The Federal Government says it has put everything in place to benefits from the over $5 billion commitments for its climate action at the ongoing climate change conference also known as COP28 in Dubai.
Director-General, National Council on Climate Change (NCCC), Dahiru Salisu, who made this known on Wednesday at an event organised to mark the Nigeria Day at the ongoing conference, said the funds came from the Government of the United States.
He said $3 billion of the funds is for the recapitalisation of the Green Climate Fund, while the remaining $2 billion is for adaptation fund.
Dahiru noted that the country had also secured additional $560 million for loss and damage, a fund operationalised as compensation for climate induced disasters.
Since the beginning of the conference, he said, Nigeria had signed Memoranda of Understanding with Siemens of Germany as well as Infracorp to produce solar panel in Nigeria.
This, he said, would create jobs for Nigerians and reduce capital flight.
According to him “We are proud to announce that on the first day of COP28, Nigeria long term loan initiative strategy was actually launched and we are depositing with the UNFCCC in fulfilment of the requirement under the Paris Agreement.
“We have take the internal stocktake of the climate situation in Nigeria to have total and holistic picture of state of climate change action and agree on how best to collectively in a complimentary manner work towards achieve this and delivering result on the ground for us that will also assist us.
“Carbon Market Development Framework, which again in this COP28 three days ago, President Bola Tinubu gave a marching order for the activation of the carbon market to take place immediately,” he said.
The NCCC boss refuted a report going round that delegates had come for shopping and site seeing, saying business at climate conference was all round negotiation to secure commitment and funding for Nigeria’s climate action plan.
“This will enable Nigeria to attract complementary activities, projects, commitment and funding.
“No site seeing and shopping in the agenda of the council. All delegates are engaged in negotiations that will help Nigeria in seeking funding for its climate adaption plan,” he said.
By Dare Akogun
