President Bola Tinubu has returned to Abuja following a six-day trip to Dubai, United Arab Emirates, UAE, where he attended the ongoing United Nations Climate Change Conference, CoP28, and other side events.
Tinubu, who left Nigeria last Wednesday, landed at the Nnamdi Azikiwe International Airport in Abuja yesterday at 6:45 p.m.
While in Dubai, the President witnessed the signing of an expedited performance agreement aimed at hastening the implementation of Nigeria’s 12,000 megawatt Presidential Power Initiative.
On Saturday, he joined a panel on African Green Industrialization, which was organised by the COP28 Presidency and the President of the United Arab Emirates, His Highness, Sheikh Mohamed bin Zayed Al Nahyan, telling global leaders that risk management is vital for Africa’s full and swift transition to cleaner energy.
While speaking at a high-level meeting with stakeholders and investors on the Nigeria Carbon Market and Electric Buses Rollout Programme, President Tinubu said Nigeria is taking a significant step towards a sustainable and eco-friendly future by introducing a pioneering initiative to deploy a fleet of 100 electric buses.
Highlighting some of the investment and partnership opportunities, as well as benefits accruing to the country from the CoP28 in a statement, Minister of Information and National Orientation, Mohammed Idris, listed some of the earlier mentioned positives.
“Nigeria and Germany signed an accelerated performance agreement to expedite the implementation of the Presidential Power Initiative to improve Nigeria’s electricity supply.
The agreement was signed by the Managing Director and CEO of FGN Power Company, Mr. Kenny Anuwe and Siemens Energy’s Senior Vice President and Managing Director for Africa, Ms. Nadja Haakansson at a ceremony witnessed by President Tinubu and Chancellor Scholz.
“President Tinubu hosted a high-level meeting with stakeholders and investors on the Nigeria Carbon Market and the Electric Buses Rollout Programme on the margins of the COP28 climate summit.
“The President unveiled the Nigeria Carbon Market Activation Plan, co-chaired by the Executive Chairman of the Federal Inland Revenue Service, Mr. Zacch Adedeji, and the Director-General of the National Council on Climate Change. Dr. Dahiru Salisu.
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“The Electric Buses program is only the first step in a series of innovative, clean, modern, and sustainable initiatives across diverse sectors, all aimed at simultaneously addressing climate change-related challenges, reducing carbon footprint, modernizing infrastructure systems, and positioning Nigeria as an attractive destination for global investments.
“Nigeria stands to benefit from the Loss and Damage Fund established during COP-27 in Egypt and formally operationalized at the opening plenary of COP-28 in Dubai.
The Fund will provide substantial non-debt financing to support countries most affected by the impact of climate change. Hundreds of millions of dollars have already been pledged as contributions to the Fund.
“The President also met the President of UAE to concretize engagements between the two countries. This is aside from the bilateral talks held with several countries and multilateral partners”, Idris said in his statement on Monday.
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