Nigeria’s Vice president, Yemi Osinbajo, says Africa can become the first green civilization to use renewable fuel for the purpose of a transformative economy by using its young population and effectively deploying green manufacturing on a scale required to become the global factory of the world.
Osinbajo said this during the official signing of the carbon-vista joint venture agreement between the Nigerian Sovereign Investment Authority, NSIA, and its development partner, Vitol.
The Carbon Vista agreement is aimed at supporting Nigeria to meet her net zero targets through investment in carbon-avoidant and removal projects like water purification, reforestation clean cooking that essentially generate carbon credit that can be validated, registered, and subsequently monetized.
While promoting the United Nation’s sustainable development goals
Vice President Yemi Osinbajo noted the importance of the carbon market and the massive economic opportunities it offers.
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Nigeria’s Minister of Finance, Budget and National Planning said that the carbon vista agreement represents another milestone to build critical infrastructure and create investment opportunities to drive economic growth in Nigeria.
The Nigeria Sovereign Investment Authority is the custodian of the Nation’s economic resources for the next generation and tackling climate risk that has an adverse effect on the environment and on the well-being of the next generation of Nigerians remains one of the core objectives of the authority.
(Editor: Ena Agbanoma)
