Tinubu Approves National Carbon Market Framework
President Bola Tinubu has approved a National Carbon Market Framework, a strategic move to position Nigeria in the global carbon trading economy. The approval, granted at a meeting of the National Council on Climate Change, is expected to unlock significant revenue for the country. The initiative could generate between $2.5 billion and $3 billion annually in carbon finance over the next decade. This framework will allow Nigeria to more competitively sell carbon credits on the international market. These credits represent reductions in greenhouse gas emissions, which other countries or companies can purchase to offset their own emissions. President Tinubu, represented by Vice President Kashim Shettima, stated that addressing climate change is an economic opportunity. He emphasized that the move will attract new investments, create jobs, and drive innovation in sectors like energy and agriculture. The government also operationalized the Climate […]