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CTA promotes climate finance to support agriculture in Nigeria

A team of climate and agriculture specialists is converging on Abuja, Nigeria’s federal capital city, for two days from Monday, May 6, 2019 to validate a study report aimed at boosting climate change finance to sustain the nation’s agricultural sector.

Farming
While interests to finance mechanisms to help adapt has increased in recent years, the proportion of climate finance devoted to support the agricultural sector is however said to be limited compared to other sectors

Amid increasing climatic uncertainties faced by the agricultural sector, the proportion of financing to support it however appears limited, compared to other sectors.

The Technical Centre for Agricultural and Rural Cooperation (CTA), a joint institution of the EU and Africa, Caribbean and Pacific States (ACP) operating under the ACP-EU Cotonou Agreement initiated a project to identify opportunities to improve climate finance to support agriculture and smallholder farmers in ACP region. In this regard, CTA commissioned country case studies, of which Nigeria was selected.

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The case studies are to identify emerging opportunities from the Nationally Determined Contributions (NDCs) and other policies and frameworks that could support climatic actions and finance for agriculture.

Consequently, CTA staff and a national consultant produced the study report, titled; “Promoting Climate Finance to Support Agriculture through NDCs Processes in Nigeria.”

Besides to improve climate finance to support agriculture as well as climate smart agriculture practices in the country, the forum will also discuss and validate the findings of the study, and identify priority options and models to support co-investment from the private sector to boost CSA in particular and agriculture in general.

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Apart from identifying priority action points to support the promotion of climate finance for agriculture, participants will likewise discuss mechanisms to raise the profile of agriculture in the implementation of NDC and related climate frameworks in the country.   

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