Climate change: FG commits N60bn to green projects in 2024

The federal government has committed N60 billion in the 2024 budget to execute projects aimed at cutting emissions to meet the Net Zero target by 2060.

The Minister of State for Environment, Dr Iziak Salako, said the funding would be realised from the third issuance of the Sovereign Green Bond.

He spoke on Wednesday in Abuja at the Inter-Ministerial Committee on Climate Change Meeting on the Green Bond Programme.

The minister recalled how in 2021, Nigeria pledged its commitment to a Net-Zero goal by 2060.

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This, he said, comes with a huge implication of the need for continuous and successful implementation of the Green Bond programme for the country’s green capital projects.

Salako said: “Following the successful issuances of N25.69bn in the maiden and second issuances, we have agreed to an incremental year-to-year issuance from 2024 to 2027 starting with a larger sized issuance of N60 billion in 2024 for the implementation of green projects that can contribute significantly to the country’s low emission target.”