Nigerian Stakeholders Chart Course For Thriving Carbon Market

Abuja, Nigeria –  Stakeholders in Nigeria’s environment sector have gathered in Abuja for a three-day workshop aimed at accelerating the nation’s transition to a robust carbon market.

The workshop, titled 3-Day Stakeholders Engagement on Nigeria’s Carbon Market Policy and Manual of Procedure, is a collaborative effort between the National Council on Climate Change Secretariat (NCCCS), the United Nations Development Programme (UNDP), the European Union (EU), the United Kingdom (UK) government, and other partners.

The event, which commenced Wednesday, focuses on equipping participants with the knowledge and tools necessary to navigate the complexities of carbon financing and credit generation.

State Environment Commissioners attending the workshop expressed enthusiasm, highlighting its potential to harmonize efforts across the country.

Hon. Yakubu Kolo, Niger State Commissioner of Environment and Climate Change, emphasized the training’s value in understanding Article 6 of the Paris Agreement and its implications for Nigeria.

He stated that the workshop will facilitate alternative funding sources beyond federal revenue allocation, citing the state’s exploration of green bonds and afforestation initiatives to leverage carbon financing.

Dr. Nura Ibrahim Kazaure, Jigawa State Commissioner of Environment and Climate Change and Chairman of the Commissioners Forum, echoed these sentiments, emphasising the training’s relevance to ongoing state-level projects, including solar energy initiatives, afforestation programs, and the promotion of cleaner cooking methods.

Abubakar Buba, Kaduna State Commissioner of Environment and Natural Resources, expressed confidence that the workshop will simplify access to the global carbon market for sub-national entities.

Dr. Nkiruka Maduekwe, Director-General of the NCCCS, underscored the Federal Government’s commitment to strengthening collaboration between federal and state actors in building a successful carbon market.

She highlighted the workshop’s objectives: sensitising stakeholders to new policies and frameworks, providing training on carbon market operations, gathering feedback to refine strategic documents, defining stakeholder roles, and building the capacity of National Designated Authorities (NDAs).

The workshop aims to align with Nigeria’s commitment to sustainable development, carbon emission reduction, and attracting global investment.