Stakeholders in Environment Meet to Strategizing on Enhancing Nigeria’s Carbon Market Transition

Michael Olugbode in Abuja

Stakeholders in the nation’s environment sector have met in Abuja to designed strategies aimed at enhancing Nigeria’s transition into a thriving carbon market.

A workshop tagged 3-Day Stakeholders Engagement on Nigeria’s Carbon Market Policy and Manual of Procedure is being organized by National Council on Climate Change Secretariat (NCCCS) with the support of the United Nations Development Programme (UNDP), the European Union (EU), United Kingdom (UK)government and others.

Some State Environment Commissioners who spoke at the workshop to journalists, welcomed the ongoing Carbon Market Activation Workshop in Abuja, saying it will help them harmonise all activities in terms of carbon financing and credits.

The Niger State Commissioner of Environment and Climate Change, Hon. Yakubu Kolo said the training has given him enlightenment and in-depth knowledge about Article 6 and how Nigerians can key into it.

He said: “It is expected that we will be able to harmonise all our activities in terms of carbon financing, carbon credits and then ensuring that we look into all those areas to get alternative sources of funding instead of depending on the normal revenue allocation from the federal government.

“The state is looking inward to see how we can leverage on this carbon financing through the creation of green bonds. And then the State Governor, His Excellency Mohammed Umar Bago also directed we should try to raise seedlings that we will be able to produce more seedlings that we can use to regenerate our forests within the states. And by doing this, we are sure that this issue of Article 6 will be able to move on and get our resources involved in the issue of voluntary market.

“Because right now from what we have been told today, Article 6.2 and then the voluntary carbon market is where the Nigerian government is trying to start its green initiative in refinancing our carbon market.

On his part, the Jigawa State Commissioner of Environment and Climate Change and Chairman of the Commissioners Forum, Dr. Nura Ibrahim Kazaure said the training will enhance solar projects, afforestation projects, alternative cooking techniques using cookstove and a lot of things being executed in the states.

Kazaure said we really thank the NCCCS for organising such an event. And most importantly, calling on commissioners to come around.

He said: “We are going to leverage on this three-day workshop to take home and start developing apparatus and a lot of methodologies.”

In his comments, the Kaduna State Commissioner of Environment and Natural Resources, Abubakar Buba expressed optimism that the training will simplifyto the sub-nationals ways to access the carbon market globally.

Earlier, the Director-General, NCCCS, Dr. Nkiruka Maduekwe welcomed participants to the training, saying the Federal government is very keen to strengthen the federal – states relationship in building a virile carbon market.

She noted that the training is designed to catalyse Nigeria’s transition into a thriving carbon market.

She revealed that the workshop aligns with Nigeria’s commitment to sustainable development, carbon emission reduction, and the attraction of global investments, adding that the workshop seeks to sensitise stakeholders to new policies, regulations, and procedural frameworks; Provide high-level training on carbon market operations and dynamics; Gather stakeholder feedback to refine strategic documents; define the roles and responsibilities of all stakeholders; and Build capacity of National Designated Authorities (NDAs) for effective oversight and implementation.