GOVERNMENT ALLOCATES N60 BILLION FOR ENVIRONMENTALLY FRIENDLY INITIATIVES IN 2024 TO TACKLE CLIMATE CHANGE

The 2024 budget allocates N60 billion for the implementation of projects aimed at achieving the Net Zero target by 2060, with a focus on reducing emissions. Dr. Iziak Salako, the Minister of State for Environment, highlighted that the funding would be sourced from the third issuance of the Sovereign Green Bond. Speaking at the Green Bond Programme’s Inter-Ministerial Committee on Climate Change Meeting in Abuja on Wednesday, he emphasized Nigeria’s commitment to the Net-Zero goal declared in 2021.

This commitment necessitates ongoing and successful implementation of the Green Bond program to support the country’s environmentally friendly capital projects. Salako noted the plan for incremental year-to-year issuances from 2024 to 2027, starting with a larger issuance of N60 billion in 2024, dedicated to impactful green projects aligning with the nation’s low emission targets.

From the News Source: DailyTrust