The Federal Ministry of Environment has presented a roadmap for Nigeria to achieve net zero including the scale of financing, renewables to be deployed and the importance of transition fuels.
Speaking in Abuja recently, the Minister of State for Environment, Sharon Ikeazor, stated that to “meet our Nationally Determined Contribution (NDC) target and fast track our low carbon development pledges to the United Nations Framework Convention on Climate Change (UNFCCC), the Nigerian Sovereign Green Bond was issued in line with our Economic Recovery Growth Plan (ERGP).”
She explained that these Green Bonds are used in financing environmentally friendly projects through debts tied to sustainability targets.
The minister noted that “In collaboration with the Energy Commission of Nigeria through the support and expertise of the UK government, we launched the Nigeria Energy Calculator, as a tool for generating evidence to support intelligent policy making around energy and climate change.
“In December 2021, We launched the Deep Decarbonization project with the support of the French Development agency (AFD). This project is a National research and capacity development project for the implementation of a Deep Decarbonisation pathway program for Nigeria.”
In the area of erosion and flood control, the minister noted that it remains a priority area. “Soil erosion and degradation represent some of the most serious environmental and health problems facing us today in Nigeria,” she said.
“The Federal Ministry of Environment has been implementing programmes and projects aimed at preventing and controlling land degradation arising from inland soil erosion, flooding, coastal and riverbank erosion throughout the Federation.
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“The Ministry since inception executed over 2,000 erosion and flood control projects and other smart climate related ecological interventions in various states.
“Our flagship program, NEWMAP, was born by the Department of Erosion and Flood Control as an initiative to solving the astronomical ecological challenges and dwindling funding of erosion projects in the Ministry.
“NEWMAP is a World Bank funded project that adopts the Integrated Watershed Management Approach, aimed at addressing the menace of gully erosion and other forms of land degradation with the objective to reduce vulnerability to soil erosion.
“Under NEWMAP, 56 sites completed; 23,829 hectares of degraded land reclaimed, 75 erosion sites reduced in severity, surpassed target of 55 sites, 25,491 households directly benefitted from Project, and Storm-water Master plans developed.”
She added that “We have established a web based flood early warning systems (FEWS) showing 307 locations across Nigeria; installed 17 community based FEWS stations nationwide in Ondo, Bayelsa, Cross River, Akwa Ibom, Osun, Lagos, Jigawa, Sokoto and Oyo states.
Ikeazor also noted that the Ministry has established a Nigeria Circular Economy Programme (NCEP) which provides a framework for circular solutions and circular business models.