President Bola Tinubu has announced a groundbreaking initiative aimed at propelling Nigeria towards a sustainable and environmentally friendly future through the deployment of a fleet of 100 electric buses. This significant step was revealed during a high-level meeting with stakeholders and investors on the Nigeria Carbon Market and Electric Buses Rollout Programme, held on the sidelines of the COP28 climate summit in Dubai, United Arab Emirates.
President Tinubu outlined that the strategic initiative is geared towards substantially reducing Nigeria’s carbon footprint and modernizing the nation’s transportation systems. This initiative is part of a broader effort to position Nigeria and Africa at the forefront of green manufacturing and industrialization, with a particular focus on natural gas as a transitional fuel alongside other renewable energy sources.
To lead this transformative plan, the President appointed Mr. Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service (FIRS), and Mr. Dahiru Salisu, the Director-General of the National Council on Climate Change (NCCC), as co-chairs for the Nigeria Carbon Market Activation Plan.
President Tinubu stated, “This initiative stands as a testament to our dedication to environmental stewardship as clearly exemplified through our collaboration with the Africa Carbon Market Initiative.” He emphasized the importance of creating an investment-friendly environment and upholding standardized and sustainable industrial practices.
To drive the visionary plan, the President approved the establishment of an Inter-governmental Committee on Carbon Markets, chaired by the Executive Chairman of the FIRS and the Director-General of the NCCC. He assured prospective investors that this initiative is more than a pilot project; it is a concrete manifestation of Nigeria’s commitment to a carbon-neutral future.
In a call for global collaboration on climate-related challenges, President Tinubu urged global partners to join hands in accelerating collective efforts towards a net-zero future. He challenged other nations to emulate Nigeria’s strides in mapping out sustainable futures and emphasized Nigeria’s commitment to being an active participant in international efforts.
FIRS Chairman, Mr. Zacch Adedeji, praised President Tinubu’s visionary leadership as the driving force behind Nigeria’s commitment to harnessing its vast carbon potential. He pledged the Committee’s full commitment to implementing efficient policies and frameworks for sustainable carbon market growth.
Adedeji also highlighted Nigeria’s readiness to lead the global effort to combat climate change, describing the rollout of the initial phase of electric buses as a tangible symbol of Nigeria’s commitment to modernizing its transportation systems while reducing Africa’s carbon footprint. He affirmed that Nigeria is set to unveil a series of innovative, clean, and sustainable initiatives across various sectors to position the country as an attractive destination for global investments aligned with the commitment to a greener future.