Tinubu’s Approval Of National Carbon Market Framework Will Boost Nigeria’s Climate Finance — Onuigbo

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A prominent member of the Governing Board of the North East Development Commission (NEDC), Rt. Hon. Sam Onuigbo, has applauded President Bola Ahmed Tinubu for approving the adoption of a National Carbon Market Framework, the operationalisation of the Climate Change Fund, and the return of the National Council on Climate Change (NCCC) to the national budget line.

Speaking with journalists in Abuja on Friday, Onuigbo said the decision is a major milestone that should excite Nigerians, particularly as the 30th session of the United Nations Climate Change Conference (COP30) in Brazil draws near.

Onuigbo, a former member of the National Assembly who gained national visibility for sponsoring the Climate Change Act 2021, described the move as a strategic step that will enhance Nigeria’s participation in global carbon markets.

The Street Reporters Newspaper reports that he noted that with this approval, the country stands a realistic chance of unlocking between $2.5 billion and $3 billion annually in carbon finance over the next decade to advance national climate targets.

According to him, Nigeria has now been properly positioned to fully leverage opportunities in the global carbon trading space and take a more active role in the climate change ecosystem — an advocacy he has championed consistently for years.

“Nigerians should be excited because they can now look forward to new investments, jobs and innovations across the nation’s energy, agriculture and industrial sectors,” he said.

Onuigbo is a chieftain of the All Progressives Congress (APC) and has remained a reference point in Nigeria’s climate policy architecture. In May 2023, he was inducted into the first-ever National Assembly Most Valuable Parliamentarian Hall of Fame, emerging as one of only five out of the 469 lawmakers of the 9th Assembly to earn the honour — and the only one from Southern Nigeria.

He was selected based on the qualitative impact of his legislative contributions, especially the Climate Change Act 2021, which is considered globally relevant and capable of underpinning Nigeria’s sustainable development trajectory.

Onuigbo previously served as Special Adviser on Public Affairs in the Office of the Speaker of the 6th House of Representatives. In Abia State, he held the offices of Commissioner for Lands and Survey and later Commissioner for Finance.

He was also the first Representative from his constituency to earn a re-election to the House of Representatives.

On the global stage, Onuigbo has held notable leadership roles in climate governance. In 2019, he was elected Vice-President (Africa) of the Global Legislators for a Balanced Environment (GLOBE) International — becoming the first Nigerian to achieve that status.

He also served as President of GLOBE Nigeria after earlier serving as Vice-President between 2016 and 2019, and was Chairman of Climate Parliament, Nigeria.

StreetReporters.ng

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