The Federal Government is targeting $2.5 billion in opportunities in the green economy.
Vice President Kashim Shettima will today, in Abuja, inaugurate the committee directed by President Bola Tinubu to develop the Carbon Market Activation Plan.
The committee will guide the development of a National Carbon Market Activation Plan to accelerate green growth and energy transition
The Federal Government, supported by the Africa Carbon Market Initiative (ACMI), will work towards the implementation of a co-created blueprint to position Nigeria with the requisite frameworks and policies to drive a sustainable carbon market ecosystem with $2.5 billion.
Tinubu announced the creation of the committee at COP28 in December and appointed the Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji, and Director-General of the National Council on Climate Change (NCCC), Dahiru Salisu, as co-chairs.
The duo will be joined by representatives from ministries and departments as part of the National Carbon Market Activation Plan Committee.
Members are to offer a roadmap for making Nigeria an attractive hub for investors by focusing on driving investments in innovative, green, and sustainable initiatives across sectors.
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The current Electric Buses Rollout Programme is an example of how the government is committed to using carbon markets to finance development.
Speaking at COP28, President Tinubu said: “This initiative stands as a testament to our dedication to environmental stewardship, as 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.”
Adedeji, Co-Chair of the National Carbon Market Activation Plan, said: “In the immediate term, Nigeria will proudly unveil a series of innovative, clean, modern, and sustainable initiatives across diverse sectors.
“These initiatives are strategically designed to not only address climate change-related challenges but also to position Nigeria as an attractive destination for global investments.”
