Nigeria Committed To Building Strong Carbon Market: DG NCCCS

Director-General, National Council on Climate Change Secretariat, NCCCS, Dr. Nkiruka Maduekwe stated this at the ongoing “Carbon Market Activation Workshop” in Abuja the nation’s capital.

She said the workshop tagged “3-Day Stakeholders Engagement on Nigeria’s Carbon Market Policy and Manual of Procedure” is designed to catalyse Nigeria’s transition into a thriving carbon market.

“The workshop seeks to sensitive 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.” She said.

Dr Maduekwe also noted that the  workshop aligns with Nigeria’s commitment to sustainable development, carbon emission reduction, and the attraction of global investments.

Speaking at the training, 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.

“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.” He said.

He said the Niger State governor is looking inward to see how the State can leverage on  carbon financing through the creation of green bonds.

“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.” He said.

The Jigawa State Commissioner of Environment and Climate Change and Chairman of the Commissioners Forum, Dr. Nura  Kazaure said  the State government will leverage on the three-day workshop to take home and start developing apparatus and a lot of methodologies.

According ro him “this training will enhance solar projects, afforestation projects, alternative cooking techniques using cookstove and a lot of things being executed in the states.”

“And we really thank the NCCC for organising such an event. And most importantly, calling on commissioners to come around.” He said.

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

The 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 UNDP, the EU, UK government and others.

The Carbon Market Activation Workshop will help  Environment Commissioners to harmonise all activities in terms of carbon financing and credits.

Carbon market is a trading system that allows governments and other actors to buy and sell greenhouse gas emission credits.

The goal of carbon markets is to achieve climate targets, implement climate actions cost effectively, meet national limits on emissions, and integrate environmental costs into business decisions.