Firm unveils $144m Jigawa wetland project

Carbon Assets Nigeria Limited has revealed transformative findings from its feasibility study on the Baturiya Wetland Conservation and Restoration Project in Jigawa.

The study highlights an impressive carbon sequestration potential of 11.33 million tons of CO₂ equivalent over the next 50 years.

The project builds on a Memorandum of Understanding signed between Carbon Assets and the Jigawa State Government on July 2, 2024.

Spanning 32,000 hectares across three ecological zones, the initiative involves planting over 4 million trees, with the capacity to generate annual carbon credits of 226,527 tCO₂e. It is expected to yield between $48 million and $144 million in revenue, aligning with Nigeria’s commitments under the Paris Agreement.

Designed to meet global standards such as the Verified Carbon Standard (VCS) and Climate, Community, and Biodiversity (CCB) criteria, the project seeks to attract international investments while conserving critical habitats and supporting local communities.

Chief Operating Officer of Carbon Assets Nigeria Limited, Mukhtar Abdulhameed emphasized the project’s comprehensive impact.

“This project is a vital step toward addressing climate change, enhancing ecosystem resilience, and fostering biodiversity conservation. It also offers substantial benefits to local communities,” he noted.

With the feasibility study complete, Carbon Assets is preparing the Project Design Document and seeking strategic partners to drive implementation.

Abdulhameed emphasized that the initiative underscores the potential of public-private partnerships to combat climate change and promote sustainable development.