Right now is Wednesday, April 17, 2024.
Nigeria introduced its ‘National Carbon Market Activation Plan’.
In keeping with the press launch “in the bid to create a blueprint to drive an efficient sustainable carbon market ecosystem … initiative to harness Nigeria’s vast carbon potential which exceeds $2 billion … expand our participation in the voluntary and compulsory carbon market”.
Besides that, the plan also intendes to address Nigeria’s carbon footprint. The press release indicates “focus on natural gas as a transition fuel alone site investment in renewable energy sources”. Nigeria’s economy relies heavily on oil.
The Africa Carbon Market Initiative (ACMI) is collaborating and supporting all that. Final 12 months, on March 2023, ACMI published a 12-pages overview indicating the African “huge untapped potential”, as currently only five countries – Kenya, Zimbabwe, Congo (DRC), Ethiopia and Uganda – account for ~65% of carbon credit issuances with over 70% of projects in forestry or land use. In that report, Nigeria was indicated with carbon credits issuances below 3.5 MtCO2e.
Click here to see the members of the Steering Committee of ACMI. Among them ICVCM, Gates Foundation, Bezos Earth Fund and The Rockefeller Foundation.
Still about Africa, a few days ago, at LinkedIn, we posted another thorough white-paper by the African Energy Council on that continent’s potential, titled “Carbon Credit score: Catalyzing Carbon Finance in Africa”. That report quoted the South-South area of Nigeria, its mangrove forests as “world-class for carbon abatement”. Right here the post and right here the white-paper itself.
Click at the image below for the press release from last March 7, 2024 by the Nigerian Government.
Nigeria is the nation with the biggest inhabitants in Africa. In 2023 there have been greater than 223 million inhabitants.
