EcoNewsNigeria

  By Hamza Badamasi The federal government has unveiled its energy transition strategy as a key step toward universal energy access by 2030 and a carbon-neutral economy by 2060. Vice President Yemi Osinbajo stated during a virtual launch of the country's energy transition road map that Nigeria needs at least an extra $10 billion annually and a total of $410 billion to achieve its net-zero targets by 2060. According to a government statement, Nigeria has already received a $1.5 billion pledge from the World Bank and is currently in negotiations with the US Export-Import Bank for an additional $1.5 billion. He stated that the plan will, among other things, lift 100 million people out of poverty, reduce Nigeria's carbon footprint, drive economic growth, and create jobs.   "For Africa, the problem of energy poverty is as important as our climate ambitions. Energy use is critical for almost every aspect of development; wealth, health, nutrition, water, infrastructure, edu...

  By Hamza Badamasi The Federal Government has officially launched the Emissions Trading Scheme (ETS) to meet its net zero carbon emission targets. The Minister of Environment, Mohammed Abdullahi , stated at the Official Flag-off Event on the Development of Nigeria's Emissions Trading Framework in Abuja on Tuesday that the Federal Government had decided to establish a trading scheme, with legal framework provided in the Climate Change Act of 2021 for the reduction of greenhouse gas emissions through a cap and trade-based emissions trading schemes to meet the net zero target. “This flag-off event signals the commencement of activities that would lead to the establishment of the Nigeria Emission Trading Scheme (ETS), sensitize the public, and ensure coordination with other relevant arms of government/development partners under the leadership of the Federal Ministry of Environment with active collaboration of the Federal Ministry of Trade and Industries.” Mr. Abdullahi said. Mr....

By Hamza Badamasi China's decision to end climate talks with the US is yet another setback for global warming efforts, which have already been hampered by the oil crisis and Russia's invasion of Ukraine. The visit of Nancy Pelosi, the speaker of the US House, to Taiwan, which Beijing claims as its territory, has strained relations between the world's biggest two greenhouse gas emitters. This occurred three months before a major United Nations summit on global warming. One hopes that the schism is only temporary. ___ On Friday of last week, China's foreign ministry declared that it was halting talks and collaboration with the US on a number of issues, including crime, undocumented immigration, and climate change. Chinese resentment over US House Speaker Nancy Pelosi's travel to Taiwan, which Beijing claims as its territory, caused the damaging schism, which poses a serious geostrategic risk. Beijing's decision further complicates global climate change negotiation...