Climate Action: Tinubu Urges IMF, World Bank to Boost Funding
By: Abudu Olalekan
Last month, at the UN General Assembly in New York, President Bola Tinubu stood before world leaders and dropped a truth bomb. Climate change isn’t some far-off threat—it’s here, and Nigeria’s feeling the heat. Literally.
“Climate action is not a choice; it’s an existential necessity,” he said. But here’s the kicker: words alone won’t cut it. The president wants cold, hard cash. Billions of it.
Tinubu, represented by VP Kashim Shettima, called out heavyweights like the World Bank, IMF, and African Development Bank. “Scale up the funds,” he urged. His ask? A cool 7–10 billion in grants and low-interest loans to supercharge Nigeria’s green transition. Think solar farms, reforestation, and climate-proof infrastructure.
But why the urgency? Let’s get real. Nigeria’s coastlines are eroding. Farmers face droughts that turn fields to dust. Floods swallow homes overnight. It’s a mess. And with 200 million people, the stakes? Sky-high.
Tinubu’s plan? Rake in 20–25 billion by 2030. Mix green bonds, private cash, and public-private partnerships. He’s already axed fossil fuel subsidies—a bold move that’s sparked protests but aims to redirect funds to renewables. Tax laws got a facelift too, to lure investors.
Then there’s the carbon market angle. By 2030, Nigeria wants $2.5 billion from selling carbon credits. Imagine companies worldwide paying to offset emissions by investing in Nigerian projects. It’s like turning trees into treasure.
The president’s NDC 3.0 plan? Ambitious. Slashing deforestation by 60% could lock away 304 million tons of CO2. Reforestation adds another 34 million tons. Solar and gas plants (50-50) will crank up 7GW of clean energy. Public transport’s going electric. Factories? They’re getting efficiency makeovers.
Health and education got shoutouts too. Rare for climate plans, but Tinubu linked rising temps to malaria spikes and school closures. “We’re all in,” he said.
But here’s the rub: Nigeria can’t do it alone. The president’s plea? “Honor the $100 billion climate finance pledge.” Sound familiar? It’s a Paris Agreement promise from 2009 that’s still unmet.
Back home, Nigeria’s setting up a National Council on Climate Change. accountability? Yep. But will global leaders listen?
At a New York café post-speech, a Nigerian delegate sighed. “We’re doing our part. Where’s theirs?”
Time’s ticking. For Nigeria, it’s adapt or drown. For the world? A test of whether “global partnership” is more than a buzzword.
