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Foundation demands annual funding for Nigeria’s low-carbon economy transition

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As the world marks the global week of action for climate finance and a fossil-free future, Nigerians are joining the global call for climate justice, emphasising the urgent need for increased funding to support the country’s transition to a low-carbon economy.

Smith Nwokocha, Coordinator of quest for growth and development foundation, a non-governmental organisation advocating for sustainable development, emphasised the gravity of the situation.

“Climate change is no longer a distant threat; it’s a harsh reality for Nigerians. Rising temperatures, devastating floods, and droughts are crippling our economy and threatening livelihoods. The Global North must take responsibility for their historical emissions and provide at least $5 trillion annually to support our transition to a low-carbon economy,” Nwokocha said.

Nwokocha’s organisation, with support from Climate Action Network International (CAN-Intl) and Africans Rising, hosted a community event in Oroworukwu Community Phalga LGA Port Harcourt, Rivers State, Nigeria to raise awareness and mobilize action.

“The Nigerian government has made commitments to address climate change, but we need to see tangible actions. We demand increased funding for climate resilience, renewable energy, and sustainable agriculture. Our future depends on it,” Nwokocha added.

The global campaign, running from September 13-20, seeks to hold governments accountable for their climate finance commitments. Activists and civil society organizations worldwide are pushing for increased climate finance, non-debt-creating finance, and predictable and adequate finance for mitigation, adaptation, loss, and damage.

Nigeria, being one of the countries vulnerable to climate change, has established a policy landscape dedicated to planning for and responding to climate change. However, the country still needs to ensure prospective growth follows a low-emissions development pathway.

“The impacts of climate change are far-reaching, affecting agriculture, health, and infrastructure. We need climate-resilient infrastructure, climate-smart agriculture, and climate-informed health systems,”.

Climate experts emphasize that Nigeria’s energy sector is critical to reducing greenhouse gas emissions.

“Nigeria must transition from fossil fuels to renewable energy sources like solar and wind. This requires significant investment, but the long-term benefits far outweigh the costs,”.

The global community recognizes the need for climate finance. At COP29 in Baku, critical decisions will be made to address the soaring costs of urgent climate action.

“The Global North’s claim of insufficient resources for development and climate finance is fundamentally flawed. During the COVID-19 pandemic, these governments mobilized trillions in fiscal stimulus. The same financial commitment must be made to address the existential threat of climate change,” Nwokocha stressed.

Quest For Growth and Development Foundation and partners are mobilizing Nigerians to demand climate justice.

“We urge the Nigerian government to prioritize climate action, increase funding for climate resilience, and ensure a just transition to a low-carbon economy. We will continue to push for climate justice until our demands are met,” Nwokocha concluded.

The Global Week of Action for Climate Finance and a Fossil-Free Future is a global campaign demanding increased climate finance from the Global North, an end to fossil fuel subsidies, and a transition to renewable energy.

Nigeria’s climate change policy framework includes the National Climate Change Policy (2020) and Nationally Determined Contributions (NDCs).

The Global North’s historical emissions have contributed significantly to climate change, and it is essential that they take responsibility for their actions.

Nigeria’s climate change impacts are severe, with rising temperatures, devastating floods, and droughts affecting agriculture, health, and infrastructure.

Climate experts recommend transitioning to renewable energy, building climate-resilient infrastructure, promoting climate-smart agriculture, and developing climate-informed health systems.

The Global Week of Action for Climate Finance and a Fossil-Free Future highlights the urgent need for climate justice. Nigerians demand increased funding to support the country’s transition to a low-carbon economy. The global community must prioritise climate action, ensuring a sustainable future for all.

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