Vice President Yemi Osinbajo has said that has said that the Federal Government would keep its Climate Change commitments and focus on how that works for Nigerians.
Osinbajo said this Friday when he received on a courtesy call a delegation from the World Bank led by its Managing Director of Development Policy and Partnerships, Dr. Mari Pangestu, as well as its Country Director for Nigeria, Shubham Chaudhuri.
The Vice President, who also interacted with officials of the International Monetary Fund on the IMF Article IV bilateral consultations, has been advocating for a just transition to global net-zero emissions, particularly calling on multilateral agencies, and Western countries to stop the planned defunding of fossil fuels/gas projects in developing countries as part of the energy transition plan towards the global net-zero target by 2050.
According to a statement by his spokesman, Laolu Akande, Osinbajo at both meetings with the World Bank MD and IMF officials again noted that Nigeria remained committed in helping to reduce global greenhouse emissions, even as the needs of Nigeria and other developing countries should also be taken into account.
“I think it is very important, at least this is what we are trying to do, to keep our sights on what would work for the majority of our people.
“The truth, of course, is that we have fossil fuel resources, we have all of that, but we have energy issues, distribution and quality of access to energy, as well as clean energy.
“So, those are the issues; access to energy and education, then renewable energy, and how to be able to move quickly enough in terms of putting renewable energy in place,” the Vice President said.
He also highlighted funding challenges for developing countries in its response to climate change and preparation for adaptation, alongside other implications of the Paris Agreement.
As part of that Agreement, a $100 billion per year was pledged by the wealthier economies to help developing economies to respond to the challenges of climate change and support mitigation and adaptation.
In her remarks, Pangestu expressed her delight at visiting Nigeria, disclosing that it was her first country mission since assuming her current position in March.