In a significant stride towards a sustainable and eco-friendly future, Nigeria’s President Bola Tinubu has announced plans to roll out 100 electric buses during the COP28 climate summit in Dubai.
Described as a “pioneering initiative,” this move aims to substantially reduce Nigeria’s carbon footprint and modernize the nation’s transportation systems.
President Tinubu highlighted the groundbreaking nature of the initiative, emphasizing its role in environmental stewardship and collaboration with the Africa Carbon Market Initiative. The visionary plan is positioned to guide Nigeria towards becoming an investment-friendly destination for carbon market investments.
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Acknowledging the imperative of fostering an environment that attracts investments and upholds standardized and sustainable industrial practices, Tinubu expressed the commitment to implementing robust policies and frameworks. These initiatives aim to catalyze the burgeoning growth of the carbon market within Nigeria’s national borders.
”This initiative stands as a testament to our dedication to environmental stewardship as clearly exemplified through our collaboration with the Africa Carbon Market Initiative. Our visionary plan is a strategic guidepost, directing Nigeria towards becoming an investment-friendly destination for carbon market investments,” presidential spokesman Ajuri Ngelale quoted his principal as saying.
”We recognize the imperative of fostering an environment that not only attracts investment but also upholds standardized and sustainable industrial practices. As a manifestation of our forward-thinking approach, we are actively looking to implement robust, enabling policies and frameworks that will serve as the catalyst for the burgeoning growth of the carbon market within our national borders.”
To oversee the Nigeria Carbon Market Activation Plan, President Tinubu appointed Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service (FIRS), and Dahiru Salisu, the Director-General of the National Council on Climate Change (NCCC), as co-chairs. This move aligns with broader efforts to position Nigeria and Africa as pioneers in green manufacturing and industrialization.
Tinubu urged other countries on the continent to follow Nigeria’s lead, presenting the nation as a beacon of innovative solutions to climate-related challenges. He challenged nations worldwide to emulate Nigeria’s strides in mapping out sustainable futures, emphasizing the country’s plans for a greener and cleaner economy as an inspirational narrative.
The president emphasized the comprehensive approach rooted in visionary leadership, pragmatic action, and technical partnerships. He positioned Nigeria’s initiatives as poised to become a blueprint for countries aspiring to develop and catalyze their markets for sustainable growth.
“Our comprehensive approach, rooted in visionary leadership and pragmatic action supported by our technical partners, is poised to become a blueprint for countries aspiring to also develop and catalyze their markets for sustainable growth,” the president added.
While Tinubu’s announcement signals a strong commitment to environmental responsibility and positions Nigeria as a leader in embracing innovative solutions for a greener future, concerns remain about the sustainability of the initiative. The concerns emanate from Nigeria’s infrastructural deficiency – particularly in the power sector.
For decades, Nigeria has been grappling with unstable electricity supply – stymieing its economic development. Thus, questions have surrounded the nation’s ability to sustain electric vehicles projects.