The Director General of the National Council on Climate Change Council , Salisu Dahiru, has explained that the “carbon trading” scheme captured under the country’s climate change Act will address some of the climate challenges in Nigeria.
The official noted that carbon pricing is one of the foundational works needed to prepare Nigeria for participating in the emissions trading scheme and that the process had begun. He said: “Carbon trading is not going to be limited only to the NCCC but to all the MDAs or sectors interested in pursuing projects that can end carbon credit.”Less than a month after Mr Buhari announced a 2060 net-zero emissions target during the COP26 held in Glasgow in 2021, he signed into law the Climate Change Act, which commits the Federal Government to measurable action plans for climate change mitigation and adaptation.
Carbon taxes are environmental taxes levied on precise carbon units by governments to reduce carbon emissions from producing or consuming goods and services.estimates, as of May 2021, 33 carbon taxes had been implemented by countries, including South Africa, to serve as a financial tool to fight climate change.
On 24 August 2022, Nigeria launched the Energy Transition Plan , a multipronged strategy developed to achieve net-zero emissions from the nation’s energy consumption.Mr Dahiru expressed optimism that the workshop would facilitate one of Africa’s robust carbon trading systems and lay the foundation for stakeholders in Nigeria to work towards achieving this target.