Nigeria’s journey towards mitigating climate change and achieving its Nationally Determined Contributions (NDCs) under the Paris Agreement is crucial for the country’s sustainable development. However, the current estimation process for NDCs may be overlooking significant projects that could substantially impact greenhouse gas emissions reduction. This article highlights key projects that must be captured in Nigeria’s NDC 3.0 to ensure accurate estimation of carbon footprint reduction, carbon credit generation, and ESG impact projection.
Key Projects to be Captured
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Lagos-Calabar Coastal Road Project: Reduces travel time, promotes economic growth, and potentially decreases emissions from transportation.
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President’s Initiative on Compressed Natural Gas (CNG): Supports low-carbon fuels, reduces emissions, creates jobs, and alleviates poverty.
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$60 Billion Bullet Train Project: Powered by Gas-to-Power energy, reducing reliance on older locomotives and mitigating emissions.
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Trinidad and Tobago to Nigeria Aviation Hub Agreement: Optimizes flight routes, reduces travel time, and potentially lowers emissions from aviation.
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Mini-Solar Grid Deployment: Provides alternative power sources for MDAs, universities, and polytechnics, reducing reliance on fossil fuels.
Consequences of Not Capturing These Projects
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Inaccurate NDC Estimation: Nigeria’s NDC might be underestimated, potentially affecting its ESG status and access to climate finance.
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Lost Opportunities for Carbon Credits: Failure to capture these projects could result in missed opportunities for generating carbon credits, which could attract additional funding and investment.
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Impact on Project Investment and Funding: Inaccurate estimation of carbon footprint reduction might deter investors and impact funding for these projects.
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Marketing and Promotion Challenges: Without capturing these projects, Nigeria might struggle to showcase its climate mitigation efforts, potentially affecting its international reputation and access to climate finance.
Comparative Situations
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South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP): Successfully attracted private sector investment and reduced greenhouse gas emissions.
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Kenya’s Green Economy Strategy: Aims to transition to a low-carbon economy, promoting sustainable development and climate resilience.
The Way Forward
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Global Partnerships: Nigeria needs global partners to support the implementation of its NDCs, particularly in areas requiring technical assistance.
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Project Identification and Estimation: All MDAs and private entities should identify projects with carbon footprint reduction potential and estimate their greenhouse gas emissions reduction.
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Capacity Building: Enhance the capacity of relevant agencies, such as the Nigeria Climate Change Commission (NCCC), to accurately estimate and project carbon footprint reduction.
By capturing these key projects in Nigeria’s NDC 3.0, the country can unlock its climate potential, attract investment, and promote sustainable development. It’s time for Nigeria to showcase its climate leadership and commitment to a low-carbon future.