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    Taxing, Borrowing the Future Without Building: What has Nigeria’s fiscal authority done for the real sector?

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Home Brands and Marketing

Nigeria inaugurates long term low emission development strategy at COP28

by Worldstage News
December 2, 2023
in Brands and Marketing, Energy, NIGERIA
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WorldStage Newsonline– Nigeria has unveiled its Long Term Development Strategy at COP 28 holding in Dubai.

Prof. Chukwumerije Okereke, the Director, Centre for Climate Change and Development,  Federal University, Ebonyi in a statement said with the unveiling, Nigeria had achieved another major milestone in its effort to achieve a net zero carbon economy by 2060.

He said that the event which was graced by dignitaries and delegates from different countries around the world was held at the prestigious African Pavilion in the Blue Zone.

Okereke said the event was moderated by Dr Eugene Itua, the Executive Director of the Natural Eco-Capital, the organisation that coordinated the development of the LT-LEDS .

According to him, the LT- LEDS started under the supervision of the Department of Climate Change, Federal Ministry of Environment and concluded under the auspices of the National Council on Climate Change.

He quoted the Director-General of the National Council on Climate Change (NCCC), Dr Salisu Dahiru as saying Nigeria was proud to inaugurate the LT-LEDS guaranteed to support sustainable development and climate resilient economy for Nigeria.

Dahiru was represented by Ms Halima- Bwa-Bari.

The Minister of Environment, Mr Balarabe Lawal said that the LTS was an important milestone in Nigeria’s effort to implement the country’s net-zero pledge made at COP26 in Glasgow.

Represented by the Minister of Aviation and Aerospace Mr Festus Keyamo (SAN), Lawal said that Nigeria was committed to pursuing the transition from a fossil fuel dependent economy to a low carbon future in keeping with the global trend and the Paris Agreement.

He urged international development partners to support the implementation of the LT-LEDS.

The Global Director of the Nationally Determined Contribution ( NDC) Partnership, Mr Pablo Vieria, said that Nigeria should be very proud of the accomplishment.

Vieria said that by developing the LTS, Nigeria was joining a distinguished group of countries that were exhibiting leadership in developing a clear strategy to decarbonise their economies in response to global climate change.

He urged the country to take the next step in adopting the LT-LEDS and pledged the NDC Partnership’s cooperation in this regard.

The Head Climate and Nature at the French Development Agency (AFD), Ms Mathide Bord-Laurans, congratulated Nigeria on inaugurating the LT-LEDS.

Bord-Laurans said that AFD was delighted to have provided support to the Centre for Climate Change and Development, Alex Ekwueme Federal University.

This he said was done under the Nigeria Deep Decarbonisation Project (DDP) which enabled the Centre to lead the creation of scenarios and the modelling work that went into the development of the LT-LEDS.

She pledged the commitment of the bank to stand firmly by Nigeria and support investments that were geared toward implementation of the LT-LEDS.

Mr Richard Baron, the Executive Director of the 2050 Pathways Platform, expressed joy at having assisted Nigeria in the design of the LT-LEDS and the precursor document, the Long Term Vision (LTV).

Baron said that the LT-LEDS was developed in collaboration with a wide spectrum of stakeholders, making it a truly national document of which Nigeria could be proud of.

He expressed delight that the modelling work for the LT-LEDS was done by Nigerian academics at the CCCD-AEFUNAI, led by Okereke.

He also praised the collaboration between the Nigeria Deep Decarbonisation Project, the 2050 Pathways, the National Council on Climate Change, and Natural Eco-Capital, which resulted in the creation of a high-quality document.

In his closing remarks, the Director,- General of the NCCC, Dahiru, said all hands should be on deck to ensure that the document does not sit on the shelf but that the many projects identified in the documents were translated into practical investments.

He said that the two important next steps were the creation of an LT-LEDS Implementation Plan and the mobilisation of capital from domestic and internal sources to implement the LT-LEDS.

Miss Chioma Amudi, Desk Officer at the NCCC said that translating the LT-LEDS into investments would require finance, effective stakeholder engagement, and adequate institutions among other key factors.

Hon. Terseer Ugbor, the Deputy Chairman House Committee on Environment, Federal House of Representatives pledged the support of the parliament in implementing the LTS.

Tags: COP 28Prof. Chukwumerije Okereke
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