The Nigeria Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL) has resolved to deepen its collaboration with the Federal Ministry of Environment to reduce the national emission level by achieving the Nationally Determined Contributions (NDC) of 20 to 30 per cent by 2030.
The MD/CEO of NIRSAL, Mr Aliyu Abdulhameed, stated this during a courtesy visit to the Minister of Environment, Suleiman Hassan Zarma, in Abuja, recently. He said “our national commitment of 20% emission reduction (unconditional) and 45% (conditional) from Business As Usual (BAU) by 2030 is dependent, to a large extent, on the success of our projects and programmes in the agriculture sector.”
Abdulhameed said: “These projects and programmes demonstrate our continued contribution to the nation’s NDC in key sectors such as agriculture, forests, renewable energy, industry, and commerce.”
“Financing Nigeria’s NDC goals and targets is estimated by your Ministry to cost about $142 billion which, therefore, implies that multiple climate finance sources need to be proactively and strategically explored and leveraged,” he added.
“We can achieve a lot by leveraging on dedicated financial resources set aside by the UNFCCC financial mechanism, especially the Green Climate Fund (GCF), Adaptation Fund (AF) and Global Environmental Facility (GEF),” he said.
While noting that they can jointly achieve about 25 to 30 per cent of the nation’s NDC goals, he said, “We are committed to supporting the policy targets which are in alignment with NIRSAL’s mandate as set in those documents.”
He commended the ingenious efforts of the minister and his team in developing initiatives with great potentials to deliver economic growth, mitigate the effects of climate change and spur a new era of climate-compatible development of the Nigerian economy by working with relevant stakeholders.
Responding, Surv Zarma commended NIRSAL for the contributions it has given to his ministry in collaborating with them for successful international outings and being part of their delegation to the UK last year.
He expressed appreciation on their participation and support, saying, “you have given us the tune of N1.5 million for acquisition and operationalisation of Nigeria’s pavilion at Cop 24.”
Zarma also noted that FEC has approved the rectification agreement of the International Solar Alliance, making them a full member to enjoy all the benefits due for them, noting “that wouldn’t have happened without your collaboration and participation.”