Former National Assembly member in Nigeria, Rt. Hon. Sam Onuigbo, has praised President Bola Ahmed Tinubu for approving the adoption of a National Carbon Market Framework, the operationalization of the Climate Change Fund, and the restoration of the National Council on Climate Change (NCCC) in the budget.
The Climate Change Act of 2021, specifically Section 5(1), outlines the membership of the National Council on Climate Change. The Council is chaired by the President of Nigeria, with the Vice President serving as the Vice Chairman.
Furthermore, Section 15(1) of the Climate Change Act establishes the Climate Change Fund, which will be maintained by the Council and funded by appropriations from the National Assembly for its operations.
Part 5 of the Act addresses Carbon Budgets and the National Climate Change Action Plan, and Section 19 discusses the carbon budget to be set for Nigeria.
In response to these developments, Rt. Hon. Sam Onuigbo remarked that while the late President Muhammadu Buhari signed the Climate Change Act in 2021, President Tinubu has now firmly endorsed it.
Onuigbo, who is currently a member of the Governing Board of the North East Development Commission (NEDC), expressed that this advancement should bring joy to all Nigerians, especially with the 30th session of the United Nations Climate Change Conference (COP 30) in Brazil approaching.
As a proponent of local government autonomy in Nigeria, Onuigbo stated that the President’s actions will facilitate Nigeria’s participation in carbon markets, potentially unlocking between $2.5 billion and $3 billion annually in carbon finance over the next decade to help achieve climate goals.
The All Progressives Congress (APC) chieftain noted that President Tinubu’s decision positions Nigeria to seize opportunities in the global carbon market and to be more active in the climate change ecosystem, which he has been advocating for years.
He encouraged Nigerians to be excited, stating, “They can now look forward to new investments, jobs, and innovations across the nation’s energy, agriculture, and industrial sectors.”
It is worth recalling that Onuigbo was inducted into the inaugural National Assembly Most Valuable Parliamentarian Hall of Fame in May 2023. He was one of only five members out of the 469 in the 9th National Assembly to receive this recognition and the only member from the southern part of Nigeria.
He was chosen for this honor based on his qualitative impact in the 9th National Assembly, particularly for sponsoring the Climate Change Act 2021, which is inter-generational, globally impactful, and capable of laying the foundation for a sustainably developed Nigeria.
Onuigbo was acknowledged as one of the Top 30 Global Leaders on Climate Action by Business Insider in New York on November 27, 2023. Additionally, he was recognized by the 10th House of Representatives as a Worthy Ambassador of the House on November 28, 2023. He also received Leadership Awards on Climate Change from both the University of Nigeria, Nsukka, and Nnamdi Azikiwe University, Awka.
Source: www.climatewatchonline.com
