CARBON MARKET ECOSYSTEM: SOMETHING FOR EVERYONE!
KEY TAKEAWAYS Nigeria’s carbon market potential is estimated at 87.2 to 124.7 million metric tonnes of CO2 equivalent (MtCO2e) from reduction or removal projects. The cumulative potential market value is projected to be between 736 million USD and 2.5 billion USD by 2030. Despite wide challenges in setting up and operationalizing a carbon market system, several opportunities for advancement abound for various stakeholders through participation, collaboration and commercialization of services. The carbon market supports innovative […]
Climate Finance and Emerging Issues from COP 29: What Next for Nigeria?
KEY TAKEAWAYS: COP29 set new, ambitious financial goals, including tripling the annual climate finance commitment for developing countries to $300 billion and aiming to mobilize $1.3 trillion annually by 2035. The Loss and Damage Fund, established during COP27, was further operationalized at COP29. This fund aims to assist vulnerable countries in dealing with climate-related disasters. COP29 made progress in refining international carbon market rules to enhance environmental integrity and prevent double-counting, which is vital for […]
Unregulated Drilling of Water Wells in Nigeria: Risks, Regulatory Challenges and Strategic Way Forward.
The Linkages Between Climate Change and Watershed Development in Nigeria
Key Takeaways Climate change exacerbates water scarcity and water related hazards. Watershed management guarantees water and soil conservation for food and water security. Healthier watersheds support ecosystems and advance climate change resilience Development projects should incorporate watershed management into their program design to support climate change resilience. Nigeria has about 277 watersheds with only 57 of them prime for development under sustainable management practices to foster climate resilience. INTRODUCTION In 2012, Nigeria suffered an estimated […]
Flooding in Maiduguri, Borno State: A Complex Interaction of Natural and Human Factors
Location Maiduguri Metropolitan Council, Jere and Konduga, Borno State, Nigeria Incident Date Tuesday, September 10, 2024 Background Nearly a week after the flood incident in Borno State which flooded Maiduguri and its environs, the magnitude of devastation has left observers and experts alike in awe. Relevant emergency and humanitarian agencies have been overwhelmed due to limited logistical support to evacuate and relocate victims. So far, over 300,000 temporarily displaced people have been registered in 30 […]
