Lagos State Government Commits to Low-Carbon Economy Transition

By Abass Ganiyu
Lagos, June 11, 2024 — The Lagos State Government has pledged to mobilize resources for transitioning to a low-carbon economy and supporting those impacted by climate change. This commitment was announced by the Commissioner for Environment and Water Resources, Mr. Tokunbo Wahab, during the 10th Lagos State International Climate Change Summit.

The summit, themed “Accelerating Climate Finance and Championing Local Adaptation Initiatives,” emphasized the urgent need for action in combating climate change. Wahab highlighted the state's determination to create resilient infrastructure capable of withstanding climate impacts.

“This year’s summit is therefore not just a forum for discussion, but a clarion call for action,” Wahab stated. “We must accelerate our efforts to mobilize climate finance and channel it towards projects that prioritize local adaptation initiatives. This means investing in infrastructure that can withstand the impacts of climate change, empowering communities to develop climate-resilient livelihoods, and enhancing our capacity to respond to climate-related disasters.”

Wahab stressed the importance of supporting vulnerable communities disproportionately affected by climate change. “We must embrace their knowledge, experiences, and perspectives as valuable resources to shape effective adaptation strategies that are grounded in local realities,” he said.

Reflecting on the summit's history, Wahab noted its role in fostering dialogue, collaboration, and innovation over the past decade. “From promoting renewable energy to implementing sustainable waste management practices, we have made significant strides in integrating climate actions in Lagos State Development Investment Opportunities and building resilience in the face of climate variability,” he said.

However, Wahab acknowledged the pressing challenges posed by climate change, citing the Intergovernmental Panel on Climate Change’s (IPCC) sixth Assessment Report. He underscored the need for immediate action to mitigate the adverse effects of climate change.

Quoting IPCC Chair Hoesung Lee, Wahab said, “Mainstreaming effective and equitable climate action would not only reduce losses and damages for nature and people but provide wider benefits.” He emphasized the urgency of integrating climate-resilient development measures that simultaneously adapt to climate change and reduce greenhouse gas emissions.

The summit aims to explore strategies for attracting climate finance into adaptation initiatives. “As we embark on this three-day journey of deliberation and collaboration, let us remain steadfast in our commitment to safeguarding our planet for future generations. Together, we can turn the tide against climate change and build a more sustainable, equitable, and resilient future for all,” Wahab concluded.

The Lagos State International Climate Change Summit continues to serve as a crucial platform for addressing climate-related issues, fostering resilience, and promoting sustainable development in the face of climate change.

Our Reporters
Kindly share this story:

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from Goproforum.

Contact: theeditor@akanfemiskeen@gmail.com

Stay informed and ahead of the curve! Follow The GoProForum Newspaper on WhatsApp for real-time updates, breaking news, and exclusive content. Don't miss a headline – join now!

Comments

Post a Comment

Popular posts from this blog

FG votes #2tn for Lagos, calabar, others

By Abass Ganiyu
Image
By Bolanle Esther Feranmi   The National Assembly has passed the N2tn budget amendment bill for the third reading, as the Federal Government is to spend about N2tn on the Lagos-Calabar highway and other road projects. The bill was passed after the Chairman of the Senate Committee on Appropriation, Olamilekan Adeola (APC, Ogun West), presented his committee’s report on the 2024 Appropriation (Amendment) Bill. On July 17, 2024, President Bola Tinubu transmitted to the Senate a bill for an Act to amend the Appropriation Act, 2024 to provide for the sum of N6.2tn with N3.2tn for capital expenditure and N3tn for recurrent expenditure. The document showed that N700bn would be used for the country’s coastal road that would run from Lagos to Calabar, traversing Lagos, Ogun, Ondo, Delta, Bayelsa, Port Harcourt, Akwa Ibom, and Cross River states. The Port-Harcourt to Maiduguri railway line would gulp N530bn, as the line would pass through Abia, Enugu, Ebonyi, Anambra, Benue,...
Read more

Monthly power subsidy soars by 151% to #211bn

By Abass Ganiyu
Image
By Bolanle Esther Feranmi  The electricity subsidy obligation of the Federal Government rose from N252.76bn to N633.30bn in the first quarter of 2024, a report by the Nigerian Electricity Regulatory Commission has disclosed. The NERC said the electricity subsidy skyrocketed to N211.10bn per month in the first three months of 2024, from N84.25bn in the last quarter of 2023. NERC revealed that the increase was largely attributable to the government’s policy to harmonise the exchange rates while also issuing a policy directive that end-user customer tariffs remain at the rates that came into effect in December 2022. “Due to the absence of cost-reflective tariffs across all distribution companies, the government incurred a subsidy obligation of N633.30bn (90.57 per cent of total Nigerian Bulk Electricity Trading Plc invoice) in Q1 2024 (average of N211.10bn per month). Across 2024/Q1, this represents an increase of N380.56bn (150.56 per cent) compared to the N252.76bn (aver...
Read more

Banks and Businesses Shut Down as Hunger Protest Escalates

By Abass Ganiyu
Image
By Feranmi Bolanle Lagos, Nigeria – 1st August, 2024: In a significant display of civil unrest, banks and various businesses across major Nigerian cities were forced to shut down today as a widespread hunger protest intensified. The demonstration, organized by grassroots groups and activists, is drawing attention to escalating food insecurity and economic hardships affecting millions of Nigerians. The protest, which began early this morning, saw thousands of demonstrators taking to the streets to voice their frustrations over soaring food prices and inadequate government responses. Major financial institutions and retail outlets, including several prominent banks, were compelled to close their doors as protestors converged on key business districts. The shutdown of banks and businesses has caused significant disruptions in daily economic activities. Many customers were left stranded, unable to access banking services or conduct transactions. The protestors' demands incl...
Read more