By Hosea Parah, Abuja

The Federal Ministry of Environment in Nigeria is making significant strides in addressing climate change as a developmental issue with vast benefits. The Minister of State for Environment, Dr. Iziaq Adekunle Salako, emphasized that climate change goes beyond just environmental concerns and has extensive economic and social implications.

During the Inter-Ministerial Committee on Climate Change Meeting/Green Bond Program in Abuja, held from February 21st to 22nd, 2024, Minister Salako highlighted the importance of recognizing the economic, social, and ecological challenges facing the nation. He emphasized the role of the Green Bond issuance in the country’s low-carbon pathway and stressed the need for collaboration among stakeholders for the successful implementation of the Green Bond program.

The Permanent Secretary, Mahmud Adam Kambari, commended the successful funding of projects in key sectors such as Environment, Energy, Agriculture, Transport, and Water through the Sovereign Green Bond issuances. The projects funded have led to tangible environmental benefits, including renewable energy generation, afforestation programs, and significant emission reductions.

Acknowledging the crucial support from stakeholders such as the Debt Management Office, Budget Office of the Federation, and the World Bank through the ACReSAL Project, the Ministry expressed gratitude for their contributions to the Green Bond program.

Nigeria’s pioneering role as the first country in Africa and the fourth globally to issue a Sovereign Green Bond demonstrates its commitment to sustainable development. The country’s efforts in leveraging green finance for impactful projects set a positive example for climate action on the continent.

The collaboration and dedication of all stakeholders involved in the Green Bond program are essential in achieving the set objectives and advancing Nigeria’s climate resilience and sustainable development goals.