— Appoints FIRS Boss, NCCC DG To Lead Nigeria Carbon Market Activation Plan
At the ongoing UN Climate Change Conference (COP28) in Dubai, UAE, President Bola Tinubu announced the rollout of 100 electric buses as part Nigeria’s plan to reduce its carbon emissions through modernizing transportation infrastructure.
To drive the transformative agenda, Tinubu also named two government officials as co-chairs of the Nigeria Carbon Market Activation Plan — Federal Inland Revenue Service (FIRS) Chairman Zacch Adedeji and National Council on Climate Change Director-General Dahiru Salisu.
Carbon markets facilitate the trading of carbon credits to incentivize the reduction of greenhouse gas emissions.
In such markets, companies or individuals offset their emissions by purchasing credits from projects that demonstrably remove or reduce atmospheric carbon.
Speaking at a high-level meeting on Saturday, Tinubu said electric bus rollout and carbon market development are part of a wider strategy to position Nigeria as a global leader in green manufacturing and industrialization.
”This initiative stands as a testament to our dedication to environmental stewardship as clearly exemplified through our collaboration with the Africa Carbon Market Initiative. Our visionary plan is a strategic guidepost, directing Nigeria towards becoming an investment-friendly destination for carbon market investments.
”We recognize the imperative of fostering an environment that not only attracts investment but also upholds standardized and sustainable industrial practices. As a manifestation of our forward-thinking approach, we are actively looking to implement robust, enabling policies and frameworks that will serve as the catalyst for the burgeoning growth of the carbon market within our national borders.
”In further driving my commitment, I have recently approved an Inter-governmental Committee on Carbon Markets to be chaired by the Executive Chairman of the Federal Inland Revenue Service and the Director-General of the National Council on Climate Change to drive this visionary plan,” the President stated.
The President stated that this was only the first phase of the ambitious move, calling the electric bus rollout a “concrete manifestation of our dedication to a carbon-neutral future.”
He added, “I assure you; this is only the commencement of our ambitious plans, with many more impactful initiatives on the horizon.”
Tinubu further called on global partners to join hands in accelerating collective efforts towards a net-zero future.
”As we unveil our initiatives, I challenge other nations to emulate our strides in mapping out their sustainable futures with a clear understanding that Africa is a beacon of innovative solutions to climate-related challenges.
”In this pursuit, we acknowledge the pressing need for comprehensive global collaboration, and we reiterate our commitment to being an active participant in international efforts.
”Nigeria’s plans for a greener and cleaner economy can serve as an inspirational narrative for nations worldwide. Our comprehensive approach, rooted in visionary leadership and pragmatic action supported by our technical partners, is poised to become a blueprint for countries aspiring to also develop and catalyze their markets for sustainable growth,” the President concluded.
Also speaking at the meeting, the FIRS Chairman, Adedeji, pledged full commitment to full implementation of Nigeria’s plan to achieve sustainable carbon market growth.
He assured that the country will lead the global effort to combat climate change, describing the initial phase of the rollout of the electric buses as a tangible symbol of Nigeria’s commitment to modernizing its transportation systems while reducing Africa’s modest carbon footprint.
COP28: Tinubu Paves Way For Carbon-Neutral Nigeria With 100 Electric Buses Rollout is first published on The Whistler Newspaper