Background
Mainstreaming climate action into Nigeria’s development plan presents opportunities to raise the finance it critically needs to support a bold and dynamic new economic programme. These opportunities involve engaging with development finance institutions and the private sector to raise the financing needed to plan and execute a broad-based decarbonisation programme, such as the Just Energy Transition Partnership agreements South Africa, Indonesia, Vietnam, and most recently Senegal have entered into with a coalition of financing partners.
However, none of this is possible without putting in place the right policy, legal and regulatory framework, where institutions and other market players are clear on their roles, responsibilities, functions, and powers - a framework within which the players collaborate. More so is the need to ensure that the design and implementation of a climate and energy transition plan is inclusive, informed by local realities, underpinned by credible data, and based on its development agenda. The quantum of climate finance available to Nigeria will likely be proportional to the level of external confidence in the depth, efficacy, sustainability and credibility of Nigeria’s climate and energy transition architecture.
In collaboration with key government institutions, the Africa Policy Research Institute (APRI) carried out a mapping exercise on the climate and energy transition landscape in Nigeria between Q2 and Q3 2023. The exercise aimed to refine the overarching energy transition architecture to make it more inclusive, provide it with stronger political will from the very top to ensure greater policy coordination and buy-in across government, and align with national development goals, global climate commitments, and the new policy thrust of the administration. A report was developed which explored Nigeria’s preparedness to access climate finance and effectively incorporate climate action into its economic and developmental agenda. Development of the report also included consultations with over fifty stakeholders representing twenty-four MDAs, development finance institutions, traditional donors and philanthropies, civil society organizations, and representatives of the private sector. The mapping exercise provided a detailed list of recommendations to be implemented in resolving the challenges and barriers to climate action in Nigeria.
The objective of this workshop is to review the climate transition landscape to inform ongoing efforts in developing Nigeria’s climate and energy transition architecture. Participants include selected government institutions, bilateral partners, development institutions, and philanthropic organizations.
Objectives
The objectives of the event are to:
- Present findings from the mapping exercise and recommendations for the government on Nigeria’s climate ambition and energy transition.
- Discuss what Nigeria’s climate and energy future will look like considering global climate and energy geopolitics, energy security concerns, and global push for just energy transitions.
- Deliberating on the observed regulatory incoherence in the hydrocarbon sector towards effective methane emission mitigation.
- Identify and discuss the economic, financial, technical, capacity, data, policy and other key considerations that need to be made for Nigeria’s climate ambition.
Propose a clear approach and strategy for the government in collaboration with development, philanthropy and private sector partners, for Nigeria’s low net emissions growth.
