TheCable

President Bola Tinubu has announced plans to deploy 100 electric buses for carbon reduction and modernisation of the transportation system in Nigeria.

In a statement on Saturday, Tinubu spoke at a high-level meeting with stakeholders and investors on the Nigeria carbon market and electric buses rollout programme held in Dubai, United Arab Emirates (UAE) at the ongoing COP28.

He said the initiative is part of the efforts to position “Nigeria and Africa as the pioneering frontier of green manufacturing and industrialisation”.

The president said the Nigeria carbon market activation plan is expected to focus on natural gas as a transition fuel, together with other renewable energy sources.

He said the transformative programme would be headed by Zacch Adedeji, chairman of the Federal Inland Revenue Service (FIRS), and Dahiru Salisu, director-general of the National Council on Climate Change (NCCC).

”This initiative stands as a testament to our dedication to environmental stewardship as clearly exemplified through our collaboration with the Africa Carbon Market Initiative,” Tinubu said.

“Our visionary plan is a strategic guidepost, directing Nigeria towards becoming an investment-friendly destination for carbon market investments.

”We recognize the imperative of fostering an environment that not only attracts investment but also upholds standardized and sustainable industrial practices.

“As a manifestation of our forward-thinking approach, we are actively looking to implement robust, enabling policies and frameworks that will serve as the catalyst for the burgeoning growth of the carbon market within our national borders.

”In further driving my commitment, I have recently approved an Inter-governmental committee on carbon markets to be chaired by the executive chairman of the Federal Inland Revenue Service and the director-general of the National Council on Climate Change to drive this visionary plan.

”It is a concrete manifestation of our unwavering dedication to a carbon-neutral future. I assure you; this is only the commencement of our ambitious plans, with many more impactful initiatives on the horizon.

”As we unveil our initiatives, I challenge other nations to emulate our strides in mapping out their sustainable futures with a clear understanding that Africa is a beacon of innovative solutions to climate-related challenges.

”In this pursuit, we acknowledge the pressing need for comprehensive global collaboration, and we reiterate our commitment to being an active participant in international efforts.

”Nigeria’s plans for a greener and cleaner economy can serve as an inspirational narrative for nations worldwide.

“Our comprehensive approach, rooted in visionary leadership and pragmatic action supported by our technical partners, is poised to become a blueprint for countries aspiring to also develop and catalyze their markets for sustainable growth.”

The president assured prospective investors that the initiative would go beyond “a mere pilot project”.

He called on global partners to collaborate on addressing climate-related challenges and improve efforts towards achieving a net-zero future.