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COP16: Crisis facing nature takes centre stage at UN summit

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A major United Nations conference on biological diversity opened on Monday, October 21, 2024, in Cali, Colombia, where 196 nations will discuss how to halt and reverse the decline of the natural world. The meeting will continue till Friday, November 1.

COP16
Participants at the UN Biodiversity Conference (COP16) in Cali, Columbia

The 16th meeting of the Conference of the Parties (COP16) to the Convention on Biological Diversity (CBD) (or UN Biodiversity Conference) features a packed 12-day agenda designed to help humanity make “peace with nature”, in the words of host country Colombia. That process is crucial for fostering peace and supporting sustainable development, leaders are expected to argue. The gathering comes amid a precipitous decline in ecosystems around the world which is creating a “dangerous and uncertain tomorrow,” warns UN Secretary-General António Guterres.

In Cali, country representatives are discussing the implementation of the Kunming-Montreal Global Biodiversity Framework, a landmark 2022 agreement to halt and reverse nature loss. They will also explore how to channel billions of dollars to developing countries to preserve and sustainably manage biodiversity. And they will debate ground-breaking rules that could require private companies to compensate nations for advances based on genetic sequencing.

“In many ways, this is a make-or-break moment for nature and by extension many communities around the world,” says Susan Gardner, director of the Ecosystems Division at the United Nations Environment Programme (UNEP). “Environmental degradation is fueling poverty, driving displacement and sparking conflict.  Over the last several years, we’ve seen countries make bold commitments to address the nature crisis. During the next two weeks, we need to see those promises turned into action.”

In 1992, 150 nations signed the Convention on Biological Diversity, a global agreement to support sustainable development by protecting the web of life on Earth. This marks the 16th Conference of the Parties (COP) to that agreement, which has since come to include 196 nations.

What will be the underlying theme of COP16? 

World leaders, scientists, youth groups, finance professionals and others will be attending what has been called the “COP of the people.” They are expected to focus on the message that humanity is running out of time to save the natural world – and by extension, itself. Natural resources and the services that nature provides underpin human civilisation. But ecosystems around the world are being degraded and 1 million species are threatened with extinction.

That crisis is entrenching poverty, jeopardizing economies and undermining any chance of achieving the Sustainable Development Goals. Despite that, there is a sense of optimism heading into COP16, with environmental advocates hopeful that the international community is ready to ramp up efforts to address this nature crisis.

“For too long, humanity has viewed itself as separate from nature,” says Gardner. “That perspective is starting to shift and COP16 will be an important opportunity to re-enforce the message that humanity and nature are intrinsically linked.”

Why is COP16 important?

It will be the first time countries have gathered since adopting the Kunming-Montreal Global Biodiversity Framework in 2022. The framework contains 23 groundbreaking targets that are designed to safeguard the natural world and that come due in 2030. Countries agreed to update their national plans for delivering on those targets by the time they arrive at COP16, which will feature a status check on how nations are faring.

“For this conference to be a success, we need to see evidence that countries are stepping up and translating the ambitions of the Global Biodiversity Framework into action at the national level,” said Gardner.

What role will genetics play at COP16?

A potentially huge one. Countries have vowed to share more broadly the profits that come from advances based on the genetic information of plants, animals and other living things. This information – which includes DNA – is stored digitally and is used by companies to develop everything from beauty products to blockbuster medicines to high-yield crops.

Governments have agreed to create a funding mechanism that would channel some of the profits from the use of this so-called digital sequencing information back into biodiversity conservation and the communities that protect nature. But it is not yet specified which businesses would pay into the fund, how much they should contribute, or how money would be distributed. Negotiators will try to answer those thorny questions at COP16.

Observers say these talks will be closely watched by players in the cosmetic, pharmaceutical and agriculture sectors. One idea under discussion has suggested companies contribute 1 per cent of their profits to the funding mechanism, a number that could stretch into the tens of billions of dollars.

Will financing feature prominently in discussions?

Yes. Talks will focus on how to scale up the amount of money dedicated to nature. The Kunming-Montreal Global Biodiversity Framework calls for countries to slash environmentally harmful subsidies by US$500 billion per year, and to spend US$200 billion annually on implementing their national biodiversity plans.

As part of this agreement, developed nations have committed to provide developing nations with US$20 billion annually to support biodiversity-related work, by 2025. At COP16, discussions will take place on the institutional arrangements for biodiversity finance and countries are expected to adopt an updated approach to mobilizing financial resources. Progress on those points would be an “important early signal” that developed countries are committed to delivering on the ambitions of the Global Biodiversity Framework, said Gardner.

“Funding is crucial to the success of the Global Biodiversity Framework,” she added. “Without it, we’ll be stuck in neutral whilst trying to move uphill.”

The agenda for COP16 focuses heavily on Indigenous Peoples. Why is that?

In many ways, they hold the key to a healthy natural world. Indigenous Peoples manage or have tenure rights over more than one-quarter of the world’s land area, including many of its most ecologically intact landscapes. But Indigenous Peoples, along with people of African descent and local communities, are often not at the table when it comes to making decisions about the natural world.

At COP16, negotiators will discuss a programme of work on traditional knowledge and practices, and the creation of a subsidiary body that would strengthen participation of Indigenous Peoples in the Convention on Biological Diversity. “Indigenous Peoples have been a foundation for conservation and have significant knowledge to share with the wider world,” says Gardner.

Foundation urges community engagement in energy transition plan

A civil society organisation, Shehu Musa Yar’Adua Foundation, has urged the Federal Government to ensure adequate community engagement in the nation’s energy transition plan.

Adebayo Adelabu
Minister of Power, Mr Adebayo Adelabu

Mr Amara Nwankpa, the Director, Partnership and Development, stated this at a one-day workshop on shaping an inclusive energy future in the Niger Delta on Sunday, October 20, 2024, in Uyo, Akwa Ibom State.

Nwankpa said that the foundation was worried that the energy transition plan failed to gather the concerns of impacted communities in Niger Delta.

He said that the current energy transition plan in the country lacked sufficient consultation with impacted communities.

The director urged the planners of the energy transition programme to engage the people of the Niger Delta for inputs.

“The Niger Delta region will be severely affected if their input is not considered. It is important to consider the region’s interest in the plan.

“Niger Delta is an impacted region in the energy transition, it is important to engage them and consider their needs and interests,” he said.

In his speech, Dr Nnimmo Bassey, the Executive Director, Health of Mother Earth Foundation, also expressed the need for community engagement in the energy transition plan.

Bassey said that Nigeria required stronger commitment towards meeting its energy challenges.

“There is need for community engagement and consultation to ensure a successful transition.

“The problem is not lack of energy resources, it is the production of enough energy to meet the citizens’ need,” he said.

He called for a decentralised energy system which would be managed and maintained by communities to meet their needs.

It will be recalled that Nigeria’s energy transition plan targets net-zero emissions by 2060, proposes gas commercialisation until 2030, and a gradual phase-out of fossil fuel.

By Isaiah Eka

Lagos partners British firm to advance plastic waste recycling

The Lagos State Government has signed a Letter of Intent (LoI) with a British company for advanced recycling of plastic waste.

Plastic recycling
Plastc waste recycling

The Commissioner for Environment and Water Resources, Mr Tokunbo Wahab, said this in a statement on Sunday, October 20, 2024, in Lagos.

Wahab said the initiative was part of efforts to reduce plastic waste in the state and facilitate its conversion.

According to the commissioner, the British Company is reputable for the conversion of plastic waste to energy.

Wahab said the LOI would grant access to the Abule Egba landfill for the collection of flexible plastic waste for advanced chemical recycling.

He said the project is a pilot one with GreenDeal Chemicals and Recycling and Greenback Recycling Technologies Ltd.

Wahab said the organisation, known for the transformation and management of chemicals and promotion of a circular and sustainable economy, would work at the decommissioned Abule Egba dumpsite in the state.

He said the project would focus on the collection of all flexible plastic waste arriving at the Abule Egba landfill site which would be recycled to generate energy.

He said the Lagos Waste Management Authority (LAWMA) would make available waste deliveries which would serve as feedstock for the four modules of chemical recycling units to be installed at the site for the duration of the concession.

Wahab said that the four modules would require 32 metric tonnes of flexible plastic waste per day as feed stock for chemical recycling from selected and sorted plastic waste.

He added that the initial four modules installed would process 11,680MT of plastic waste per annum.

The commissioner said following the success of the pilot project, additional modules would be deployed and installed in order to scale-up the volume of processed plastic waste.

The statement quoted the Chief Executive Officer, GreenDeal Chemicals and Recycling, Dr Akintayo Adisa, as saying that GreenDeal is an initiative that sets out to reduce waste, increase recycling, and promote sustainable practices.

Adisa expressed the willingness of his company to work with the Lagos State Government to actualise the circular economy plan of the state.

The statement said that the LOI signing was witnessed by the Permanent Secretary, Office of Environmental Services, Dr Omobolaji Gaji, and the Permanent Secretary, Office of Drainage Services, Mr Mahamood Adegbite.

Others at the event included the Managing Director of LAWMA, Dr Muyiwa Gbadegesin; the General Manager Lagos Waste Water Management Office, Adefemi Afolabi; as well as directors in the Ministry.

By Fabian Ekeruche

100-year effort sees Egypt certified malaria-free by WHO

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The World Health Organisation (WHO) has certified Egypt as malaria-free, marking a significant public health milestone for a country with more than 100 million inhabitants. The achievement follows a nearly 100-year effort by the Egyptian government and people to end a disease that has been present in the country since ancient times.

Dr Khaled Abdel Ghaffar
Dr Khaled Abdel Ghaffar, Deputy Prime Minister of Egypt

“Malaria is as old as Egyptian civilization itself, but the disease that plagued pharaohs now belongs to its history and not its future,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General.

“This certification of Egypt as malaria-free is truly historic, and a testament to the commitment of the people and government of Egypt to rid themselves of this ancient scourge. I congratulate Egypt on this achievement, which is an inspiration to other countries in the region and shows what’s possible with the right resources and the right tools,” added Ghebreyesus.

Egypt is the third country to be awarded a malaria-free certification in the WHO Eastern Mediterranean Region following the United Arab Emirates and Morocco, and the first since 2010. Globally, a total of 44 countries and one territory have reached this milestone.

“Receiving the malaria elimination certificate today is not the end of the journey but the beginning of a new phase. We must now work tirelessly and vigilantly to sustain our achievement through maintaining the highest standards for surveillance, diagnosis and treatment, integrated vector management and sustaining our effective and rapid response to imported cases. Our continued multisectoral efforts will be critical to preserving Egypt’s malaria-free status,” said Dr Khaled Abdel Ghaffar, Deputy Prime Minister of Egypt.

“I reaffirm that we will continue with determination and strong will to safeguard the health of all people in Egypt under the wise leadership’s guidance and proceed with enhancing our healthcare system, this will remain a cornerstone in protecting the lives of all people living in and visiting Egypt.”

Certification of malaria elimination is granted by WHO when a country has proven, beyond reasonable doubt, that the chain of indigenous malaria transmission by Anopheles mosquitoes has been interrupted nationwide for at least the previous three consecutive years. A country must also demonstrate the capacity to prevent the re-establishment of transmission.

Egypt’s journey to elimination

Malaria has been traced as far back as 4000 B.C.E. in Egypt, with genetic evidence of the disease found in Tutankhamun and other ancient Egyptian mummies.

Early efforts to reduce human-mosquito contact in Egypt began in the 1920s when the country prohibited the cultivation of rice and agricultural crops near homes. With most of Egypt’s population living along the banks of the Nile River and malaria prevalence as high as 40%, the country designated malaria a notifiable disease in 1930 and later opened its first malaria control station focused on diagnosis, treatment and surveillance.

“Today, Egypt has proven that with vision, dedication, and unity we can overcome the greatest challenges. This success in eliminating malaria is not just a victory for public health but a sign of hope for the entire world, especially for other endemic countries in our region. This achievement is the result of sustained, robust surveillance investments in a strong, integrated health system, where community engagement and partnerships have enabled progress. Furthermore, collaboration and support to endemic countries, such as Sudan, remain a priority,” said Dr Hanan Balkhy, WHO Regional Director for the Eastern Mediterranean.

By 1942, malaria cases in Egypt had spiked to more than 3 million as a result of the Second World War population displacement, the disruption of medical supplies and services, and the invasion of Anopheles arabiensis, a highly efficient mosquito vector, among other factors. Egypt succeeded in controlling the malaria outbreak through the establishment of 16 treatment divisions and the recruitment of more than 4,000 health workers.

The construction of the Aswan Dam, completed in 1969, created a new malaria risk for the country, as standing water produced breeding grounds for mosquitoes. Egypt, in collaboration with Sudan, launched a rigorous vector control and public health surveillance project to rapidly detect and respond to malaria outbreaks.

By 2001, malaria was firmly under control and the Ministry of Health and Population set its sights on preventing the re-establishment of local malaria transmission. Egypt rapidly contained a small outbreak of malaria cases in the Aswan Governorate in 2014 through early case identification, prompt treatment, vector control and public education.

Malaria diagnosis and treatment are provided free-of-charge to the entire population in Egypt regardless of legal status, and health professionals are trained nationwide to detect and screen for malaria cases including at borders. Egypt’s strong cross-border partnership with neighbouring countries, including Sudan, has been instrumental for preventing the re-establishment of local malaria transmission, paving the way for the country to be officially certified as malaria-free.

Lagos-Calabar Coastal Highway: Regional planning crucial, says town planner

The Nigerian Institute of Town Planners (NITP) has called on the Federal Government to prioritise urban planning to ensure sustainable and equitable development in Nigeria.

Nathaniel Atebije
Nathaniel Atebije, National President of NITP

NITP President, Mr. Nathaniel Atebije, who made the call in an interview on Sunday, October 20, 2024, in Lagos, stated that urban planning is crucial particularly now that the Lagos-Calabar Coastal Highway project implementation is ongoing.

He said: “What should be done now that we know the alignment of the Lagos-Calabar Coastal Highway is for the government to create plans to manage the land, because immediately you put roads, if you do not create plans, the next thing is: people will begin to develop anyhow, and it becomes haphazard development.

“Such development can even become a security risk to the country, and even the economic benefits that would have been derived from that road will be lost.

“It is good that the government and states affected by this road should immediately create plans for the road and ensure that the corridor is taken very good care of.”

Atebije advised the government to have a dedicated ministry of physical planning for effective urban management.

According to him, this is because people often resist planning regulations due to the perception that they hinder development and freedom.

He said: “Even if people know the importance of planning, because they want to work without control, they rather do that than listen to what town planners have to offer.

“That is why the most critical ministry in government that will be created is ministry for physical planning.”

He urged the Federal Government to ensure that town planners would be appointed to positions related to urban planning for effective implementation of plans.

Atebije cited Lagos State as where the value of physical planning was recognised by government, saying that the state had implemented various urban development plans.

He advised the Federal Government to fully enforce laws governing physical planning.

The NITP president pledged the institute’s commitment to increased awareness among policymakers and the general public on the importance of urban planning.

A former Governor of Lagos State, Mr. Babatunde Fashola, recently urged town planners to be more vocal and proactive in registering their visions and expertise in the Lagos Megacity master plan.

Fashola, who spoke at the Lagos Physical Planning Summit, said that town planners’ responsibilities extended beyond land use planning.

He said that town planners were often overlooked in spite of being key figures in envisioning and implementing a city’s master plan.

By Lydia Ngwakwe

Lagos warns residents over impending heavy rainfall, flood

The Lagos State Government has raised an alarm of renewed threats of flash flood in the state following the intensity of rainfall experienced in the state on Thursday, October 17, 2024.

Lagos flood
A flooded part of Lagos

The government described Thursday’s downpour as the heaviest in many months.

The state’s Commissioner for the Environment and Water Resources, Mr. Tokunbo Wahab, said this in a statement issued on Saturday, October 19.

Wahab said the present situation was coupled with the release of water by the authorities of Oyan Dam.

“The channels could no longer discharge into the rivers,” he said.

He said the intensity of the rainfalls between Wednesday and Thursday had led to the levels of the major rivers rising.

“This is making it difficult for the major drainage channels to discharge until it goes down which is just happening gradually,” Wahab said.

Wahab said the latest flash flood advisory became necessary in view of the fact that the various data gathered from the weather monitoring stations showed that Thursday’s average and maximum values were the highest.

“In the past few weeks, the overall conditions observed show there is a drastic increase in water level at our four gauge stations within the state.

“We are aware that Ogun Osun River Basin Development Authority (OORBDA) is releasing water from two gates of the Oyan Dam as announced earlier.

“A few days ago, at Kara (calibrated), the water level recorded 2.2m and which most likely might hit the threshold any time soon.

“At Isheri-North GRA, the water level recorded 20.02m which is above the flood threshold. These shows that the catchment areas along these axes are already experiencing river flooding.

“At Majidun, in the whole year, the peak water level was recorded on the October 14 at 1.466m while the minimum value was at 0.538m.

“At Falomo, with the incessant rainfall coupled with water releases from the OORBDA, both upstream and downstream of Lagos State will definitely experience flooding along the corridors,” Wahab said.

The commissioner noted that data available for the year showed that the month of October had much higher readings compared to previous months.

Wahab added that minutes and hourly readings for October showed consistently heightened water level readings when compared to previous months and other years.

He advised people living in low lying areas and the banks of the Ogun River to put their safety first by moving upland and prevent avoidable loss of lives and properties.

Wahab, however, warned that the state would still experience more rainfalls this month.

By Fabian Ekeruche

Climate change: Lagos, NCF harp on ecosystem restoration

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The Lagos State Government and the Nigerian Conservation Foundation (NCF) have urged Nigerians to redouble their efforts at ecosystem restoration for the sustenance of the environment.

Walk for Nature
Participants at the 18th Walk for Nature in Lagos

They made the call at the 2024 edition of the Walk for Nature on Saturday, October 19, in Lagos.

Speaking at the event, Mr. Tokunbo Wahab, the Commissioner for the Environment and Water Resources, enjoined everyone to ensure a sustainable future for generations unborn.

Wahab was represented at the event by the Special Adviser on Environment, Mr Olakunle Rotimi-Akodu.

He said the annual “Walk for Nature” comes up every third Saturday of October to raise awareness and advocacy for the protection and conversation of nature.

According to him, the 2024 walk, which marks the 18th edition, has the theme: “Land Restoration, Desertification and Drought Resilience.”

Wahab described the theme as a pointer to the challenges being faced globally due to natural factors, anthropogenic factors and unsustainable practices within the environment.

He said that land degradation, desertification and drought were interconnected challenges affecting the livelihood of people worldwide.

Wahab added that they were exacerbated by deforestation, overgrazing, unsustainable land use such as soil erosion and depreciation.

He said the loss of fertile land space, declining biodiversity increases vulnerability of the ecosystem with far reaching consequences on food security and human well-being.

Wahab said the challenges of human activities have become evident with the escalating impact of depreciation of natural resources resulting in land and habitat loss affecting biodiversity and increasing the effect of climate change.

He noted that Lagos was affected by the effect of climate change such as coastal erosion and land degradation.

He stressed that climate resilient actions were being encouraged by the government in line with the THEMES PLUS agenda of Mr. Governor.

He said the government had been intentional in encouraging tree planting, building of more parks and gardens to protect the environment.

collaboration with NGOs on environmental sustainability and the launching of the Lagos Climate Adaptation and Resilience Plan (LCARP).

“As a frontline state, we must continually strive for improvement, lots of biological and physical solutions will better protect our dear state, the biological solution being low hanging fruits that can be quickly implemented.

“We must as a matter of urgency protect our mangroves which are nature’s gift against coastal erosion and protect our wetlands from encroachment.

“Mangrove afforestation is germane to the state government and collaborative efforts are ongoing to ensure restoration,” Wahab said.

He explained that as the demand for a more sustainable environment quality, public services increase, it is important to stress that the partnership with the private sector equally plays a crucial role in ensuring a more sustainable Lagos.

Wahab commended the Nigerian Conservation Foundation for partnering with the government in ensuring protection of the environment.

He thanked the NCF for its efforts in conserving 78 hectares of land in the Lekki area of the state to serve as a huge buffer in protecting the state and biodiversity against the effects of climate change.

Earlier in his welcome Address, the Permanent Secretary, Office of Environmental Services, Dr Gaji Omobolaji, said the UN Decade of Ecosystem Restoration involves everyone.

Represented by Mr. Mahmood Adegbite, the Permanent Secretary, Drainage and Water Resources, Gaji urged Nigerians to strive to restore the degraded ecosystem and increase the advocacy on ecosystem restoration.

“No one should be left behind in driving ecosystem restoration projects through financial commitments for the benefit of nature and the prosperity of Lagos residents.

“The Walk for Nature is a symbol of the Ministry’s commitment to SDG 17 in partnership with the NCF,” he said.

In her remarks, the Chairman, National Executive Council, NCF, Justice Bukola Adebiyi, said the foundation would continue to promote sustainable land management.

Adebiyo added that the foundation had championed Water Conservation Techniques, Community-Based Natural Resource Management and the implementation of the Great Green Wall Initiative to protect the environment.

She added that these were practical solutions to the problem of desertification in Nigeria.

People from all walks of life joined in the walk for nature conservation and ecosystem restoration.

There was also a commemorative tree planting exercise by both partners to drive home the theme of the event.

By Fabian Ekeruche

Govt assures of security in Nigeria’s forests

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The Minister of Environment, Malam Balarabe Lawal, says the Federal Government is committed to securing the nation’s forests.

Balarabe Lawal
Malam Balarabe Lawal, Minister of Environment

Lawal gave the assurance during the presentation of 11 Safari Hilux vehicles to the National Park Service (NPS) by the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project in Abuja.

ACReSAL is a World Bank-financed project designed to tackle the pressing issues of land degradation, climate change, among others

The minister said that President Bola Tinubu was very much interested in the operations of NPS in order to address the menace of insecurity in Nigeria’s forests.

He expressed worries that some of the forests had become hideouts where bandits and kidnappers keep their victims.

“The handover of these vehicles to the NPS is a demonstration of the president’s commitment to enhancing the capacity of NPS.’’

Lawal said that the deployment of the vehicles would significantly improve the NPS’ effectiveness in combating the dangerous trend of poaching and preservation of the wildlife.

He said it was a milestone event to protect the natural resources of the country.

“The ACReSAL project has made tremendous strides in building community resilience and increasing sustainable landscape management practices; aligning perfectly with our ministry’s vision for environmental sustainability and biodiversity conservation.”

“Notable achievements of the project include the development of six Strategic Watershed Management Plans, restoration total of 77,271 hectares of degraded landscapes and the planting of 1,698,694 trees across the 19 northern states.

“Additionally, the project has improved conservation and park management in Yankari Game Reserve, Jos Wildlife Park, Gombe State Department of Forestry and the NPS,’’ he said.

Abdulhamid Umar, National Project Coordinator for ACReSAL, said that the project intended to address the challenges of land degradation through integrated catchment approach.

“The ICT equipment earlier provided to NPS would assist in improving operational efficiency and effectiveness.

“We are here to provide succour and direct support for biodiversity and revival of the ecosystem that speaks and take care of fauna and flora.

“Also to address transportation challenges, ACReSAL has delivered 11 Hilux vehicles to fast-track activities at 11 national parks across the country.

“In addition to the support, ACReSAL has also assisted in the construction of seven modern rangers guard post in selected parks and some solar panels to forestall power failure challenges,” Umar said.

Responding, Dr Ibrahim Goni, Conservator-General, NPS, commended ACReSAL for its support to the service assuring that the equipment would be put to the best use.

He revealed that ACReSAL also provided a 20kva solar project which addressed the power challenges of the service.

“We are concerned about the regeneration of our forests; national park is the bedrock to the regeneration of forests in the country.’’

He appealed for the review and development of management plans and the system plans of the 11 national parks.

“Also needed is the restoration of 400 hectares of degraded lands of these national parks to alleviate food insecurity and a capacity training of NPS officials by ACReSAL,” he said.

By Abigael Joshua

Shell’s Osagie Okunbor expresses optimism on Nigeria’s oil and gas future at Economic Summit

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Managing Director of Shell Petroleum Development Company Limited (SPDC) and Chairman of Shell Companies in Nigeria, Osagie Okunbor, shared an optimistic outlook on the future of Nigeria’s oil and gas industry during a panel session at the just concluded Nigeria Economic Summit in Abuja.

Shell
L-R: Managing Director, Nigeria Liquefied Natural Gas Limited (NLNG), Philip Mshelbila; Group Chief Operating Officer MRS Holdings, Amina Maina; and Managing Director of The Shell Petroleum Development Company Limited (SPDC) and Country Chair of Shell Companies in Nigeria, Osagie Okunbor, during an oil and gas panel session at the just-concluded 30th Nigeria Economic Summit in Abuja

Speaking on the theme “Fuelling Growth: The Future of Oil and Gas,” Okunbor addressed concerns surrounding the industry, stressing it is far from declining.

“With the enactment of the Petroleum Industry Act and other supporting regulations, the industry is in a much better place,” he remarked.

He also noted that recent presidential directives have introduced much-needed coherence to the sector.

Okunbor highlighted Shell’s commitment to its operations in Nigeria, primarily through SPDC and Shell Nigeria Exploration and Production Company (SNEPCo).

He said: “Through these companies, we collaborate with partners on knowledge sharing, resource pooling and risk mitigation, leading to more efficient and sustainable operations.”

He emphasised the importance of Shell’s technical expertise and resources in supporting Nigerian operations, which contribute to technological advancement and improved efficiencies.

In addition, Okunbor underscored Shell’s dedication to local content development, which has helped to boost economic growth and create job opportunities for Nigerians.

“We actively engage with local communities to address their needs and build sustainable relationships, demonstrating our commitment to social responsibility,” he said.

Okunbor added that Shell would continue to power progress in Nigeria through sustained collaboration for the socio-economic development of the country.

GCF board considers 16 climate investment proposals worth $1bn for approval

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Sixteen new climate project proposals totalling about $1.0 billion of GCF investment will be considered for approval at the Green Climate Fund (GCF) Board Meeting holding this week.

GCF Meeting
The 39th Board meeting of the Green Climate Fund (GCF)

The bold and innovative projects will reach the world’s most climate-vulnerable countries, with first-time single-country projects in Angola, Iraq, Somalia and COP29 host Azerbaijan. Four of the proposed 16 projects mobilise private sector investment.

With the focus on innovative approaches to climate finance, the Board will consider a project introducing a “debt for climate conversion scheme.”  Within GCF’s push to streamline such access and facilitate wider partnerships, the Board will, for the first time, review a proposal under the pilot initiative Project-specific Assessment Approach (PSAA).

The Board will also review the accreditation of five new proposed organisations, three of which are Direct Access Entities, as GCF project implementing partners.

A new accreditation framework to simplify partners’ access to GCF funding and a proposal to mainstream results-based payments for REDD+ will be considered among the agenda items. In addition, the work programmes and budgets for 2025-2027 of the Secretariat and independent units will be presented.

GCF’s 40th Board Meeting (GCF B.40) will be held from October 21 to 24, 2024, in Songdo, Incheon, Republic of Korea.

This will be the third and last Board meeting of the year. If all 16 funding proposals are approved, GCF’s aggregated portfolio will comprise 286 projects, with a total GCF investment of more than $15.9 billion and an overall total of more than $61.5 billion, including co-financing by the year-end.

GCF B.40 will be attended by nearly 400 participants that include observers from civil society and private sector organisations, National Designated Authorities (NDAs), Accredited Entities and other partners who assist in delivering climate finance to developing countries.

GCF Board members and their alternates are drawn equally from developed and developing countries.

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