A transformative hybrid energy project at a significant Nigerian airport has already been discussed with the Federal Government, which has engaged international financial institutions to secure more than $60 million in climate finance.
The facility could serve as a model for the use of clean, affordable, and digitally monitored energy across other important public infrastructures.
At the State House Conference Center Abuja’s Decarbonizing Infrastructure Summit, Vice President Kashim Shettima made the disclosure. The summit sought to bring climate finance into play for long-term development.
He urged Nigeria to make the transition to a low-carbon economy a priority in order to address the threat posed by climate change.
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Shettima, the vice president, warned that the country’s development goals and economic prospects would be hampered if more action was taken in response to the country’s growing climate challenges.
“We can no longer delay,” He asserted that climate change is an economic necessity as well as an environmental necessity.
Shettima explained that the key infrastructure sectors, including energy, transportation, agriculture, and urban development, which are essential to the nation’s economic life, account for more than 75% of Nigeria’s greenhouse gas emissions.
Without urgent intervention, he claims, Nigeria’s projected population boom, which will reach 440 million by 2050, could strain resources and worsen environmental degradation.
“The industries that sustain our livelihoods are also the ones that contribute most to our emissions.” He added that investing in Nigeria’s prosperity is the only way to decarbonize.
The Vice President cited a number of government-backed initiatives aimed at boosting climate resilience, including a State Innovation Challenge Park, regional climate engagement clinics, and a brand-new white paper on green growth financing, as well as a new white paper on green growth financing.
“Our transition must not be exclusive. Every state, every neighborhood, and every home must be served by it. Integrity is the foundation, he said, not an afterthought.
He advocated for the implementation of innovative financing models like green bonds and climate investment funds to support local solutions and scale climate-smart technologies, as well as policy harmonization across all levels of government.
Source: Channels TV
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