In an op-ed for CNN, President Bola Tinubu champions the need for African nations, spearheaded by Nigeria, to forge partnerships for a transformative green economy. Tinubu emphasizes that tackling climate change requires a collaborative effort, as he reflects on the pressing issues discussed at the COP28 World Climate Action Summit in Dubai.
Despite facing hurdles such as the impact of the COVID-19 pandemic, economic reforms, and ongoing foreign exchange rate unification, President Tinubu asserts Nigeria’s unwavering commitment to building a cleaner economy. At COP28, Nigeria launched the Nigerian Carbon Market Initiative, aligning with the African Carbon Market Initiative to fulfill its environmental commitments.
Highlighting the disparity in the economic burden of climate change, Tinubu contends that developing nations bear the brunt of the consequences despite contributing minimally to the problem. Calling for a fair and cooperative approach, he challenges developed nations to fulfill their responsibilities.
President Tinubu underscores Nigeria’s strides in combating climate change, citing the enactment of the Climate Change Act and a commitment to achieving net-zero emissions between 2050 and 2070. He praises the nation’s initiative to plant 25 million trees by 2030, engaging thousands of youths to combat desertification in the northern regions.
While acknowledging the challenges of transitioning from fossil fuels, President Tinubu announces Nigeria’s commitment to developing blue and green hydrogen capacity for international export, seeking collaboration with initiatives like the Climate Finance Leadership Initiative and the US and EU global infrastructure programs.
Nigeria eyes the European Union’s Global Gateway program and the U.S. Government’s Build Back Better World initiative as potential resources to facilitate its transition to cleaner energy. President Tinubu aims to diversify the economy by competing with Russia in supplying energy to European markets, emphasizing investments in both natural gas and green energy.
Closing his op-ed, President Tinubu urges developed nations to honor commitments, emphasizing contributions to the Loss and Damage Fund and the $100 billion annual climate financing pledge. He calls for decisive action, declaring, “It is time to seize the moment.”