Nigeria’ll use climate change crisis to reshape economy – Tinubu

The President made the declaration in his keynote address at a product launch by NETZENCE Sustainability Limited, a sustainability technology and management company.

He said that rising temperatures, extreme weather events and shifting rainfall patterns are threatening the foundation of Nigeria’s development and the well-being of its people.

President Tinubu, who was represented by the Minister of Science, Technology and Innovation, Dr. Uche Nnaji, while speaking on the theme, ‘Accelerating Nigeria’s Net Zero Target and Carbon Market Ecosystem with Netzence Sustainability Limited,” said within the challenge, there is a tremendous opportunity to reshape the nation’s economy, embrace sustainable development, and position Nigeria as a leader in the global fight against climate change.

According to him, “Nigeria, like many other nations, is already witnessing the devastating impacts of climate change. Rising temperatures, extreme weather events, and shifting rainfall patterns are affecting our communities, our agriculture, and our economy.

“These changes threaten the very foundation of our development and the well-being of our people.

“Yet, within this challenge lies a tremendous opportunity to reshape our economy, embrace sustainable development, and position Nigeria as a leader in the global fight against climate change.”

The President explained that Nigeria has set an ambitious target: to achieve net zero emissions by 2060.

“This is not just a target; it is a commitment to future generations, a commitment to protect our environment, and a commitment to drive economic growth sustainably,” he affirmed.

They include the Nigerian Carbon Market Initiative, the Green Bond Initiative, its National Council on Climate Change and Renewable Energy Policy.

“But our journey does not end here,” he stated, adding that “to truly accelerate our net zero target, we must focus on several critical areas.”

These areas, according to Tinubu, comprise clear and consistent policies and regulations, a robust carbon pricing mechanism, massive mobilisation of green finance, embracing new technologies and driving innovation and strengthening partnerships with other nations, international organisations, and the private sector to “share knowledge, attract investment, and open new markets for Nigerian products and services.”

“By focusing on these areas, Nigeria can achieve its net zero target, reduce greenhouse gas emissions, and contribute meaningfully to global climate efforts.

“But the benefits do not stop there. As we transition to a low-carbon economy, we will create new economic opportunities, generate jobs, and improve the quality of life for all Nigerians,” the President concluded.

Tinubu also commended Netzence Sustainability Limited for “taking the lead on this noble journey.”

He assured the company that “The Federal Government through the Ministry of Innovation, Science and Technology, and other MDAs and Agencies will collaborate with you in pioneering solutions that will accelerate Nigeria’s path to Net Zero.”

In his technical remarks, the Founder and CEO of Netzence Sustainability Limited, Dr. Sadiq Sani, briefed stakeholders about the new product, CloseCarbon, a Carbon Footprint tracking System.

Sani said CloseCarbon “effortlessly tracks, monitors, and calculates your carbon footprint, contributing to a more sustainable future.”

He affirmed that NETZENCE is poised to assist the government in achieving the 2030 emission reduction target, 2050 and 2060 Net Zero targets and the United Nations Sustainable Development Goals.

“Our cutting-edge solutions will empower Nigeria to meet its Nationally Determined
Contribution goals, aligning with global net-zero targets,” said Sani.

This will be achieved by real-time insight on NDC, emission reduction management and promoting sustainable sector-based practices.

He explained that the product was born from an industry-wide survey that revealed a shortage of verifiable data to back emission reduction claims.

Sani also promised free onboarding for individuals and companies open to adopting its new products.

“The CloseCarbon, which has been launched today, will be actively available for individuals to come on board, register on the platform, and we can onboard you.

“And we made a promise…for every individual, we onboard to ClosCarbon is free for every individual to use. So our technologies that we have built and designed is completely free for everybody,” he added.

Speaking in an interview, the Chief Operations Officer, Idia Okundaye-Ogedegbe, said, “We are proud that our software was fully developed by Nigerians and in our employment we have developers who are home grown and that’s one of the achievements we want to put forward and the laudable achievements of the President and Commander-in-Chief of the armed forces Asiwaju Bola Tinubu for his initiative and what he is doing in carbon space.”

In attendance were the Minister of Science, Technology and Innovation, Dr. Uche Nnaji, former Governor of Niger State, Abubakar Bello; General Manager of the Niger Delta Power Holding Company, Prof Stephen Ogaji; Project Manager for the GEF-UNDP Africa Minigrids Project Nigeria, Dr. Bala Tyoden, Chairman Mainstream Col. Sani Bello, Senator Sani Bello, Nonye Obibuaku- CFO Azura Power, Dr. Bala Tyoden – Project Manager, for the GEF-UNDP Africa Minigrids Project Nigeria
Alhaji Lawal Garba, Chairman of the Board of Directors, Jos Disco, Ibrahim Bello and representatives of the Office of the Vice President, key partners, among others.