News Desk Report
Abuja, Nigeria – Nigeria has taken a significant step towards addressing climate change with the launch of the Renewed Hope Climate Change Awareness Tour (REHCCAT) on March 3rd at the State House.
This nationwide initiative aims to translate climate ambition into action across all 36 states and 774 local government areas, bridging the operational gap between national policy and subnational implementation.
With Nigeria facing an annual $20 billion gap to meet its climate commitments, REHCCAT seeks to mobilize domestic and international capital, structure bankable project pipelines, activate carbon markets, and deploy blended finance mechanisms to unlock climate investment at scale.
The tour is a collaborative effort that brings together critical expertise from various stakeholders, including states, development partners, the private sector, and communities. According to Director-General Teni Majekodunmi, “Climate finance is not charity; it’s investment, industrial policy, and economic strategy.”
The initiative will work with states to identify bankable climate projects, strengthen carbon market readiness, build credible MRV systems, and connect investors with viable, high-integrity opportunities.
President Bola Ahmed Tinubu, who launched the initiative, emphasized the importance of collective action in addressing climate change. Minister Balarabe Abbas Lawal articulated the need for a whole-of-society approach, highlighting the role of development partners, state governments, and private-sector actors in domesticating climate action and strengthening national resilience.
As Nigeria embarks on this ambitious initiative, stakeholders are optimistic about the potential impact on the country’s climate resilience and sustainable development.
The success of REHCCAT could serve as a model for other countries facing similar climate challenges.
Source: www.climatewatchonline.com
