According to President Bola Tinubu, Nigeria is ready to turn the challenges of climate change into possibilities for economic transformation and sustainable development.
Tinubu stated that rising temperatures, harsh weather events, and altered rainfall patterns threaten Nigeria’s development and people’s well-being.
The President stated this while delivering the keynote address at the product launch of NETZENCE Sustainability Limited, a sustainability technology and management company, in Abuja on Tuesday.
Tinubu, represented by Dr. Uche Nnaji, Minister of Science, Technology, and Innovation, spoke on the topic of ‘Accelerating Nigeria’s Net Zero Target and Carbon Market Ecosystem with Netzence Sustainability Limited.’
He stated, “Nigeria, like many other countries, is already experiencing the terrible effects of climate change. Rising temperatures, catastrophic weather events, and altered rainfall patterns all have an impact on our communities, agriculture, and economy.
“These changes jeopardize the basic foundation of our progress and the well-being of our citizens.
“Yet, within this challenge lies a tremendous opportunity to reshape our economy, embrace sustainable development, and position Nigeria as a leader in the global fight against climate change.”
The President highlighted that Nigeria has set an ambitious goal of achieving net zero emissions by 2060.
“This is not just a target; it is a commitment to future generations, a commitment to protect our environment, and a commitment to drive economic growth sustainably,” according to him.
According to the President, the Federal Government is building on previous successes in climate change adaptation initiatives.
They include Nigeria’s Carbon Market Initiative, Green Bond Initiative, and National Council on Climate Change and Renewable Energy Policy.
“But our journey does not end here,” he said; in fact, to truly accelerate our net zero target, we must focus on several critical areas.”
According to Tinubu, these areas include clear and consistent policies and regulations, a strong carbon pricing mechanism, massive mobilization of green finance, embracing new technologies and driving innovation, and strengthening partnerships with other countries, international organizations, and the private sector to “share knowledge, attract investment, and open new markets for Nigerian products and services.”
“By focusing on these areas, Nigeria may meet its net zero target, cut greenhouse gas emissions, and make a major contribution to global climate efforts.
“But the benefits don’t end there. “As we transition to a low-carbon economy, we will generate new economic opportunities, create jobs, and improve the quality of life for all Nigerians,” the President concluded.
Tinubu also acknowledged Netzence Sustainability Limited for “taking the lead on this noble journey.”
He pledged to the organization that “The Federal Government through the Ministry of Innovation, Science and Technology, and other MDAs and Agencies will collaborate with you in pioneering solutions that will accelerate Nigeria’s path to Net Zero.”
Dr. Sadiq Sani, Founder and CEO of Netzence Sustainability Limited, updated stakeholders on the company’s latest product, CloseCarbon, a Carbon Footprint tracking System.
According to Sani, CloseCarbon effortlessly tracks, monitors, and calculates your carbon footprint, contributing to a more sustainable future.”
He underlined that NETZENCE is ready to help the government meet the 2030 emission reduction target, the 2050 and 2060 Net Zero targets, and the United Nations Sustainable Development Goals.
“Our cutting-edge solutions will empower Nigeria to meet its Nationally Determined Contribution goals, aligning with global net-zero targets,” Sani told reporters.Dr. Sadiq Sani of Sustainability Limited informed stakeholders about the company’s new product, CloseCarbon, a carbon footprint tracking system.
This will be accomplished through real-time insight into NDCs, emission reduction management, and promotion of sustainable sector-based practices.
He added that the device was developed in response to an industry-wide survey that indicated a lack of credible evidence to support emission reduction promises.
“As a result of that, we have been able to develop embedded systems and also technologies in which we can use to be able to reduce emission by monitoring what has been done.”
“We promised that ClosCarbon would be free for all individuals to use.” So our technologies, which we have developed and constructed, are fully free for everyone,” he continued.
The Minister of Science, Technology, and Innovation, Dr. Uche Nnaji; former Governor of Niger State, Abubakar Bello; General Manager of the Niger Delta Power Holding Company, Prof Stephen Ogaji; Project Manager for the GEF-UNDP Africa Minigrids Project Nigeria, Dr. Bala Tyoden; Chairman of the Board of Directors, Jos Disco, Ibrahim Bello; and representatives from the Office of the Vice President, key partners, among others, were present.
Why this matters
The mention of specific initiatives like the Carbon Market Initiative, Green Bond Initiative, and the National Council on Climate Change indicates that Nigeria is already laying the groundwork for this transformation.
However, the success of these initiatives will depend on consistent policies, effective implementation, and the ability to attract and mobilize green finance. Tinubu’s call for embracing new technologies and strengthening international partnerships is crucial, as these areas can drive the necessary innovation and provide the resources needed for large-scale impact.
Bottom Line
If Nigeria can effectively implement this strategy, it could position itself as a leader in the global climate arena, particularly among developing nations.
This would enhance Nigeria’s diplomatic standing and potentially open up new markets for Nigerian products and services, as Tinubu suggested.
Domestically, a successful transition could lead to improved living standards, particularly if the new economic opportunities are distributed equitably across the population.
