Nigeria making investments towards climate finance - CNBC Africa

Nigeria making investments towards climate finance

Western Africa

by CNBC Africa Reporter 0

Nigeria making investments towards climate finance. Photo: Wikipedia

Nigeria’s Ministry of Environment is making plans to attract more climate finance to help meet objectives from COP 21 in Paris.

Amina Mohammed, Nigeria's Minister of Environment spoke to CNBC Africa about what strides the country has made in the last five-months and future plans.

"After the Paris agreement we had to take a look at those conditional and unconditional opportunities... so looking at the economy, the regulatory framework but also some of the climate actions we need to take, both the forestation and with some of the coastal issues  that we have in the Niger Delta,” said Amina Mohammed, Minister of Environment for Nigeria.

 

Mohammed says the  ministry has also looked at some of the incentives it needs to end gas flaring and emissions, as well as the energy mix in the country - which is moving from fossil fuels to renewables.

"This is still very much a work in progress, but what is very clear is we know the infrastructure investments that we need to make include power, and falls at least for now we are looking at fossil fuels but there is a renewable energy strategy for which the Minister of Power is looking at.”

She says that means moving towards solar, wind and hydro power, then making sure that all parts of the country are reached in the diversification of the economy.

"In the Ministry of Environment we are looking at the Great Green Wall which is part of the African Union initiative - it goes across 11 states, 49 local governments," she said.

Over 40 million people could benefit from a green wall, because the planted trees would have economic value and provide opportunity for employment.

"The environment ministry is in the year of transition, I think it is very important that we plan and that we find the synergies and the coherence with other sectors as to what we begin to invest in in the coming years," said Mohammed.

She adds: "I believe that we put investments in place in the budget this year for infrastructure for security and for jobs for people that are important and what we have done is to inform those plans as we go looking to the bigger investments that we will need to leverage for 2017 through this administrations time."

Comments