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COP29 SURPRISED NO ONEText of CSOs Media Briefing held in Abuja on 4th December 2024 on the outcome of COP29 and the way forward

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COP29 SURPRISED NO ONE
Text of CSOs Media Briefing held in Abuja on 4th December 2024 on the outcome of COP29 and the way forward

By: Michael Mike

The Conference of Parties (COP) of the United Nations Framework Convention on Climate Change (UNFCCC) held its 29th session at Baku Azerbaijan on10-24 November 2024. COP29 as it is popularly known was tagged a Finance COP and that raised the hopes of poor, vulnerable nations that finally, climate finance would make sense. They were rightly enthused by the fact that the Loss and Damage mechanism agreed to at COP27 in Egypt was endorsed at COP28 in the United Arab Emirates (UAE). However, optimists forgot that tagging COP27 an African COP did not make it an African COP. That conference was actually the fifth COP held in Africa.

COP29 failed spectacularly on the finance note and the leader of the Nigerian delegation rightly called the minuscule amount offered an insult. We applaud the Director General of the Nigerian Climate Change Commission (NCCC) for her forthright submission.

AMBITIONS GAP

Scientists inform us that 2024 is the hottest year on record. The year has also recorded a high number of disastrous weather events. The fact that climate action requires scientifically derived, binding and distributed emissions reduction cannot be denied otherwise the trend will persist. The UNFCCC core justice basis is the Common But Differentiated Responsibilities (CBDR). This principle requires that the rich and highly polluting nations who contributed disproportionately to the stock of greenhouse gases in the atmosphere must own up to their historical responsibility, cut emissions at source and provide finance to help the vulnerable nations that have not contributed to the problem at any significant level.

This principle was essentially turned on its head when the Copenhagen Accord outcome of COP15 held in December 2009 signaled the ascendancy of voluntary emissions reduction by every nation — polluters and non-polluters. That outcome gave rise to the so-called Nationally Determined Contributions (NDCs) plank of the Paris Agreement. Nations need to show high levels of ambition in terms of emissions reduction if the world is to experience temperature levels within the limits set by the Paris Agreement. This has not happened.

EMISSIONS GAP

Emissions Gap reports issued by the United Nations Environment Programme (UNEP) in 2023 and in 2024 clearly show that if nations carry out their NDCs, the world would experience temperature increases far above the 1.5C and 2.0C targets set by the Paris Agreement.

The latest Emissions Gap report shows that if countries continue with their current policies, the world stands a 90 per cent chance of hitting a temperature increase far above 3.6C or 3.4C if they carry on with unconditional NDCs and 3.0C with conditional reductions.

Nations carry on as if we are not living in an emergency even though the Emissions Gap report came out just before COP29. When we consider the impacts of weather events being currently experienced at 1.1C above preindustrial levels, it is not difficult to see that the world is already in injury time.

FINANCE GAP

The so-called finance COP was shy of mentioning how much the rich polluting nations would contribute to help vulnerable nations adapt and build resilience to the scourge. The figures were literally kept to the dying hours of the conference and was eventually rushed through to the disappointment of many.

Talks of loss and damage and other instruments of climate finance became largely muted. In their place emerged a contentious concept of New Collective Quantified Goals (NCQG) – a new mechanism requiring that everyone contributes to the finance pot in the same thought pattern that birthed the Nationally Determined Contributions (NDC), the hallmark of voluntary emissions reduction according to convenience.

We recall that at COP15 in 2009 the pledge was to pay $10bn dollars yearly from 2010 to 2020 and raise that to $100bn from 2020. Those targets never materialized. The New Collective Quantified Goal (NCQG) was presented as a means of raising funds needed to support mitigation, adaptation, and loss and damage in developing and climate-vulnerable countries, found mostly in the Global South. The amount needed was put at a minimum of $1.3 trillion annually, although civil society analysts put the climate debt at $5-8 trillion annually.

COP 29 came up with a miserly $300 billion which would come into effect in 2035. The COP clearly ignored the call of vulnerable nations and global civil society and Indigenous peoples for rich and historically responsible nations to Pay Up and to do so in Trillions not Billions.

When the COP deferred the date for providing needed funds to 2035 there doesn’t appear to be any consideration of the scale of the climate disasters that the world may be facing then. It has also been estimated that the $300 billion would be worth just $175 billion by then using current inflationary trend.

Another concern is that even the promised $300 billion may come through so-called innovative financial sources that include loans and would increase the already huge debt burdens of the poor countries.

Climate finance can readily be raised by redirecting funds from military expenditure that saw rich nations spend up to $2.4 trillion in 2023. Halting fossil fuel subsidies and holding polluters accountable would raise more than $5 trillion annually. So, the problem is not a lack of cash, but a matter of priority.

FALSE SOLUTIONS

COP29 opened with the COP president gaveling through mechanisms to operationalize carbon markets and other market-based mechanisms under Article 6.4 of the Paris Agreement. Parties formally adopted a decision text for Article 6, that formally set the stage for a global expansion of carbon markets, entrenching false solutions and deepening climate injustice.
Carbon markets provide a lifeline for polluters and fossil fuel companies who could now buy the license to continue polluting. It was a triumphant season for the over 1770 contingent of fossil fuel lobbyists, who ensured that attention drifted from ending the primary cause of climate change and elevated false solutions instead. This fossil delegation was larger than the combined delegations of the 10 most climate-vulnerable nations.

We are concerned that the new opening to carbon markets and mechanisms will divert funds to false solutions such as carbon capture and storage, geoengineering, carbon offsets, carbon credits, biodiversity credits, and other market-based schemes that perpetuate climate chaos, and violate the rights of Indigenous peoples.

CARBON COLONIALISM

Already the African continent is exposed to not just mere land grabs but a continent grab. Some countries have mortgaged their forests to carbon speculators with some ceding up to 10 and 20 percent of their total land mass. In Nigeria there is a rise of speculators grabbing hundreds of thousands of mangrove forests to enable the so-called investors trade in blue and other colors of carbon. States being enticed to fall into this web include Delta, Rivers, Akwa Ibom, Cross River and Niger. A particularly worrisome note is the plan of Niger State to give 16% of its land mass to a Brazillian meat packaging company which will inevitably have dire socioeconomic-economic as well as climate consequences.

WAY FORWARD

  1. We call for community-led solutions to halt pollution at the source, ensure sovereignty of our peoples over their forests, water bodies and general territories.
  2. We demand the recognition by rich, polluting and industrialized nations, of a climate and ecological debt they owe and payment of same. This debt is estimated at an annual rate of $5-8 trillion and its payment will end the squabbles over climate finances whose targets are set but are never pursued or met.
  3. We call for an end to false solutions and demand the halting of emissions at source by urgently phasing out fossil fuels. Communities and nations that have kept fossil fuels in the ground should be recognized as climate champions and duly compensated for such actions. The people of Yasuni in Ecuador, Ogoni in Nigeria, Lofoten in Norway and others have shown the way.
  4. We demand an urgent clean up of areas polluted by fossil fuel exploitation and provision of clean renewable energy to energy poor communities.
  5. Nigeria and other African countries should place a ban on geoengineering experimentations, including solar radiation management, ocean fertilization, rock weathering and others.
  6. We denounce false solutions and market-based mechanisms that include carbon offset schemes, carbon removals and others.
  7. The energy and other transitions must promote human rights and be inclusive of gender responsive efforts with communities duly integrated in the decision making processes.
  8. Countries who do not support fossil fuels phase out should be barred from hosting the COP, and polluters should not be kept out of the COP.
  9. Real street marches and protests should not be hindered on the Global Days of Action during the COP as has been the case at recent conferences.
  10. COP30 should be a truly peoples’ COP where voices of youths, women, indigenous and impacted communities take centre stage.
  11. Loss and Damage should be fully addressed under the concept of Climate Debt.
  12. Massive Investment in Just Transition through a non-extractive model, prioritizing community-driven solutions such as agroecology that address the intersecting crises of climate and social inequity.
  13. We call for the recognition of the Rights of Nature in the negotiations, rejection of the commodification of nature and protection of our forests and biodiversity.
  14. We call for investment in peace building, not war and genocide.
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AMF Celebrate the African Child: Building Foundations for Dreams, Learning, and Leadership

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June 16, 2026

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AMF Celebrate the African Child: Building Foundations for Dreams, Learning, and Leadership

By Comrade Philip Ikodor

The Ashlee Momoh Foundation today joined the global community to commemorate the International Day of the African Child, reaffirming its commitment to the safety, education, and empowerment of children across the continent.

In a statement issued to the media, the Founder and Lead, Princess Ashlee Omonegbo Momoh, said the Foundation stands firmly behind efforts to help every African child reach their full potential.

“While we celebrate the vibrancy, brilliance, and resilience of African children, we must also confront the systemic barriers that still limit their growth,” Princess Momoh stated.

Key Challenges Facing the African Child Today:

  1. Education Gaps: Millions lack access to quality education, digital literacy, and inclusive learning environments.
  2. Socio-Economic Barriers: Pervasive poverty drives child labor and denies many children basic healthcare, nutrition, and stable housing.
  3. Security and Instability: Armed conflict and community violence continue to threaten the safety, mental health, and future of children in vulnerable and military-affected communities.

AMF’s Call to Action:
To truly empower the African child, stakeholders must shift from short-term relief to sustainable, localized investment. The Foundation calls on governments, civil society, and private sector partners to collaborate in:

  1. Building safer, child-friendly communities
  2. Subsidizing healthcare and expanding access to quality education, including digital skills
  3. Creating inclusive learning spaces that protect children from conflict and displacement

“Every child deserves a secure foundation to dream, learn, and lead. At the Ashlee Momoh Foundation, we remain committed to building that foundation — together,” Princess Momoh added.

The Ashlee Momoh Foundation is a Nigeria-based nonprofit dedicated to advancing child welfare, education, and empowerment across Africa through sustainable programs, advocacy, and strategic partnerships.

AMF Celebrate the African Child: Building Foundations for Dreams, Learning, and Leadership

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A New Dawn for Nigeria’s Power Sector: Minister Tegbe’s Brilliant Start

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June 16, 2026

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A New Dawn for Nigeria’s Power Sector: Minister Tegbe’s Brilliant Start

By: Lateef O. AREMU

Just few days into his tenure, Nigeria’s new Minister of Power, Engineer Joseph Olasunkanmi Tegbe, has already begun to illuminate the path towards a more stable and efficient electricity supply for the nation. Sworn into office on June 9, 2026, Minister Tegbe’s initial pronouncements and decisive actions reflect a profound understanding of the sector’s complexities, a testament to his distinguished professional background, intellectual brilliance and clear demonstration of the understanding of the task ahead. The minister unlike many before him did not over simplify the task at hand. He acknowledged the challenges and meticulous outlined the approaches towards finding solutions to the problem. He is not promising immediate miracle, but steady growth and measurable efforts towards achieving the set goals.

Minister Tegbe arrives at the helm of the Power Ministry with an impressive pedigree. A former Senior Partner and Head of Technology Advisory Services and Markets at KPMG Professional Services in Nigeria and across Africa, he has a proven track record of leading major reform initiatives, developing robust governance structures, and navigating intricate regulatory frameworks. His extensive experience in advisory services, coupled with his qualifications as a Fellow of the Institute of Chartered Accountants of Nigeria (FCA) and a Fellow of the Chartered Institute of Taxation of Nigeria (FCIT), positions him uniquely to tackle the multifaceted challenges plaguing Nigeria’s power sector.

In his inaugural engagements, Minister Tegbe wasted no time in outlining a clear vision. He pledged to strengthen collaboration, improve governance, and enhance accountabilityacross the entire electricity value chain. This emphasis on systemic improvements, rather than solely technical fixes, directly mirrors his background in advisory and governance. His insight that
many of the sector’s challenges are rooted in governance and coordination rather than purely technical issues is a direct reflection of his strategic thinking honed at KPMG, where he led advisory services focused on governance and regulatory frameworks.

One of his immediate and commendable actions was to rally Chief Executive Officers and Heads of Agencies and Parastatals under the Federal Ministry of Power. During this crucial meeting, Minister Tegbe underscored the necessity of a unified and coordinated approach among all stakeholders to achieve the administration’s goals for the Power Sector. This call for synergy, urging stakeholders to operate as “one team with one mandate” is a pragmatic approach to a sector historically plagued by siloed operations and a lack of cohesive strategy. His ability to quickly identify and address this fundamental organizational challenge speaks volumes about his leadership and analytical prowess.

Furthermore, Minister Tegbe has already demonstrated a commitment to tangible results. He commended the Transmission Company of Nigeria (TCN) for its prompt response to a recent feeder outage, which was resolved within the timeframe he directed. This swift restoration of supply, which he noted was reported directly to President Bola Ahmed Tinubu, highlights his dedication to urgency and service delivery, a quality that will undoubtedly instill confidence in both the public and sector operators.

Looking ahead, the Minister disclosed plans to introduce a performance-based incentive framework across the power sector to reward productivity, innovation, and excellence. This initiative is a clear demonstration of his understanding of motivational strategies and his commitment to fostering a culture of accountability and efficiency. This is the kind of principles often championed in top-tier consulting firms like KPMG. Such a framework is designed to drive continuous improvement and ensure that all stakeholders are aligned with the overarching objective of enhancing electricity supply.

In just a few short days, Engineer Joseph Olasunkanmi Tegbe has not only articulated a clear vision for Nigeria’s power sector but has also initiated concrete steps towards its realization. His blend of deep technical understanding, strategic leadership, and a commitment to good governance, all honed through years of high-level advisory work, positions him as a transformative figure.

As Joseph Olasunkanmi Tegbe assumes the role of Nigeria’s minister of power, Nigerians can look forward to a future where the brilliance of their Minister of Power translates into a consistently brighter and more reliable electricity supply.
With Joseph Olasunkanmi Tegbe at the helms of affairs in the power sector in Nigeria, Nigeria can rest asuured that “there is light at the end of the tunnel”

Lateef O. AREMU (Akano Gudugba)
S3 /706D
Odo-Ada Compound,
Oke-Eleta, Ibadan
08162994660
akanoola@gmail.com

A New Dawn for Nigeria’s Power Sector: Minister Tegbe’s Brilliant Start

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NDLEA Sells Drug Barons’ Assets for N6.1bn, Sends Warning to Criminal Networks

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June 16, 2026

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NDLEA Sells Drug Barons’ Assets for N6.1bn, Sends Warning to Criminal Networks

By: Michael Mike

The National Drug Law Enforcement Agency (NDLEA) has dealt a major financial blow to drug trafficking syndicates, raising over N6.1 billion from the auction of properties confiscated from convicted drug kingpins across the country.

The assets, which include a six-storey luxury hotel in Victoria Island, Lagos, and three other high-value properties, were forfeited to the federal government following court orders obtained under Nigeria’s asset recovery laws.

The Victoria Island hotel accounted for the bulk of the proceeds, attracting a winning bid of N5.9 billion during a public auction conducted in Abuja on Monday. Altogether, four properties were successfully sold, while bids submitted for four others fell below the approved reserve prices and were consequently rejected.

The exercise marked one of the most significant asset recovery auctions conducted by the anti-narcotics agency in recent years and underscores a growing determination by authorities to target not only drug traffickers but also the wealth accumulated from illicit activities.

Announcing the results, the Head of Asset Recovery and Management Unit at the Federal Ministry of Justice, Tamarantare Francis Ali-Bozi, disclosed that Tope Ojo and Tunde Olonishakin Estate Firm emerged the successful bidder for the Victoria Island hotel.

Other successful bidders included FSS Limited, which secured a property in Lekki Phase 1, Lagos, with an offer of N219.5 million; A-BNB Global Innovations Limited, which won a block of flats in Ejigbo, Lagos, for N104 million; and Fazeen Global Link Limited, which acquired a property in Akure, Ondo State, for N29.36 million.

Speaking at the ceremony, Chairman and Chief Executive Officer of NDLEA, Brigadier General Buba Marwa (rtd), declared that the auction represented more than a revenue-generating exercise, describing it as a strategic weapon in the fight against organised crime.

Represented by the agency’s Secretary, Shadrach Haruna, Marwa said the disposal of recovered assets sends a strong signal that individuals involved in the illicit drug trade would not be allowed to retain or benefit from the proceeds of their crimes.

He noted that public auctions of forfeited assets help reinforce public trust in the justice system by demonstrating transparency and accountability in the management of recovered properties.

According to him, the agency remains committed to tracking, recovering and disposing of criminal assets in a manner that serves the public interest while strengthening Nigeria’s asset recovery framework.

“We shall continue to pursue drug traffickers, dismantle criminal networks, recover the proceeds of crime and uphold the rule of law without fear or favour,” he stated.

Marwa also stressed that extensive safeguards were put in place to guarantee the integrity of the process. He said all assets were professionally valued by the Federal Ministry of Housing and Urban Development, while auctioneers engaged for the exercise were screened and pre-qualified through procedures approved by the Bureau of Public Procurement.

The NDLEA boss added that representatives of anti-corruption agencies, civil society organisations, the media and members of the public were invited to witness the bid-opening exercise in order to ensure transparency and public confidence.

He maintained that the auction was conducted in strict compliance with the provisions of the Proceeds of Crime (Recovery and Management) Act, 2022, the Public Procurement Act, 2007, and other relevant regulations.

Analysts say the successful sale of the forfeited properties highlights a growing shift in Nigeria’s anti-drug strategy from merely arresting traffickers to systematically dismantling the financial foundations of criminal enterprises.

For law enforcement authorities, the message is unmistakable: drug trafficking may generate vast fortunes, but those fortunes can ultimately be traced, seized and converted into public assets.

NDLEA Sells Drug Barons’ Assets for N6.1bn, Sends Warning to Criminal Networks

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