Eco2ruppers Nigeria Launches $60bn Annual Green Financing Solutions to Tackle Climate Change

Adedayo Akinwale in Abuja 

Eco2ruppers Nigeria has launched a $60 billion annual green financing solution platform designed to tackle the pressing challenges posed by climate change, while also driving economic gains and empowerment.

Lead Sustainable Finance and Circular Economy Expert, Victor Agih, in a statement yesterday said Africa stands at a critical crossroads, facing the brunt of the climate crisis despite emitting the lowest levels of greenhouse gas emissions globally. 

He emphasised that extreme weather events, rising sea levels, and prolonged droughts have wreaked havoc on communities and ecosystems, threatening livelihoods and exacerbating food insecurity. 

Agih said Nigeria is host to one of seven of the continent’s largest coastal cities — Lagos, which is projected to grow by 40 percent by 2030,  makes the challenges more worrisome. 

He noted: “The country is considered incredibly susceptible to the effects of climate change. Since many communities in the Niger Delta have lost or fear losing their homes due to coastal erosion. 

“Rising global temperatures are also predicted to endanger Nigerians due to an increasing frequency of heat waves. Estimates suggest that more than 20 per cent of the population will be exposed to heat waves that are detrimental to human health. And the number of “very hot days” is set to increase by about 90 days in most regions of the country.”

Agih stressed that in response to these challenges, Eco2ruppers Nigeria is poised to lead the charge towards a net-zero sustainability transition across the country.

He added: “Eco2ruppers Nigeria is committed to delivering tangible environmental and social benefits to communities across Africa. Advancing universal health coverage with 60 million healthcare wallets, incentivising 60 million green volunteers, distributing 60 million clean cook stoves, and launching a nationwide plastic recycling program for 60 million tons of plastic, the initiative aims to improve livelihoods and foster sustainable lifestyles.”

Agih pointed out that the  launch of the Eco2ruppers project comes at a pivotal moment for Nigeria, as the country ramps up its efforts to address climate change and achieve its Nationally Determined Contributions (NDCs). 

He said with an estimated national funding gap of $20.5 billion annually, Eco2ruppers represents a bold and ambitious response to this challenge.

Agih noted the initiative stands as a testament to the country’s commitment to sustainable development and environmental stewardship. 

He said by harnessing the power of innovation and collaboration, Eco2ruppers Nigeria was poised to catalyse positive change and jumpstart a greener, cleaner and more prosperous future for Ghana and the Ghanaian people.

Agih explained that Eco2ruppers Ghana aimed to mobilise $60 billion in climate finance annually through innovative domestic resource mobilisation mechanisms. 

According to him, by leveraging sustainable financing solutions through its sustainability action marketplace, the initiative will channel investments into projects that promote ecosystem restoration and conservation, clean energy development, sustainable agriculture, among other critical investment areas.