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NGO Asks FG to Use Carbon Credits to Fund Renewable Energy
NGO Asks FG to Use Carbon Credits to Fund Renewable Energy
By: Michael Mike
A Non-Governmental Organisation (NGO), Vectar Energy has said carbon credits could be the solution to the funding of the nation’s renewable energy plan,
Nigeria is in urgent need of about $40 billion to meet its energy gap, this Vector Energy advised the federal government to tap into carbon credits to fund renewable energy as a solution to the perennial power problem in the country.
Nigeria officially launched its Carbon Market Activation Plan (CMAP) in February 2024 and a supporting policy, the Nigeria Carbon Market Activation Policy (NCMAP), in September 2024, which outlines the strategy to unlock an estimated $2.5 billion market by 2030.
The plan is supported by an inter-governmental committee inaugurated by Vice President Kashim Shettima and aims to accelerate green growth, standardize its carbon market ecosystem, and facilitate international trading under the Paris Agreement
The Founder of Vectar Energy, Deborah Fadeyi, told journalists in Abuja at the maiden EcoWise multi-stakeholder forum under the theme: “Trust, Scale, Impact: Unlocking climate finance through carbon credits for Solar in Nigeria”, that there is an essential need for sustainable solutions through converting solar data into real capital via accelerating climate finance and clean energy in Nigeria .
She said: “access to electricity had become a burden, particularly with not less than 8.6 million Nigerians unable to access electricity, amidst power supply.
Fadeyi noted that: “When we go to COP events, we pretty much ask for aid to be able to build climate resilience, which is one key thing for us as a country.
“Having to build climate resilience through access to electricity, not just for day-to-day, but for sustainable industrialisation, then we realise that aids don’t work.
“The conversation of aids doesn’t work. So how about we trade something? This is where carbon credits come in. If we strive to deploy low-carbon renewable projects, is there a way for us to get concessions from that?
“To be able to finance more renewable energy projects, more solar projects, there is a mechanism for that, it is called the Clean Development Mechanisms.”
She explained further, “such mechanisms could bolster Nigeria’s ability to convert solar data or any sort of low-carbon or renewable green energy data into carbon credits.
“Also that carbon credit is sold to corporate buyers such as Amazon, Microsoft, to be able to showcase their net zero confidence as the world progresses to net zero by 2050.”
Speaking at the occasion, the Ambassador of Israel to Nigeria, Michael Freeman, represented by Thelma Agada, the B-Technology Project Manager, commended Vectar Energy to be the result of the partnership between Nigeria and Israel through the establishment of the Innovate Hub.
The envoy said Nigeria has everything it takes to lead Africa’s clean energy transformation through vast sunlight, abundant natural resources and most importantly, a young, talented, determined population.
“The challenge and the opportunity lies in connecting innovation to implementation and ideas to investment. This forum is exactly the kind of platform that makes such connections possible.
“This brings together government, private sector, academia and development partners, the four pillars that most work hand-in-hand if we can and will achieve the lasting impact.”
Freeman said: “Let me also assure you that Israel stands ready to partner with you on this journey, whether it is through technology transfer, capacity building or joint ventures in renewable energy infrastructure.”
On her part, the Vice President, Renewable Energy Association of Nigeria, Damilola Asaleye, commended the launch of the EcoWise platform by Vectar Energy, to be innovative platform that is needed currently in Nigeria and Africa at large.
She described EcoWise as a platform that is locally built by a Nigerian to bolster sustainable solutions in the renewable energy sector and to enable Africans to have access to climate finance.
She said: “We can have access to environmental finance and then, we can turn all the data from our solar installations right now in Nigeria, we can turn this into revenue through the climate credits.
“I am glad that a private sector, organisation is actually taking the bull by the horn to implement this climate finance platform right now, whereby we can convert climate, environmental data into revenue.
“We do not have to wait for the government for everything to be done. We private sector owners too need to step up to the game and ensure that we have data credibility,” Asaleye said.
Highpoint of the event was EcoWise technical paper launch, virtual presentations on: Nigeria’s solar ambition, empowering people for climate resilient energy access and financing the solar transition.
NGO Asks FG to Use Carbon Credits to Fund Renewable Energy
News
VP Shettima To Insurgents: We Will Not Be Cowed By Attempts To Undermine Our Collective Peace
VP Shettima To Insurgents: We Will Not Be Cowed By Attempts To Undermine Our Collective Peace
By: Our Reporter
Following President Bola Ahmed Tinubu’s reaching out to the government and people of Borno State regarding the latest insurgency attack in the State, Vice President Kashim Shettima has assured that the administration of President Bola Ahmed Tinubu will not be cowed by despicable acts of cowardice and a doomed attempt to undermine the collective peace of the nation.
Deploring the attacks, including the abductions in Ngoshe and the coordinated assaults on military formations in Konduga, Marte, Jakana, and Mainok, the Vice President reaffirmed that the administration remains resolute in its duty to protect the lives and properties of all Nigerians.
In a statement on Saturday, Senator Shettima emphasised that the Federal Government is already deploying additional tactical assets and intelligence-driven reinforcements to the affected areas.
“The events of the past few days are a painful reminder of the shadow that persists, but let it be known: we choose light over shadow, and hope over despair. Our difference as a nation is the distance between the ruin of anarchy and the promise of order.
“President Bola Ahmed Tinubu has been briefed and has already directed a swift and total mobilisation of our security architecture. The Federal Government will not tolerate any sanctuary for those who seek to displace our people or occupy an inch of Nigerian soil,” he said.
The Vice President assured that the perpetrators of these beastly crimes would face the full wrath of the law.
He continued: “We are not just fighting a war. We are defending the very soul of our humanity against those who preach a toxic rhetoric of hate, and we will not be cowed by their gory acts.
“Our hearts bleed for the families in and the brave soldiers who paid the supreme price in the line of duty. This administration will not rest until abducted citizens safely reunite with their families.”
VP Shettima commended the resilience of the people and government of Borno State under Governor Babagana Zulum and praised the gallantry of the troops on the frontlines.
“We remain one nation, tied to a common destiny. The sanctity of human life is non-negotiable. This madness will be brought to an end, not with empty words, but with the decisive and overwhelming force of the Nigerian State,” he further assured.
VP Shettima To Insurgents: We Will Not Be Cowed By Attempts To Undermine Our Collective Peace
News
Two miners killed, five injured in clash at Zamfara mining site
Two miners killed, five injured in clash at Zamfara mining site
By: Zagazola Makama
Two miners have been killed and five others injured following a clash at a mining site in Abare area of Bukkuyum Local Government Area of Zamfara.
Police sources said the incident occurred on March 5 at about 8:30 a.m. at a mining site in the community.
The sources said the crisis was triggered when a member of an outlawed vigilance group, locally known as Yan Sakai, allegedly stormed the site and attempted to enforce observance of the ongoing Ramadan fast among Muslim miners.
According to the sources, the suspect, identified simply as Kaura, allegedly arrested some of the miners, accusing them of refusing to observe the fasting period.
He was also said to have imposed compulsory levies on those arrested.
The action was reportedly resisted by some miners who objected to the arrest and the alleged illegal levies.
The suspect was said to have retreated from the site following the resistance but later returned with other members of the outlawed group and attempted to effect further arrests.
This led to a confrontation between the two groups, resulting in panic and tension across the mining site.
During the clash, two miners were killed while five others sustained injuries.
Security forces were immediately deployed to the scene after receiving the report.
The injured victims were taken for medical treatment, while investigations have commenced to identify and apprehend those responsible.
No arrest had been made as of the time of filing the report.
Two miners killed, five injured in clash at Zamfara mining site
News
Army troops neutralise 45 bandits in Katsina, including top bandit leader Kachallah Alti
Army troops neutralise 45 bandits in Katsina, including top bandit leader Kachallah Alti
By: Zagazola Makama
Troops of the Nigerian Army have neutralised 45 suspected bandits during a fierce encounter in Danmusa Local Government Area of Katsina State.
Security sources said the operation followed credible intelligence on the movement of bandits suspected to be operating across parts of Katsina and neighbouring Zamfara.
Among those killed during the operation were two top bandit leaders identified as Alti, said to be a nephew and second-in-command to notorious bandit kingpin Adamu Alieru, and another commander known as Damale.
The sources said the confrontation occurred after bandits riding on motorcycles and armed with sophisticated weapons attacked Alhazawa village in Musawa Local Government Area on March 5, rustling cattle from residents.
Community members and some repentant bandits in the area reportedly resisted the attack, killing four of the bandits and recovering the stolen cattle, which were returned to their owners.
However, the bandits were said to have regrouped and returned in larger numbers on March 6, allegedly to launch a reprisal attack.
While moving toward Musawa through Maidabino A Ward, the bandits encountered troops deployed at the Forward Operating Base (FOB) in Dan Ali, Danmusa LGA.
This led to a fierce gun battle during which troops overpowered the criminals and neutralised 45 of them.
However, the operation recorded casualties on the side of the military as three soldiers were killed during the encounter.
Further checks indicated that Alti had recently assumed a more active operational role within the bandit network after the death of his brother, Kachalla Dan Isihu, who was previously killed by security forces during counter-banditry operations.
Alti was said to have coordinated several violent attacks across communities, particularly along the Danjibga axis in Tsafe Local Government Area of Zamfara.
Security sources said troops had intensified operations in the area to track down other fleeing bandits and dismantle their networks.
Army troops neutralise 45 bandits in Katsina, including top bandit leader Kachallah Alti
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