President Muhammadu Buhari has said his signing of the Paris Agreement on Climate Change has demonstrated Nigeria’s commitment to a global effort to reverse the effects of the negative trend.
A statement by the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, said the president spoke this while addressing the opening of the meeting on Taking Climate Action for Sustainable Development in New York, co-hosted by Nigeria and the United Nations Environment Programme (UNEP) as one of the side events of the 71stSession of the United Nations General Assembly (UNGA71).
Buhari had, shortly before this event, signed the Paris Agreement, where he committed Nigeria to reducing “Green House Gas Emissions unconditionally by 20 per cent and conditionally by 45 per cent in line with Nigeria’s Nationally Determined Contributions.”
Describing the signing as historic, he had also expressed confidence that with support from development partners, Nigeria would meet the above targets.
The president also promised to ensure the ratification of the Paris Agreement before the 22nd Conference of Parties to the UN Framework Convention on Climate Change in Marrakesh, Morocco in November 2016.
He stressed that it was to demonstrate his personal dedication to the process of implementing the agreement that he was hosting the side event on ‘Taking Climate Action Towards Sustainable Development.’
Buhari, who said he was privileged to have been part of the Paris Agreement, expressed appreciation to what he called “the genuine efforts by President Francois Hollande of France in drawing global attention to reviving the Lake Chad Basin,” and for galvanising the political will that led to the global consensus in reaching the Paris Agreement.
The president said his country’s commitment to the Paris Agreement was articulated through its Nationally Determined Contributions (NDCs) “that strive to build a climate resilient society across the diverse terrain of Nigeria. We have instituted an Inter-Ministerial Committee on Climate Change to govern implementation of my country’s NDCs, thereby ensuring a strong cross-sectoral approach, coherence and synergy for Climate Action.”
Buhari, while admitting that implementing the roadmap would not be easy in the face of dwindling national revenues, however, indicated that both internal and external resources would be mobilised to meet Nigeria’s targets, adding that the 2017 budget would reflect Nigeria’s efforts to accord priority to realising its NDCs.
“In addition, we are set to launch our first ever Green Bonds in the first quarter of 2017 to fund a pipeline of projects all targeted at reducing emissions towards a greener economy,” he said.
While urging global support to transit to a low-carbon climate resilient economy, the president specifically reminded industrialised nations “to play their role and deliver on their commitments on access to climate finance and technology transfer and help with capacity-building,” adding that, “Expectations are high for their leaders to deliver US$100 billion each year by 2020 in support of developing countries to take climate action, thus keeping the promise to billions of people.”