore in its efforts for cleaner energy.
“We are also looking to diversify our economy by engaging in friendly competition with Russia in the supply of energy to European markets.
‘’We can do it with natural gas and through green energy. This is why we are investing massively in both.
“Batteries for hire could help Nigerians ditch their generators. But the time for watching and waiting is over.
‘’Developed nations must honour commitments in the form of significant contributions to the Loss and Damage Fund and the $100 billion annual climate financing pledge,” the president said.
By Ismail Abdulaziz
