President Bola Ahmed Tinubu on Tuesday returned to Abuja after a six-day outing in Dubai, the United Arab Emirates (UAE), where he participated in the on-going United Nations Climate Change Conference (COP-28) and some other sidelines engagements.
Tinubu, who arrived at the Nnamdi Azikiwe International Airport, Abuja, at about 6:45pm, while in Dubai, witnessed the signing of an accelerated performance agreement aimed at expediting the implementation of the 12,000 megawatts Presidential Power Initiative (PPI), to improve electricity supply in Nigeria.
In a statement issued Monday, stressing some of the investment and partnership opportunities, as well as benefits accruing to the country from the COP-28, the Minister of Information and National Orientation, Mohammed Idris Malagi, listed some of the earlier mentioned positives.
The statement read in part, “Nigeria and Germany signed an accelerated performance agreement to expedite the implementation of the Presidential Power Initiative (PPI) to improve Nigeria’s electricity supply. The agreement was signed by Mr. Kenny Anuwe, the managing director and CEO of FGN Power Company, and Ms. Nadja Haakansson, Siemens Energy’s senior vice-president and the managing director for Africa, at a ceremony witnessed by President Tinubu and Chancellor Scholz.
“President Tinubu hosted a high-level meeting with stakeholders and investors on the Nigeria Carbon Market and the Electric Buses Rollout Programme on the margins of the COP-28 climate summit.
“The president unveiled the Nigeria Carbon Market Activation Plan, co-chaired by the executive chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji, and the director-general of the National Council on Climate Change (NCCC), Dr. Dahiru Salisu.
“The Electric Buses programme is only the first step in a series of innovative, clean, modern, and sustainable initiatives across diverse sectors, all aimed at simultaneously addressing climate change-related challenges, reducing carbon footprint, modernising infrastructure systems, and positioning Nigeria as an attractive destination for global investments.
“Nigeria stands to benefit from the Loss and Damage Fund established during COP-27 in Egypt and formally operationalised at the opening plenary of COP-28 in Dubai. The Fund will provide substantial non-debt financing to support countries most affected by the impact of climate change. Hundreds of millions of dollars have already been pledged as contributions to the Fund.
“The president also met the President of UAE to concretise engagements between the two countries. This is aside from the bilateral talks held with several countries and multilateral partners.”