Prime Minister of Papua New Guinea, James Marape, has confirmed he will not attend the upcoming United Nations Global Climate Summit (COP29) in Baku, Azerbaijan, citing the lack of global commitment to rainforest conservation as a primary reason.
Prime Minister of Papua New Guinea, James Marape
Prime Minister Marape announced that Minister for Environment, Conservation, and Climate Change, Simo Kilepa, will represent Papua New Guinea at COP29 with a streamlined delegation. The team’s primary focus will be to advocate for PNG’s bid to host the Green Climate Fund Board meeting next year, showcasing the nation’s commitment to climate leadership and green financing initiatives.
Prime Minister Marape expressed concern over the failure of high-emission nations to implement key aspects of the Paris Agreement, particularly Article 5 and Article 6, which focus on conserving greenhouse gas sinks and reservoirs, including forests, and creating a framework for international cooperation on carbon markets.
The Prime Minister emphasised that, despite commitments, large industrialised countries with significant carbon footprints have not fully upheld these obligations, both at government and industrial levels.
“Papua New Guinea is a major rainforest nation, and we are making our stance clear by protesting against these nations who do not prioritise rainforest conservation,” Prime Minister Marape stated.
“The conversation on climate change is incomplete without genuine action on preserving the world’s rainforests, which serve as vital carbon sinks and replenish our atmosphere through oxygen production and carbon removal.”
He further noted that COP summits have frequently overlooked the critical role of rainforests in climate change mitigation. Rainforests, such as those in Papua New Guinea, are home to diverse ecosystems and act as powerful carbon sinks, absorbing vast amounts of CO₂ and producing oxygen. Recent studies indicate that tropical rainforests, if adequately protected, could sequester up to 30% of global carbon emissions, highlighting the need for immediate action.
Prime Minister Marape called on high-emission nations to move beyond “meaningless talkfests” and take concrete steps to support rainforest conservation. “We need real sponsors of rainforest conservation, not just rhetoric,” he stated. “The world must take rainforest conservation seriously as a cornerstone of climate action.”
PNG’s decision to protest by not attending COP29 signals its commitment to prioritising impactful climate strategies and holding global stakeholders accountable. Prime Minister Marape expressed hope that COP30, set to take place in Brazil – a fellow rainforest-rich nation – will prioritise rainforest conservation and reforestation.
“We look forward to COP30 in Brazil, where we hope rainforest nations will have a stronger voice,” Prime Minister Marape concluded. “Papua New Guinea has sent our apologies to the COP29 organisers and reiterates our call for more meaningful action in support of global rainforest preservation.”
When it comes to the climate crisis, the global oil and gas industry is part of the solution, not the problem.
Panelists at the OPEC Roundtable at the Africa Energy Week in Cape Town, South Africa
This was emphasised by the Organisation of the Petroleum Exporting Countries (OPEC) roundtable at the African Energy Week: Invest in African Energies 2024 conference in Cape Town, South Africa.
Participants emphasised that, through investments in carbon capture and storage, oil and gas operators can take the lead in reducing global greenhouse gas emissions.
With energy demand projected to increase 24% between now and 2050, the roundtable underscored that prioritising investments in low-carbon technology should be top of the agenda in climate discussions. Effectively, the industry can take a leading role in reducing global greenhouse emissions through investments in carbon capture and storage technology. Collaboration with organisations such as OPEC can accelerate the dual goals of meeting rising demand, while lowering global emissions.
“Our position is that climate negotiations have to take into account the principle of common differentiated responsibilities and respective capabilities. The Paris Agreement (on climate change) is about reducing emissions, not about choosing a source of fuel above another. It is not about leaving fossil fuels in the ground. Oil and gas are not the culprit but part of the solution,” said Haitham Al Ghais, Secretary General of OPEC.
Increasing crude production remains top of the agenda for many African countries. With over 600 million people living without access to electricity and 900 million without access to clean cooking solutions, the development of crude oil reserves stands to meet rising energy demand while driving economic growth.
Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil) of Nigeria, posits that the development of oil and gas can serve as a catalyst for the renewable energy industry.
“For countries in Africa, we cannot be told that we should remain in energy poverty, with the low industrialisation that we have. In order to develop solar, wind and green hydrogen, you need financing. Those energy sources currently have limited investment. Our own ambitions are to see how we can raise the funding required for the energy mix, using fossil fuels,” he said.
Marcel Abeke, Minister of Petroleum of Gabon and President of OPEC, reiterated these remarks, stating: “We should have a unified voice to fight against energy poverty. We have the majority of our population without access to energy, so we need to keep investing in the development of our energies, industries and countries.”
Gabon aims to increase crude output to 500,000 barrels per day (BPD) in the medium- to long-term and is promoting investment in natural gas exploration. The country is committed to leveraging its oil and gas industry to drive economic growth.
“We are inviting investors to come and explore so that we can progressively increase our production. There is not only oil, but there are important gas reserves which have been discovered in Gabon. We are open and would like to invest in this sector so that we can drive growth through the development of this sector,” he added.
The scene of the crime, variously referred to as the Ogunpa Forest Reserve, the Ogunpa Dam Forest Reserve and the Forest Reserve surrounding Agodi Gardens in Ibadan, is located on the steep slopes of Premier Hotel Hill and the valley surrounding it, as far as Ajibade Street off the main Oyo Road, and Dejo Oyelese Street in Old Bodija.
Aerial view of Ogunpa Forest Reserve after encounter with chainsaws and bulldozers
The valley, which is a major flood plain for the notorious Ogunpa River, extends as far as Secretariat Road, and is bordered by the gentle rise towards the Oyo State Fire Brigade Department and the Oyo State Government Secretariat on the same side as Agodi Gardens, and the University College Hospital opposite.
The Ogunpa River, with its source in Ashi village in Ibadan, and infamously known for its extremely destructive, high-velocity flash floods during torrential rainfall, meanders through the valley, flanked by its flood fringe which extends into Agodi Gardens, on its journey past Dejo Oyelese and Francis Okediji streets and beyond, and empties into the Agodi Lake.
A second smaller river, the Onireke, passes under the Secretariat Road in front of the entrance to the OYS Fire Brigade Department and flows within Agodi Gardens parallel to Secretariat Road until it too empties into the Agodi Lake.
This waterway which is also supplied by pure filtrated water from the underlying bedrock is better known to us environmentalists as the Dandaru Tributary.
Several years ago, when it was noticed that the Ogunpa River had a nasty habit of flowing over the lower stretches of the road that climbs up to Premier Hill, each time it rained, a miniature dam was constructed across the river, close to the junction of the Secretariat and Premier Hill roads. Thus, creating the Agodi Lake.
A deep trench was dug and lined with high concrete walls, which passed in front of the Cultural Centre at the bottom of Premier/Mokola Hill and under the road connecting Mokola to UCH.
Through this trench, the Ogunpa River flows downstream through a vast swathe of Ibadan, before it empties into the Ona River on the left-hand side of the Lagos-Ibadan Expressway, about a 10-minute drive away from Toll Gate, Ibadan.
It is important to keep the proximity of the confluence of the Ogunpa and Ona rivers to Ibadan City in mind, because during the 1980 flood disaster, the turbulent Ogunpa River rushed headlong into the Ona River, causing the two rivers to overflow their banks as they passed through Ibadan.
However, the deep concrete walled trench beginning at the overflow point of the Agodi Lake, followed the Ogunpa River only so far, and the rest of the river’s winding journey had ample scope for flooding it’s banks, as it squeezed between poorly planned open markets and slum neighbourhoods, which have no provision for waste disposal, apart from large scale dumping of refuse into the Ogunpa River as it flowed past.
So, from time to time, during the rainy seasons, the Ogunpa River hemmed in by badly planned neighbourhoods built too close to the river, completely devoid of any flood protecting vegetation, and barely able to breathe through the weight of the refuse in it, would do what any self-respecting river would do under the circumstances.
It would burst its banks, roaring through the City of Ibadan at tremendous speed, and destroy everything in its path.
After a few of these devastating seasonal episodes, the World Bank funded Channelisation Project was drawn up and implemented.
So far, even during heavy downpours, these deep, considerably widened, concrete-lined channels have been able to keep the roaring, turbulent Ogunpa River in check, as it rushes through the city of Ibadan.
However, in the last few weeks, during the first rainy season since the murder of the Ogunpa Forest Reserve, the narrative seems to be changing.
Environmentalists and urban planners alike are starting to get apprehensive over the increase in the number of flooding events in Ibadan, in which two people have died and two are still missing.
And although these seem to have mostly affected the neighborhoods along various tributaries of the Ona River, which has also been extensively widened and channelised, we are keeping in mind the close relationship between the two rivers, and their combined effort in the 1980 flood disaster.
Whatever disturbs the aggressive Ogunpa River will certainly have an impact on the Ona River.
To me it is quite significant that despite the extensive channelisation of both rivers, sections of which were being built with great haste all through the day and night to have them completed in time before the rains started, the volume of water in each river is higher than one would expect.
The concrete-banked channels are considerably wider than the original rivers. The quantity of refuse being dumped in them this year is roughly the same as last year.
We haven’t experienced any heavy, sustained rainfall this year, that has lasted more than, say, five hours. The ONLY variable that has changed is the important flood buffer for the Ogunpa River: the forest protecting the watershed within the Ogunpa Forest Reserve surrounding Agodi Gardens no longer exists.
Now that you have a broader picture of the beginning and the ending of the Ogunpa River, what it does in-between, and how it usually behaves when it is choked and over-full, let us see in Parts 2 and 3 of this story, how the Ogunpa River could react to one of the most monstrous environmental crimes in the City of Ibadan.
First, let me quickly point out that when the Ogunpa River Channelisation Project was first initiated, I doubt that anyone could have foreseen that just a few years down the road, a major watershed for the Ogunpa River would be destroyed and plans made to sand-fill and build on its immense flood plain.
Since this unprecedented and catastrophic event was not considered by the architects of the Ogunpa Channelisation programme, one can only hope that what they have put in place can stand up to the altered behavior of the Ogunpa River, now bereft of both functioning watershed and floodplain.
Especially at a time when global warming and the ensuing climate change is causing unpredictable weather patterns all over the globe.
If unprecedented weather patterns can cause the Sahara Desert to flood, as dry and as hot as it is, what will happen to those of us in the city of Ibadan with its normally high rainfall, now that our flood buffers have been deliberately removed and our landscapes desertified?
By Rosalie Ann Modder-Oyefeso, on behalf of The Save Our Green Spaces Group and The Ogunpa Forest Reserve Team
Indigenous oil and gas producer, Millennium Oil and Gas Company Limited (MOGCL), has entered a collaborative arrangement with American energy solutions provider, Saltspring Energy LLC, to decarbonise operations at the Oza oilfield.
Executive Chairman of Millennium Oil and Gas Company Limited (MOGCL), Mrs. Cecelia Umoren
The agreement seeks to harness flared gas at the Oza marginal field in Abia State for production of electricity.
Millennium Oil is a Nigerian-based exploration and production company which operates the Oza marginal oilfield hosted in the Oil Mining Lease OML 11.
Saltspring Energy LLC, based in Houston, Texas, United States, is a global energy solutions provider specialising in carbon management.
In a statement jointly issued in Lagos and Houston, the companies declared that they have reached a Memorandum of Understanding (MoU) to collaborate on a groundbreaking initiative to cut carbon emissions by converting flared gas to power production.
Executive Chairman of MOGCL, Mrs. Cecelia Umoren, declares: “This partnership represents a significant step forward in addressing one of the major environmental challenges in the oil and gas sector – gas flaring.”
“By collaborating with SaltSpring, we are not only reducing emissions but also creating new revenue opportunities and positioning ourselves at the forefront of the energy transition,” she explained.
Under this partnership, the two companies will develop and implement a carbon credit mechanism based on the existing Gas Sale and Purchase Agreement (GSPA) for the Oza Field, curb gas flaring and associated environmental challenges, and generate carbon credits under established global standards.
The earned carbon credits could now be sold on global platforms like Verra, Gold Standard, and the European Union Emissions Trading System (EU ETS).
In delivering on the objectives of the partnership, SaltSpring commits to assist MOGCL in creating a verified carbon credit mechanism that aligns with global sustainability goals and carbon-neutral certification standards.
The American company will also deploy it’s expertise in assisting MOGCL trade the generated carbon credits and open new revenue streams while strengthening its sustainability profile.
SaltSpring is to also guide MOGCL through the certification process, ensuring that all carbon credits adhere to the standards set by recognised certifying bodies such as Verra and Gold Standard.
The MoU holds that the profits from the sale of carbon credits will be shared equally between MOGCL and SaltSpring Energy, creating a long-term partnership that benefits both parties while contributing to global emission reduction efforts.
The Housing Development Advocacy Network (HDAN) has voiced serious concerns over the recent allocation of over 200 acres of land in Abuja’s Phase 5 area for mass housing. The allocation, reportedly granted to an organisation, has sparked debates on the current state of housing policy, land use, and urban planning within the Federal Capital Territory (FCT).
Nyesom Wike, Minister of the Federal Capital Territory of Nigeria
In a briefing to journalists, HDAN Executive Director, Festus Adebayo, urged the Minister of the FCT, Nyesom Wike, to adopt a more inclusive, balanced approach that prioritises sustainable housing development, economic growth, and job creation over immediate revenue generation.
Adebayo highlighted ongoing demolitions in Phase 5, where over 100 housing units have already been torn down on the minister’s orders. According to him, these demolitions stem from the fact that this area has yet to be officially designated as a development zone and remains ungazetted. Adebayo cautioned that the hurried allocation and clearing of land in such an unplanned area sets a concerning precedent, with negative implications for property owners, developers, and the economy of the FCT.
He emphasised the need for comprehensive planning before large-scale housing developments are sanctioned, citing that Phase 5’s lack of formal planning has led to unnecessary property destruction and financial loss.
HDAN’s investigation also revealed that many of the land recipients in the Phase 5 allocation intend to sell their parcels rather than develop them.
“Why allocate land to individuals or entities that may lack the resources or intention to build?” Adebayo questioned, arguing that allocating large portions of land to those who prioritise profit over development undermines the larger goals of housing policy and urban growth.
He also highlighted a policy inconsistency, stating that the FCT’s Mass Housing Policy generally restricts allocations to a maximum of 10 hectares in urban areas and 20 hectares in rural areas. The recent over 200-acre allocation clearly deviates from this policy, raising questions about its legality and oversight.
Adebayo also voiced concerns over organisations that are in partnership with AMAC, and some of these organisations’ land have been taken over in the course of the recent allocations.
“From the records made available to HDAN, we have found out that some of those allocations have been made some years ago where the concerned developers have also paid compensation and even received invoice for payments from the development control.
“There will be need for FCDA to look into the loss of these investors, who have already paid compensation to the settlers of this land. We need clarification on whether AMAC and FCDA will address these losses faced by those partners in housing developments,” he noted.
HDAN urged Minister Wike to use land resources to address the housing shortage, foster job creation, and strengthen the FCT’s economy.
Adebayo appealed to the FCT Minister to consider land use as a tool for public good, advocating for projects that could generate employment, increase housing access, and drive overall economic development.
“This is a unique opportunity for the Minister to reposition the Urban and Regional Planning Department within the FCT,” Adebayo said, emphasising that past failures to effectively manage planning have contributed to today’s housing crises.
HDAN further suggested that any future mass housing allocation should be preceded by consultations with stakeholders and professional bodies to align on urban planning goals and ensure accountability.
Calling for a shift in focus, Adebayo encouraged Minister Wike to view land management not just as a source of revenue but as a means to drive sustainable development within the FCT.
HDAN is a research, non-profit, volunteer and non-governmental organisation that is promoting affordable housing in Africa, with over 5,000 members drawn from all professions in the housing and construction industry.
The World Health Organisation (WHO) unveiled Nigeria’s first-ever Climate Health Vulnerability and Adaptation Assessment Report (VA) during the Health Sector-Wide Joint Annual Review (JAR 2024) on Friday, November 8, 2024, in Abuja.
WHO Country Representative in Nigeria, Dr Walter Mulombo
The report underscores the urgent need for resilient health systems in the face of mounting climate risks.
The JAR serves as a vital platform for driving the Sector Wide Approach (SWAp) in Nigeria.
Delivering a goodwill message, Dr Walter Mulombo, WHO’s Head of Mission and Country Representative for Nigeria, said that climate change was the 21st century’s greatest health threat.
Mulombo expressed WHO’s continued dedication to Nigeria’s journey towards a climate-resilient health future.
“Rising temperatures, extreme weather events, and shifting disease patterns are already straining health systems, livelihoods, and well-being, especially among vulnerable populations.
“Together, we can protect Nigerians from the risks of a changing climate by building a health system that prioritises resilience,” he said.
The report projects that climate factors could soon account for up to 21 per cent of Nigeria’s disease burden, underscoring the urgency of transformative action.
It serves as a foundational step for developing Nigeria’s Health National Adaptation Plan (HNAP), a strategic framework to guide national policies in mitigating climate-related health risks.
The WHO collaborated with the Nigerian government, FCDO, World Bank, and UNICEF to produce the report, which aligns with the Paris Agreement and COP26 Health Programme.
Since 2021, WHO has supported Nigeria’s commitment to a sustainable and climate-resilient health system, reinforcing initiatives like the training of over 382 health workers across all states on climate-health impacts.
This effort aims to build a strong health infrastructure capable of withstanding climate shocks, benefiting all Nigerians.
Several local and international stakeholders, including donors and civil society organisations, were present at the launch event.
Several stakeholders applauded the new approach, with some stressing the importance of community engagement in the implementation of the reforms.
UNICEF says the Kano State Climate Change Policy Document will reduce emissions, enhance climate resilience and tackle impact of climate change.
Governor Abba Kabir Yusuf of Kano State
UNICEF’s Kano Field Office WASH Programme Officer, Mrs. Stella Terver, said this at the validation of the policy on Friday, November 8, 2024, in Kano.
According to her, the policy goal is to promote low carbon, climate resilient, gender responsive and sustainable socio-economic development in the state.
Terver said the policy would also guide the government’s decisions on sustainable development initiatives as well as prepare the state for future climate challenges.
The WASH officer added that the policy was developed with support from UNICEF, Partnership for Agile Governance and Climate Engagement (PACE) and inputs from various stakeholders.
“The climate change policy document, when approved by the governor, will help the state in sourcing funds from international organisations to combat climate change and also help in climate mitigation and adaptation,” she said.
She emphasised the organisation’s mission to ensure children’s survival, growth, and realisation of their rights.
Terver called on all the citizens to support the policy for its effective implementation for a climate resilient state.
Also speaking, the Executive Secretary, Kano Watershed, Erosion and Climate Change Management Agency (KN-WECCMA), Dr Muhammad Khalil, restated commitment to building a climate-resilient Kano, ensuring sustainable development and promoting the well-being of the citizens.
He said that the process adopted in developing policy involved close engagements with the various stakeholders from MDAs with support from UNICEF and PACE.
Khalil commended the efforts of the duo and other stakeholders in tackling the impact of climate change.
Stakeholders in Oyo State under the aegis of “African Climate Caravan” are demanding for grants instead of loans to mitigate the effects of climate change in Africa.
Climate change justice campaign rally
The demand was made on Saturday, November 9, 2024, during the Ibadan Climate Caravan Walk, organised by Oxfam Nigeria in partnership with Climate Justice Youth Ambassador.
The Convener of the Walk, Mr Oluwatobiloba Ojuoluwa, said the African continent had suffered enough from the effects of climate change of which it contributed minimally.
Ojuoluwa, a representative of Oxfam, said it was high time wealthy countries, according to COP27, made all of their promises come through.
“We can’t be servicing what we don’t owe. We demand for climate justice because we can’t keep serving loans for what they have caused.
“Local people and vulnerable groups must access grants and finance to mitigate flooding and other disasters due to the effects of climate change,” he said.
Ojuoluwa lamented the recent flooding incidents in Adamawa and Borno states which had caused victims to lose their hard-earned property.
Also speaking, the Executive Director of Eco Science Generation Initiative, Ms Jumoke Omodeni, said the call was for climate financing to finance adaptation initiatives and strengthen climate resilience for vulnerable communities in Africa.
She underscored the need to combat drought, flooding, desertification and other impacts of climate change.
The Founder, EcoSmart Club, Ms Hannah Omokhaye, called for the implementation of an energy transition initiative aimed to stop the use of fossil fuels and promote the uptake of renewable energy.
She noted that African countries like Nigeria lacked the capacity and infrastructure to take up renewable energy initiatives hence financing would be needed to support developing countries.
Other climate change enthusiasts, Wale Alabi, Olayomade Adeyemo of Nigerian Conservation Foundation, and Adeyemi Adebisi, Founder of Climate Solutions Limited, all called for immediate climate actions.
They also called for actions instead of advocacy without commensurate activities, to enhance climate adaptation for developing countries.
Gov. Babajide Sanwo-Olu of Lagos State has called on residents of Banana Island to continue obeying the building and environmental laws of the state, in order to mitigate the effects of flooding in the area.
Gov. Babajide Sanwo-Olu, Mrs. Daisy Danjuma and Mr. Frank Aigbogun at the inauguration of some social facilities at Banana Island
Sanwo-Olu made the call on Saturday, November 9, 2024, at the inauguration of some projects undertaken by Banana Island Property Owners and Residents Association, Lagos (BIPORAL).
The projects inaugurated include the Banana Island Administrative Office, a recreational park, Banana Island Club House, a fire fighting truck, a tennis court and an astroturf five-a-side football pitch.
Sanwo-Olu decried the lack of maintenance culture, tasking the residents to maintain the facilities for the benefit of the public and future generations.
He, however, commended them for compliance with the state environmental and building laws, urging continuity.
The governor also lauded the efforts of the outgoing executives of the association, led by Mr Frank Aigbogun, and the new executive of Mr Abidemi Sonoiki for a good working relationship with government officials.
“Lagos State officials enjoy good working relationships with current executives to ensure necessary fees are paid to the government and residents keep within the rules of engagement in the estate.
“As a government, what we can do is to continue to support you, while you also complement the government’s effort in infrastructural development,” Sanwo-Olu stated.
Earlier, the residents appealed to the governor for immediate intervention over persistent flooding of the area, particularly whenever it rains, apparently due to drainage challenges, especially on the road leading to the estate.
Sanwo-Olu pledged that the Ministry of Environment would inspect the road to find lasting solutions.
He noted that the flood is caused by houses built on the water channel around the area, adding that the government would not hesitate to demolish such houses after inspecting the area.
“Somebody has built a house on a channel of water that is supposed to be flowing to the sea.
“I plead with you to work with us. I don’t have an interest in demolishing people’s houses or making life uncomfortable for them, but we have to do what we have to do.
“Meanwhile, I will direct the Commissioner, Ministry of the Environment, and Office of Drainage, as well as Waterfront Infrastructure to look at what the issues are and come up with possible and permanent solutions to the problem.
“I know that the challenge on that road is a major outfall. It needs to be able to discharge that water, right, onto the canal out on the right and see how we can also navigate some canal and get it on the left,” he said.
The governor advised the new executive members to apply wisdom and draw from the experience of their predecessors.
Similarly, Aigbogun urged the incoming executives to build on the success of his team.
The outgoing chairman, however, noted that residents in Banana Island did not build on drains.
“Most of the houses built on drains are outside Banana Island and not inside.
“We work hand in hand with the Lagos State Government and I urge the incoming executives to do the same,” he said.
On his part, Sonoiki said that being a member of the outgoing executive had prepared him for the task ahead.
“I served as the public relations officer in the outgoing executive, so I understand what needs to be done to ensure that residents have a peaceful and enjoyable home to come to.
“Also, my focus is to ensure that we have a first aid service here so that in cases of emergency we can be well equipped,” the new chairman said.
In a related development, Governor Sanwo-Olu, has restated his administration’s determination to transforming the state into a smart city, where technology and sustainable urban planning converge.
The governor gave the assurance at a Global Property Conference held on Saturday in Lagos.
The conference was organised by Gtext Holdings, a conglomerate that covers real estate and other businesses.
The governor, at different forums, stated that by 2030 the smart city ambition of the state would have been fully realised.
Sanwo-Olu, represented by Mrs Temitope Akinbola, the Director, Lagos State Real Estate Regulatory Authority, said the state government had initiated projects to improve housing affordability and infrastructure.
“Also, partnering with private investors to develop housing projects, meeting diverse income levels.
“This is all part of our larger vision to ensure that every Lagos resident has access to safe, secure, and affordable housing,” the governor said.
Also speaking, a legal practitioner, Mr Femi Falana, urged parties seeking to succeed in the real estate sector to seek professional advice and make integrity their watchword.
“You need to study the environment; partner with those already in the business; and learn the act of succeeding in the business.
“Once you can do that, you must ensure that you are not too much in a hurry to make money to the extent that you sacrifice integrity,” he said.
He also urged young professionals to seek financial, and legal advice, and to know the rudiments of the business in order to succeed.
According to him, this entails familiarising themselves with laws governing real estate in the country, the Land Use Act, and other relevant laws.
“So, you must also join the movement to get the government to contribute more in terms of prices of building materials.
“Also, in terms of registration of title documents, and reducing the cost of registering and processing documentation,” Falana said.
Founder, Gtext Holdings, Dr Stephen Akintayo, said that the conference was apt as the real estate sector was going through a tough season – from legal to police issues to government policies.
“I believe that if we want to get the Nigerian economy back on track, create jobs, boost the economy, we can turn Nigerian economy around just with the real estate sector.
“However, the bottlenecks have to be removed.
“First of all, the Land Use Act is not working the way it should work.
“The Land Use Act intends to provide affordable housing,” he said.
The 29th Session of the Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change (UNFCCC) commences on Monday, November 11, 2024, in Baku, Azerbaijan, and Evans Njewa, Chair of the Least Developed Countries (LDC) Climate Group, representing 45 countries and 1.1 billion people, has been commenting ahead of the international summit.
Chair of the Least Developed Countries, Evans Njewa
Njewa said: “The LDC Group urgently demands scaled up, new, additional, and easily accessible climate finance. Finance that meets the unique needs of our vulnerable communities, and is delivered as grants, not loans. For too long, debt burdens have crippled our economies and deepened our vulnerabilities.
“Through partially costed estimates, the LDCs alone are in need of at least $1 trillion by 2030 to implement our Nationally Determined Contributions (NDCs). A failure to conclude COP29 without a bold new finance goal would be a tragic disservice to both the planet and vulnerable populations.
“This year alone, severe flooding and landslides devastated lives and property across Nepal, Chad, Ethiopia, Bangladesh and more. The world must step up with a game-changing climate finance goal that matches the true scale of our needs. Not billions, but trillions.
“It’s more important than ever that countries remain committed to continuing to work together to address this global crisis and collectively step up efforts.
“COP29 must be clear on this, encouraging countries to submit strong new climate action plans – Nationally Determined Contributions (NDCs) – early next year that are aligned with the 1.5°C goal. Additionally, our countries must be provided with adequate support to implement these plans.
“COP29 must also finalise the remaining rules on carbon markets, ensuring the market mechanisms support emissions reductions and don’t compromise environmental integrity.”
COP29 is expected to come to a close on Friday, November 22.
Vulnerable to environmental and economic shocks, and disproportionately affected by the climate crisis, LDC countries negotiate together as a bloc at UN climate talks to advance their shared interests in a fair and ambitious global response to climate change.
