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  •   Experts from the African Development Bank www AfDB org and the International Monetary Fund IMF have emphasized the urgency of mobilizing climate finance for Africa during a round table on the African Economic Outlook 2022 of the African Development Bank https bit ly 2Z1dRwt hosted by the IMF in Washington DC on Monday Meeting participants heard that African countries must mobilize 1 6 trillion between 2022 and 2030 to meet their Nationally Determined Contributions to fight climate change So far they have only received 18 3 billion annually leaving a funding gap of 108 billion annually On current trends Africa s NDCs will not be achieved Africa has huge comparative advantages to lead the world in this new green transition but lacks the capital to do so Kevin Urama Acting Chief Economist and Vice President of the African Development Bank said in his presentation The panel was made up of Prof Urama the Deputy Director of the IMF Fiscal Affairs Department and Climate Change Policy Coordinator James Roaf and Anthony Simpasa Acting Manager of the IMF s Macroeconomic Policy Debt Sustainability and Forecasting Division African Development Bank It was moderated by Cathy Pattillo Deputy Director of the IMF s African Department Urama emphasized that the findings of the 2022 African Economic Outlook show that the structure of climate finance is very complicated and creates a misallocation of resources As a result the main goal of climate finance to support climate vulnerable countries is not being achieved A fundamental existential problem for Africa is climate change The countries that are receiving climate financing are the least vulnerable said Urama Abebe Selassie Director of the IMF s Africa Department noted that African policymakers face the unenviable task of investing trillions of dollars in the major energy transition the region needs to advance its development Selassie said At the same time they are being asked to think about the adverse effect this may have on climate change but advanced countries that have benefited from climate unfriendly policies are unwilling to support development in the region This is an issue that policymakers bring to us when we engage with them on the financial challenges they face Selassie described the findings of the 2022 African Economic Outlook as sobering noting that it raised some deep issues The IMF s Deputy Director of the Fiscal Affairs Department and Climate Change Policy Coordinator James Roaf identified adaptation as the biggest problem for Africa Roaf said The African Economic Outlook rightly emphasizes the need to integrate climate goals into broader sustainable development pathways We need to focus on making the most of the opportunities offered by the clean energy transition so that climate adaptation and mitigation policies go hand in hand with growing prosperity Furthermore he drew attention to what countries can do on their own to maximize climate finance and make the most of it Mobilizing the private sector is essential with policies such as carbon pricing to encourage investment in renewable energy or improving adaptation incentives by reinforcing property rights or strengthening regional trade In closing Urama emphasized the need for a different approach to solving the climate challenge in Africa What I see are opportunities to do things differently so that we re not using an old map to chart a new world This will include compensation he said How do we work together as a global community to solve this global commons challenge for ourselves our children and future generations The 2022 African Economic Outlook https bit ly 2Z1dRwt theme Supporting Climate Resilience and a Just Energy Transition in Africa highlights climate change as a growing threat to lives and livelihoods in Africa Click here https bit ly 3BkWdGH to watch a recording of the panel discussion Click here https bit ly 3z8tAdj to see the photos
    African Economic Outlook 2022: Experts from the African Development Bank and the International Monetary Fund underline the urgency of climate finance for Africa
      Experts from the African Development Bank www AfDB org and the International Monetary Fund IMF have emphasized the urgency of mobilizing climate finance for Africa during a round table on the African Economic Outlook 2022 of the African Development Bank https bit ly 2Z1dRwt hosted by the IMF in Washington DC on Monday Meeting participants heard that African countries must mobilize 1 6 trillion between 2022 and 2030 to meet their Nationally Determined Contributions to fight climate change So far they have only received 18 3 billion annually leaving a funding gap of 108 billion annually On current trends Africa s NDCs will not be achieved Africa has huge comparative advantages to lead the world in this new green transition but lacks the capital to do so Kevin Urama Acting Chief Economist and Vice President of the African Development Bank said in his presentation The panel was made up of Prof Urama the Deputy Director of the IMF Fiscal Affairs Department and Climate Change Policy Coordinator James Roaf and Anthony Simpasa Acting Manager of the IMF s Macroeconomic Policy Debt Sustainability and Forecasting Division African Development Bank It was moderated by Cathy Pattillo Deputy Director of the IMF s African Department Urama emphasized that the findings of the 2022 African Economic Outlook show that the structure of climate finance is very complicated and creates a misallocation of resources As a result the main goal of climate finance to support climate vulnerable countries is not being achieved A fundamental existential problem for Africa is climate change The countries that are receiving climate financing are the least vulnerable said Urama Abebe Selassie Director of the IMF s Africa Department noted that African policymakers face the unenviable task of investing trillions of dollars in the major energy transition the region needs to advance its development Selassie said At the same time they are being asked to think about the adverse effect this may have on climate change but advanced countries that have benefited from climate unfriendly policies are unwilling to support development in the region This is an issue that policymakers bring to us when we engage with them on the financial challenges they face Selassie described the findings of the 2022 African Economic Outlook as sobering noting that it raised some deep issues The IMF s Deputy Director of the Fiscal Affairs Department and Climate Change Policy Coordinator James Roaf identified adaptation as the biggest problem for Africa Roaf said The African Economic Outlook rightly emphasizes the need to integrate climate goals into broader sustainable development pathways We need to focus on making the most of the opportunities offered by the clean energy transition so that climate adaptation and mitigation policies go hand in hand with growing prosperity Furthermore he drew attention to what countries can do on their own to maximize climate finance and make the most of it Mobilizing the private sector is essential with policies such as carbon pricing to encourage investment in renewable energy or improving adaptation incentives by reinforcing property rights or strengthening regional trade In closing Urama emphasized the need for a different approach to solving the climate challenge in Africa What I see are opportunities to do things differently so that we re not using an old map to chart a new world This will include compensation he said How do we work together as a global community to solve this global commons challenge for ourselves our children and future generations The 2022 African Economic Outlook https bit ly 2Z1dRwt theme Supporting Climate Resilience and a Just Energy Transition in Africa highlights climate change as a growing threat to lives and livelihoods in Africa Click here https bit ly 3BkWdGH to watch a recording of the panel discussion Click here https bit ly 3z8tAdj to see the photos
    African Economic Outlook 2022: Experts from the African Development Bank and the International Monetary Fund underline the urgency of climate finance for Africa
    Africa4 months ago

    African Economic Outlook 2022: Experts from the African Development Bank and the International Monetary Fund underline the urgency of climate finance for Africa

    Experts from the African Development Bank (www.AfDB.org) and the International Monetary Fund (IMF) have emphasized the urgency of mobilizing climate finance for Africa during a round table on the African Economic Outlook 2022 of the African Development Bank (https: //bit.ly/ 2Z1dRwt) hosted by the IMF in Washington, DC on Monday.

    Meeting participants heard that African countries must mobilize $1.6 trillion between 2022 and 2030 to meet their Nationally Determined Contributions to fight climate change.

    So far, they have only received $18.3 billion annually, leaving a funding gap of $108 billion annually.

    On current trends, Africa's NDCs will not be achieved.

    Africa has huge comparative advantages to lead the world in this new green transition, but lacks the capital to do so, Kevin Urama, Acting Chief Economist and Vice President of the African Development Bank, said in his presentation.

    The panel was made up of Prof. Urama, the Deputy Director of the IMF Fiscal Affairs Department and Climate Change Policy Coordinator, James Roaf, and Anthony Simpasa, Acting Manager of the IMF's Macroeconomic Policy, Debt Sustainability and Forecasting Division.

    African Development Bank. It was moderated by Cathy Pattillo, Deputy Director of the IMF's African Department.

    Urama emphasized that the findings of the 2022 African Economic Outlook show that the structure of climate finance is very complicated and creates a misallocation of resources.

    As a result, the main goal of climate finance, to support climate-vulnerable countries, is not being achieved.

    “A fundamental existential problem for Africa is climate change.

    The countries that are receiving climate financing are the least vulnerable,” said Urama.

    Abebe Selassie, Director of the IMF's Africa Department, noted that African policymakers face the unenviable task of investing trillions of dollars in the major energy transition the region needs to advance its development.

    Selassie said: “At the same time, they are being asked to think about the adverse effect this may have on climate change, but advanced countries that have benefited from climate-unfriendly policies are unwilling to support development in the region.

    This is an issue that policymakers bring to us when we engage with them on the financial challenges they face.” Selassie described the findings of the 2022 African Economic Outlook as "sobering", noting that it "raised some deep issues".

    The IMF's Deputy Director of the Fiscal Affairs Department and Climate Change Policy Coordinator, James Roaf, identified adaptation as the biggest problem for Africa.

    Roaf said: “The African Economic Outlook rightly emphasizes the need to integrate climate goals into broader sustainable development pathways.

    We need to focus on making the most of the opportunities offered by the clean energy transition so that climate adaptation and mitigation policies go hand in hand with growing prosperity.” Furthermore, he drew attention to what countries can do on their own to maximize climate finance and make the most of it.

    “Mobilizing the private sector is essential, with policies such as carbon pricing to encourage investment in renewable energy, or improving adaptation incentives by reinforcing property rights or strengthening regional trade.” In closing, Urama emphasized the need for a different approach to solving the climate challenge in Africa.

    “What I see are opportunities to do things differently so that we're not using an old map to chart a new world.

    This will include compensation,” he said.

    How do we work together as a global community to solve this global commons challenge for ourselves, our children and future generations?

    The 2022 African Economic Outlook (https://bit.ly/2Z1dRwt) theme, Supporting Climate Resilience and a Just Energy Transition in Africa, highlights climate change as a growing threat to lives and livelihoods in Africa.

    Click here (https://bit.ly/3BkWdGH) to watch a recording of the panel discussion.

    Click here (https://bit.ly/3z8tAdj) to see the photos.

  •  The Commandant National Defence College NDC Rear Adm Murtala Bashir says the college has graduated no fewer than 2 549 participants from within and outside Nigeria in its 30 years of existence Bashir stated this while briefing newsmen on the college 30th Anniversary and Graduation of Course 30 Participants of NDC on Monday in Abuja He who was represented by the Deputy Commandant and Director of Studies NDC Maj Gen Emeka Anumajuru He said that 216 of the participants were drawn from strategic ministries departments and agencies MDAs 92 from Nigerian Police and 254 international participants from allied nations According to him among the participants were people who had reached the pinnacle of their career in the various services and MDAs The commandant said the college deemed it necessary to mark its 30th anniversary having been able to record landmark success stories especially in the remit of its mandate According to him the college has the mandate to train selected senior military officers their counterparts from strategic MDAs and the police to be able to operate at the strategic level within and outside the country We insist our participants understand how to use the entire gamut of elements of national power to be able to achieve strategic objectives That in a nutshell is the mandate of the college and that is what we strive to achieve since 1992 that the college was established To date we have graduated over 2 589 participants Within these participants are international participants about 254 of them from various countries of the world and also been able to graduate 216 participants from strategic MDAs and about 92 from the Nigerian police force he said Bashir said that NDC was a key arm of National Defence Diplomacy because of its level of interaction between the college and members of the armed forces from foreign countries He said the college could pride itself in advancing the nation s defence diplomacy and ultimately the national foreign policy of Nigeria According to him the college too is a centre of excellence in the conduct of peace support operations as a strategic level He added that NDC is a key partner in AU and ECOWAS in advancing peace support operations particularly as regards the theoretical components that advance the missions at the strategic level The commandant also said that NDC could pride itself in corporate social responsibility in its host communities such as Ushafa in terms of provision of infrastructures medical outreach schools and even scholarship He said that series of programmes had been lined up for the 30th anniversary such as sports humanitarian activities and award night as well as graduation lecture and graduation course 30 participants According to him so many of the participants have been service chiefs in their armed forces This year will be honouring two of them who are current service chiefs from Burkina Faso and Uganda So when you graduate participants who rise to the position of service chiefs in their respective countries of course you have a link to those countries because we will monitor their progresses and they remain part of us NewsSourceCredit NAN
    National Defence College graduates 2,549 participants in 30 years – Commandant
     The Commandant National Defence College NDC Rear Adm Murtala Bashir says the college has graduated no fewer than 2 549 participants from within and outside Nigeria in its 30 years of existence Bashir stated this while briefing newsmen on the college 30th Anniversary and Graduation of Course 30 Participants of NDC on Monday in Abuja He who was represented by the Deputy Commandant and Director of Studies NDC Maj Gen Emeka Anumajuru He said that 216 of the participants were drawn from strategic ministries departments and agencies MDAs 92 from Nigerian Police and 254 international participants from allied nations According to him among the participants were people who had reached the pinnacle of their career in the various services and MDAs The commandant said the college deemed it necessary to mark its 30th anniversary having been able to record landmark success stories especially in the remit of its mandate According to him the college has the mandate to train selected senior military officers their counterparts from strategic MDAs and the police to be able to operate at the strategic level within and outside the country We insist our participants understand how to use the entire gamut of elements of national power to be able to achieve strategic objectives That in a nutshell is the mandate of the college and that is what we strive to achieve since 1992 that the college was established To date we have graduated over 2 589 participants Within these participants are international participants about 254 of them from various countries of the world and also been able to graduate 216 participants from strategic MDAs and about 92 from the Nigerian police force he said Bashir said that NDC was a key arm of National Defence Diplomacy because of its level of interaction between the college and members of the armed forces from foreign countries He said the college could pride itself in advancing the nation s defence diplomacy and ultimately the national foreign policy of Nigeria According to him the college too is a centre of excellence in the conduct of peace support operations as a strategic level He added that NDC is a key partner in AU and ECOWAS in advancing peace support operations particularly as regards the theoretical components that advance the missions at the strategic level The commandant also said that NDC could pride itself in corporate social responsibility in its host communities such as Ushafa in terms of provision of infrastructures medical outreach schools and even scholarship He said that series of programmes had been lined up for the 30th anniversary such as sports humanitarian activities and award night as well as graduation lecture and graduation course 30 participants According to him so many of the participants have been service chiefs in their armed forces This year will be honouring two of them who are current service chiefs from Burkina Faso and Uganda So when you graduate participants who rise to the position of service chiefs in their respective countries of course you have a link to those countries because we will monitor their progresses and they remain part of us NewsSourceCredit NAN
    National Defence College graduates 2,549 participants in 30 years – Commandant
    Defence/Security4 months ago

    National Defence College graduates 2,549 participants in 30 years – Commandant

    The Commandant, National Defence College (NDC), Rear Adm. Murtala Bashir, says the college has graduated no fewer than 2,549 participants from within and outside Nigeria in its 30 years of existence.

      Bashir stated this while briefing newsmen on the college 30th Anniversary and Graduation of Course 30 Participants of NDC on Monday in Abuja.

      He who was represented by the Deputy Commandant and Director of Studies, NDC, Maj.-Gen. Emeka Anumajuru.

      He said that 216 of the participants were drawn from strategic ministries, departments and agencies (MDAs); 92 from Nigerian Police and 254 international participants from allied nations.

      According to him, among the participants were people who had reached the pinnacle of their career in the various services and MDAs.   The commandant said the college deemed it necessary to mark its 30th anniversary having been able to record landmark success stories especially in the remit of its mandate.

      According to him, the college has the mandate to train selected senior military officers, their counterparts from strategic MDAs and the police to be able to operate at the strategic level within and outside the country.

      “We insist our participants understand how to use the entire gamut of elements of national power to be able to achieve strategic objectives.

      “That, in a nutshell, is the mandate of the college and that is what we strive to achieve since 1992 that the college was established.

      “To date, we have graduated over 2,589 participants.

      “Within these participants are international participants, about 254 of them from various countries of the world and also been able to graduate 216 participants from strategic MDAs and about 92 from the Nigerian police force,’’ he said.

      Bashir said that NDC was a key arm of National Defence Diplomacy because of its level of interaction between the college and members of the armed forces from foreign countries.

      He said the college could pride itself in advancing the nation’s defence diplomacy and ultimately the national foreign policy of Nigeria.

      According to him, the college, too, is a centre of excellence in the conduct of peace support operations as a strategic level.

      He added that NDC is a key partner in AU and ECOWAS in advancing peace support operations, particularly as regards the theoretical components that advance the missions at the strategic level.

      The commandant also said that NDC could pride itself in corporate social responsibility in its host communities such as Ushafa in terms of provision of infrastructures, medical outreach, schools and even scholarship.

      He said that series of programmes had been lined up for the 30th anniversary such as sports, humanitarian activities and award night as well as graduation lecture and graduation course 30 participants.

      According to him, so many of the participants have been service chiefs in their armed forces.

      “This year will be honouring two of them who are current service chiefs from Burkina Faso and Uganda.

      “So when you graduate participants who rise to the position of service chiefs in their respective countries, of course you have a link to those countries because we will monitor their progresses and they remain part of us.

    (

    NewsSourceCredit: NAN

  •  Ghanaian trader Mohammed Biney was already struggling when the government passed a new tax on electronic money transactions this year to try to revive the economy With Ghana now bowing to nearly 30 percent inflation the Accra shoe seller was surprised when the government announced in July that it would have to seek help from the IMF President Nana Akufo Addo once promised Ghana beyond aid to keep his West African country out of foreign aid dependency But a sudden U turn on an IMF loan has sparked a fierce debate over his economic management as Ghana grapples with the highest costs of living in two decades You can t tax us on the pretext of saving the economy and then come overnight and tell us you re going to the IMF trader Biney told AFP I think they ran out of ideas Hit by the global pandemic and the fallout from the Russian war in Ukraine on fuel and food prices Ghana is in talks with the International Monetary Fund to help stabilize its public finances But the decision raised fears that IMF imposed austerity measures will force the end of Akufo Addo s social programs and hurt Ghanaians already struggling with skyrocketing costs A new opposition led protest movement and unions threatening strikes over hardship have increased pressure on the government just as an IMF team begins initial talks Saddled with heavy debt limited access to new funds and few revenue options the government says the IMF offers short term help Ghana s Deputy Finance Minister Abena Osei Asare said after the pandemic eroded economic gains the IMF deal would help with the balance of payments and open the door to new financing while protecting social programs People don t understand the kind of commitment we re going to have with the IMF so they re a bit apprehensive he told AFP Inflation rising Ghana s economic data is not encouraging Growth slowed this year while inflation broke two decade highs at 29 8 percent in June fueled by transportation and food costs Ghana s debt to GDP ratio a measure of what it owes versus what it produces rose from 65 to 80 during the pandemic the IMF says Credit agency Moody s downgraded its outlook on Ghana s bonds in February citing the government s debt and liquidity challenges Ghana s fiscal and debt vulnerabilities are rapidly worsening amid an increasingly difficult external environment the IMF said after the team s visit this month An IMF backed program aims to provide space for Ghana to implement policies This deal will be the 18th time Ghana has gone to the IMF after completing a three year deal in 2019 that saw 918 million in support As recently as May Finance Minister Ken Ofori Atta said an IMF deal was not an option with the government preferring homegrown solutions One of them Ghana s new electronic transaction tax or E levy was meant to help raise 900 million in much needed revenue alongside spending cuts But the tax was widely criticized and as people restricted electronic payments the E levy also fell well short of revenue estimates Gabby Otchere Darko a leading member of the ruling party tweeted in June that the tax had generated only 10 percent of estimated revenue Given the situation we find ourselves in we don t have a choice John Kwakye director of research at the Accra based IEA think tank said of the IMF deal Going to the IMF was to build on our credibility Electoral consequences But even with elections still two years away a deal with the IMF is likely to have political consequences Teacher unions went on strike earlier this month until the government agreed to cost of living subsidies Other public sector workers are threatening to take action The Fix the Country movement which holds regular but small protests has been joined by another group Stand Up Ghana Last month his demonstration over economic difficulties led to clashes with the police The solution to Ghana s problems is not in Washington said Yaw Baah general secretary of the Trades Union Congress TUC This is a tragic government mistake Eurasia Group Africa chief Amaka Anku told clients the IMF program will make it harder for Akufo Addo s New Patriotic Party to argue that they are better economic managers That may weaken the position of the likely NPP candidate for 2024 vice president Mahamudu Bawumia though his likely opponent the Democratic National Congress or NDC leader and former chairman John Mahama also faces challenges In short this makes for a very close election in 2024 Anku said The opposition has already struck President Akufo Addo and Dr Mahamudu Bawumia should take full responsibility for the incompetent management of the economy said NDC lawmaker Haruna Iddrisu The government needs to come clean and tell us what the people of Ghana should expect instead of blaming Ukraine and Russia
    Ghana IMF loan protests put pressure on government over economy
     Ghanaian trader Mohammed Biney was already struggling when the government passed a new tax on electronic money transactions this year to try to revive the economy With Ghana now bowing to nearly 30 percent inflation the Accra shoe seller was surprised when the government announced in July that it would have to seek help from the IMF President Nana Akufo Addo once promised Ghana beyond aid to keep his West African country out of foreign aid dependency But a sudden U turn on an IMF loan has sparked a fierce debate over his economic management as Ghana grapples with the highest costs of living in two decades You can t tax us on the pretext of saving the economy and then come overnight and tell us you re going to the IMF trader Biney told AFP I think they ran out of ideas Hit by the global pandemic and the fallout from the Russian war in Ukraine on fuel and food prices Ghana is in talks with the International Monetary Fund to help stabilize its public finances But the decision raised fears that IMF imposed austerity measures will force the end of Akufo Addo s social programs and hurt Ghanaians already struggling with skyrocketing costs A new opposition led protest movement and unions threatening strikes over hardship have increased pressure on the government just as an IMF team begins initial talks Saddled with heavy debt limited access to new funds and few revenue options the government says the IMF offers short term help Ghana s Deputy Finance Minister Abena Osei Asare said after the pandemic eroded economic gains the IMF deal would help with the balance of payments and open the door to new financing while protecting social programs People don t understand the kind of commitment we re going to have with the IMF so they re a bit apprehensive he told AFP Inflation rising Ghana s economic data is not encouraging Growth slowed this year while inflation broke two decade highs at 29 8 percent in June fueled by transportation and food costs Ghana s debt to GDP ratio a measure of what it owes versus what it produces rose from 65 to 80 during the pandemic the IMF says Credit agency Moody s downgraded its outlook on Ghana s bonds in February citing the government s debt and liquidity challenges Ghana s fiscal and debt vulnerabilities are rapidly worsening amid an increasingly difficult external environment the IMF said after the team s visit this month An IMF backed program aims to provide space for Ghana to implement policies This deal will be the 18th time Ghana has gone to the IMF after completing a three year deal in 2019 that saw 918 million in support As recently as May Finance Minister Ken Ofori Atta said an IMF deal was not an option with the government preferring homegrown solutions One of them Ghana s new electronic transaction tax or E levy was meant to help raise 900 million in much needed revenue alongside spending cuts But the tax was widely criticized and as people restricted electronic payments the E levy also fell well short of revenue estimates Gabby Otchere Darko a leading member of the ruling party tweeted in June that the tax had generated only 10 percent of estimated revenue Given the situation we find ourselves in we don t have a choice John Kwakye director of research at the Accra based IEA think tank said of the IMF deal Going to the IMF was to build on our credibility Electoral consequences But even with elections still two years away a deal with the IMF is likely to have political consequences Teacher unions went on strike earlier this month until the government agreed to cost of living subsidies Other public sector workers are threatening to take action The Fix the Country movement which holds regular but small protests has been joined by another group Stand Up Ghana Last month his demonstration over economic difficulties led to clashes with the police The solution to Ghana s problems is not in Washington said Yaw Baah general secretary of the Trades Union Congress TUC This is a tragic government mistake Eurasia Group Africa chief Amaka Anku told clients the IMF program will make it harder for Akufo Addo s New Patriotic Party to argue that they are better economic managers That may weaken the position of the likely NPP candidate for 2024 vice president Mahamudu Bawumia though his likely opponent the Democratic National Congress or NDC leader and former chairman John Mahama also faces challenges In short this makes for a very close election in 2024 Anku said The opposition has already struck President Akufo Addo and Dr Mahamudu Bawumia should take full responsibility for the incompetent management of the economy said NDC lawmaker Haruna Iddrisu The government needs to come clean and tell us what the people of Ghana should expect instead of blaming Ukraine and Russia
    Ghana IMF loan protests put pressure on government over economy
    Foreign5 months ago

    Ghana IMF loan protests put pressure on government over economy

    Ghanaian trader Mohammed Biney was already struggling when the government passed a new tax on electronic money transactions this year to try to revive the economy.

    With Ghana now bowing to nearly 30 percent inflation, the Accra shoe seller was surprised when the government announced in July that it would have to seek help from the IMF.

    President Nana Akufo-Addo once promised "Ghana beyond aid" to keep his West African country out of foreign aid dependency.

    But a sudden U-turn on an IMF loan has sparked a fierce debate over his economic management as Ghana grapples with the highest costs of living in two decades.

    "You can't tax us on the pretext of saving the economy and then come overnight and tell us you're going to the IMF," trader Biney told AFP.

    "I think they ran out of ideas."

    Hit by the global pandemic and the fallout from the Russian war in Ukraine on fuel and food prices, Ghana is in talks with the International Monetary Fund to help stabilize its public finances.

    But the decision raised fears that IMF-imposed austerity measures will force the end of Akufo-Addo's social programs and hurt Ghanaians already struggling with skyrocketing costs.

    A new opposition-led protest movement and unions threatening strikes over hardship have increased pressure on the government just as an IMF team begins initial talks.

    Saddled with heavy debt, limited access to new funds and few revenue options, the government says the IMF offers short-term help.

    Ghana's Deputy Finance Minister Abena Osei-Asare said after the pandemic eroded economic gains, the IMF deal would help with the balance of payments and open the door to new financing while protecting social programs.

    "People don't understand the kind of commitment we're going to have with the IMF, so they're a bit apprehensive," he told AFP.

    Inflation rising Ghana's economic data is not encouraging. Growth slowed this year, while inflation broke two-decade highs at 29.8 percent in June, fueled by transportation and food costs.

    Ghana's debt-to-GDP ratio, a measure of what it owes versus what it produces, rose from 65% to 80% during the pandemic, the IMF says.

    Credit agency Moody's downgraded its outlook on Ghana's bonds in February, citing the government's debt and liquidity challenges.

    "Ghana's fiscal and debt vulnerabilities are rapidly worsening amid an increasingly difficult external environment," the IMF said after the team's visit this month.

    "An IMF-backed program aims to provide space for Ghana to implement policies."

    This deal will be the 18th time Ghana has gone to the IMF after completing a three-year deal in 2019 that saw $918 million in support.

    As recently as May, Finance Minister Ken Ofori-Atta said an IMF deal was not an option, with the government preferring "homegrown" solutions.

    One of them, Ghana's new electronic transaction tax or E-levy, was meant to help raise $900 million in much-needed revenue alongside spending cuts.

    But the tax was widely criticized and, as people restricted electronic payments, the E-levy also fell well short of revenue estimates.

    Gabby Otchere-Darko, a leading member of the ruling party, tweeted in June that the tax had generated only 10 percent of estimated revenue.

    "Given the situation we find ourselves in ... we don't have a choice," John Kwakye, director of research at the Accra-based IEA think tank, said of the IMF deal.

    "Going to the IMF was to build on our credibility."

    Electoral consequences? But even with elections still two years away, a deal with the IMF is likely to have political consequences.

    Teacher unions went on strike earlier this month until the government agreed to cost-of-living subsidies. Other public sector workers are threatening to take action.

    The “Fix the Country” movement, which holds regular but small protests, has been joined by another group, “Stand Up Ghana”. Last month, his demonstration over economic difficulties led to clashes with the police.

    "The solution to Ghana's problems is not in Washington," said Yaw Baah, general secretary of the Trades Union Congress (TUC). "This is a tragic government mistake."

    Eurasia Group Africa chief Amaka Anku told clients the IMF program will make it harder for Akufo-Addo's New Patriotic Party to argue that they are better economic managers.

    That may weaken the position of the likely NPP candidate for 2024 vice president, Mahamudu Bawumia, though his likely opponent, the Democratic National Congress or NDC leader and former chairman John Mahama, also faces challenges.

    "In short, this makes for a very close election in 2024," Anku said.

    The opposition has already struck.

    “President Akufo-Addo and Dr. Mahamudu Bawumia should take full responsibility for the incompetent management of the economy,” said NDC lawmaker Haruna Iddrisu.

    "The government needs to come clean and tell us what the people of Ghana should expect instead of blaming Ukraine and Russia."

  •   Climate change and Nigeria s updated Nationally Determined Contribution By Kayode Adebiyi News Agency of Nigeria Nigeria recently updated its Nationally Determined Contribution NDC to the United Nations Framework Convention on Climate Change A statement from the Presidency said President Muhammadu Buhari revealed the update of county s NDC at a virtual meeting hosted by U S President Joe Biden The NDC is a country by country climate change action plan commitment to cutting greenhouse gas GHG emissions and adapting to climate impacts within the Paris Agreement According to the UN Climate Action each party to the Paris Agreement is required to establish an NDC and update it every five years Furthermore at the 2021 UN Climate Change Conference COP26 in Glasgow Scotland an agreement was reached for all countries to revisit and reinforce their NDC targets in 2022 Each new round of updates is expected to ratchet up ambition through steeper emissions cuts and more expansive adaptation measures a statement by UN Climate Action read Nigeria had submitted an interim NDC to the UN in May 2021 and this updated version in compliance with the Glasgow Climate Pact reached at COP26 shows the country s commitment to reducing GHG emissions Under the updated NDC Nigeria intends to eliminate the use of kerosene lighting by 2030 increase the use of buses for public transport and reduce the burning of crop residues by 50 per cent Our updated NDC includes the waste sector which is expected to contribute to the reduction of Nigeria s Greenhouse Gas emissions This development raised an additional two per cent to the Nationally Determined Contribution from 45 per cent to 47 per cent conditionally and 20 per cent unconditionally below business as usual Other action plans that are inherent in our NDC include elimination of kerosene lighting by 2030 increase in the use of bus rapid transit as a means of transportation for the public 50 per cent reduction in the fraction of crop residues burnt by 2030 and implementation of forest programmes it said The updated NDC also aims at improving air quality and reducing GHG emissions through specific mitigation measures in eight source sectors The sectors are transportation cooking and lighting in households industry waste oil and gas agriculture power and Hydrofluorocarbon The prompt update of Nigeria s NDC shows its global commitment towards embracing sustainable measures which limit the rate of global warming and other negative impacts of climate change Already the country s Department of Climate Change has developed and finalised a Sectoral Action Plan SAP for the implementation of the updated NDC in priority sectors However the ambitious and audacious provisions of its updated NDC should be cautiously balanced against its socio economic realities and reciprocal commitments from developed countries Huge research gaps could have resulted in insufficient understanding of Africa s exact contribution to GHG emissions Nevertheless experts have put that number at around 3 per cent of total global GHG emissions Also unlike in developed economies the largest part of Africa s GHG emissions comes from Agriculture Forestry and Other Land Use AFOLU Sadly as low as its collective contribution is to GHG emissions Africa is the most vulnerable continent to climate change impacts under all climate scenarios above 1 5 degrees Celsius Since the Paris Agreement provides adequate framework for financial technical and capacity building support for countries in need Nigeria s commitment to climate change should be based on how much assistance it secures in those areas Experts have warned that individual countries NDC will only achieve little if efforts to reduce global warming by wealthy polluting countries are not focused on African countries which are the least polluters The Glasgow Climate Pact has revealed that developed countries have not matched words with actions when it comes to assisting vulnerable countries Paragraph 44 of the Pact noted with deep regret that developed countries failed in their promise to jointly mobilise 100 billion U S dollars per year by 2020 for mitigation actions It also said transparency in the implementation of finance technology and capacity building for mitigation and adaptation had not been met by wealthy countries The pact calls upon developed country parties to provide greater clarity on their pledges and urged them to deliver on their pledges It also emphasised transparency in the implementation of wealthy and heavy polluting countries pledges Nigeria and Africa at large has already been disproportionately vulnerable to the effects of climate change as a result of poor access to financial resources know how and capacity to respond to climate change effects Why then should it be more committed to the Paris Agreement s NDC than wealthy countries who account for the bulk of global GHG emissions For perspective while Africa contributes a mere 3 per cent to global GHG emissions the US and China combined are responsible for close to 40 per cent China the U S Japan Germany and South Korea are all in the top 10 of the list of heaviest polluters and are all deploying finance technology and capacity building to achieve zero carbon solutions Unfortunately they seem to be leaving developing countries behind Eliminating the use of kerosene lighting by 2030 for instance as stipulated by Nigeria s updated NDC is desirable After all a recent report suggested that the use of kerosene and firewood exposes 30 million Nigerian households to severe health hazards Yet firewood charcoal and kerosene remain the most used means of domestic cooking in Nigeria With the price of cooking gas out of the reach of the vast majority of Nigerian households what alternatives are available for Nigerians when that provision of the NDC becomes effective To make households convert to Liquefied Natural Gas LNG the product will have to be heavily subsidised and made readily available This is one reason among many others why the world should address the issue of climate change as a multilateral crisis which requires international cooperation Therefore to strengthen climate action wealthy countries should consider the growth and development of vulnerable countries by paying their fair share rather than making endless demands NANFeatures If used please credit the author as well as News Agency of Nigeria NewsSourceCredit NAN
    Climate change and Nigeria’s updated Nationally Determined Contribution
      Climate change and Nigeria s updated Nationally Determined Contribution By Kayode Adebiyi News Agency of Nigeria Nigeria recently updated its Nationally Determined Contribution NDC to the United Nations Framework Convention on Climate Change A statement from the Presidency said President Muhammadu Buhari revealed the update of county s NDC at a virtual meeting hosted by U S President Joe Biden The NDC is a country by country climate change action plan commitment to cutting greenhouse gas GHG emissions and adapting to climate impacts within the Paris Agreement According to the UN Climate Action each party to the Paris Agreement is required to establish an NDC and update it every five years Furthermore at the 2021 UN Climate Change Conference COP26 in Glasgow Scotland an agreement was reached for all countries to revisit and reinforce their NDC targets in 2022 Each new round of updates is expected to ratchet up ambition through steeper emissions cuts and more expansive adaptation measures a statement by UN Climate Action read Nigeria had submitted an interim NDC to the UN in May 2021 and this updated version in compliance with the Glasgow Climate Pact reached at COP26 shows the country s commitment to reducing GHG emissions Under the updated NDC Nigeria intends to eliminate the use of kerosene lighting by 2030 increase the use of buses for public transport and reduce the burning of crop residues by 50 per cent Our updated NDC includes the waste sector which is expected to contribute to the reduction of Nigeria s Greenhouse Gas emissions This development raised an additional two per cent to the Nationally Determined Contribution from 45 per cent to 47 per cent conditionally and 20 per cent unconditionally below business as usual Other action plans that are inherent in our NDC include elimination of kerosene lighting by 2030 increase in the use of bus rapid transit as a means of transportation for the public 50 per cent reduction in the fraction of crop residues burnt by 2030 and implementation of forest programmes it said The updated NDC also aims at improving air quality and reducing GHG emissions through specific mitigation measures in eight source sectors The sectors are transportation cooking and lighting in households industry waste oil and gas agriculture power and Hydrofluorocarbon The prompt update of Nigeria s NDC shows its global commitment towards embracing sustainable measures which limit the rate of global warming and other negative impacts of climate change Already the country s Department of Climate Change has developed and finalised a Sectoral Action Plan SAP for the implementation of the updated NDC in priority sectors However the ambitious and audacious provisions of its updated NDC should be cautiously balanced against its socio economic realities and reciprocal commitments from developed countries Huge research gaps could have resulted in insufficient understanding of Africa s exact contribution to GHG emissions Nevertheless experts have put that number at around 3 per cent of total global GHG emissions Also unlike in developed economies the largest part of Africa s GHG emissions comes from Agriculture Forestry and Other Land Use AFOLU Sadly as low as its collective contribution is to GHG emissions Africa is the most vulnerable continent to climate change impacts under all climate scenarios above 1 5 degrees Celsius Since the Paris Agreement provides adequate framework for financial technical and capacity building support for countries in need Nigeria s commitment to climate change should be based on how much assistance it secures in those areas Experts have warned that individual countries NDC will only achieve little if efforts to reduce global warming by wealthy polluting countries are not focused on African countries which are the least polluters The Glasgow Climate Pact has revealed that developed countries have not matched words with actions when it comes to assisting vulnerable countries Paragraph 44 of the Pact noted with deep regret that developed countries failed in their promise to jointly mobilise 100 billion U S dollars per year by 2020 for mitigation actions It also said transparency in the implementation of finance technology and capacity building for mitigation and adaptation had not been met by wealthy countries The pact calls upon developed country parties to provide greater clarity on their pledges and urged them to deliver on their pledges It also emphasised transparency in the implementation of wealthy and heavy polluting countries pledges Nigeria and Africa at large has already been disproportionately vulnerable to the effects of climate change as a result of poor access to financial resources know how and capacity to respond to climate change effects Why then should it be more committed to the Paris Agreement s NDC than wealthy countries who account for the bulk of global GHG emissions For perspective while Africa contributes a mere 3 per cent to global GHG emissions the US and China combined are responsible for close to 40 per cent China the U S Japan Germany and South Korea are all in the top 10 of the list of heaviest polluters and are all deploying finance technology and capacity building to achieve zero carbon solutions Unfortunately they seem to be leaving developing countries behind Eliminating the use of kerosene lighting by 2030 for instance as stipulated by Nigeria s updated NDC is desirable After all a recent report suggested that the use of kerosene and firewood exposes 30 million Nigerian households to severe health hazards Yet firewood charcoal and kerosene remain the most used means of domestic cooking in Nigeria With the price of cooking gas out of the reach of the vast majority of Nigerian households what alternatives are available for Nigerians when that provision of the NDC becomes effective To make households convert to Liquefied Natural Gas LNG the product will have to be heavily subsidised and made readily available This is one reason among many others why the world should address the issue of climate change as a multilateral crisis which requires international cooperation Therefore to strengthen climate action wealthy countries should consider the growth and development of vulnerable countries by paying their fair share rather than making endless demands NANFeatures If used please credit the author as well as News Agency of Nigeria NewsSourceCredit NAN
    Climate change and Nigeria’s updated Nationally Determined Contribution
    Features5 months ago

    Climate change and Nigeria’s updated Nationally Determined Contribution

    Climate change and Nigeria’s updated Nationally Determined Contribution

     

     

    By Kayode Adebiyi, News Agency of Nigeria

    Nigeria recently updated its Nationally Determined Contribution (NDC) to the United Nations Framework Convention on Climate Change.

    A statement from the Presidency said President Muhammadu Buhari revealed the update of county’s NDC at a virtual meeting hosted by U.S. President Joe Biden.

    The NDC is a country-by-country climate change action plan commitment to cutting greenhouse gas (GHG) emissions and adapting to climate impacts within the Paris Agreement.

    According to the UN Climate Action, each party to the Paris Agreement is required to establish an NDC and update it every five years.

    Furthermore, at the 2021 UN Climate Change Conference (COP26) in Glasgow, Scotland, an agreement was reached for all countries to revisit and reinforce their NDC targets in 2022.

    “Each new round of updates is expected to ratchet up ambition through steeper emissions cuts and more expansive adaptation measures,” a statement by UN Climate Action read.

    Nigeria had submitted an interim NDC to the UN in May 2021 and this updated version, in compliance with the Glasgow Climate Pact reached at COP26, shows the country’s commitment to reducing GHG emissions.

    Under the updated NDC, Nigeria intends to eliminate the use of kerosene lighting by 2030, increase the use of buses for public transport and reduce the burning of crop residues by 50 per cent.

    “Our updated NDC includes the waste sector, which is expected to contribute to the reduction of Nigeria’s Greenhouse Gas emissions.

    “This development raised an additional two per cent to the Nationally Determined Contribution from 45 per cent to 47 per cent conditionally and 20 per cent unconditionally below business-as-usual.

    “Other action plans that are inherent in our NDC include: elimination of kerosene lighting by 2030, increase in the use of bus rapid transit as a means of transportation for the public, 50 per cent reduction in the fraction of crop residues burnt by 2030 and implementation of forest programmes,” it said.

    The updated NDC also aims at improving air quality and reducing GHG emissions through specific mitigation measures in eight source sectors.

    The sectors are: transportation, cooking and lighting in households, industry, waste, oil and gas, agriculture, power and Hydrofluorocarbon.

    The prompt update of Nigeria’s NDC shows its global commitment towards embracing sustainable measures which limit the rate of global warming and other negative impacts of climate change.

    Already, the country’s Department of Climate Change has developed and finalised a Sectoral Action Plan (SAP) for the implementation of the updated NDC in priority sectors.

    However, the ambitious and audacious provisions of its updated NDC should be cautiously balanced against its socio-economic realities and reciprocal commitments from developed countries.

    Huge research gaps could have resulted in insufficient understanding of Africa’s exact contribution to GHG emissions. Nevertheless, experts have put that number at around 3 per cent of total global GHG emissions.

    Also, unlike in developed economies, the largest part of Africa’s GHG emissions comes from Agriculture, Forestry and Other Land Use (AFOLU).

    Sadly, as low as its collective contribution is to GHG emissions, Africa is the most vulnerable continent to climate change impacts under all climate scenarios above 1.5 degrees Celsius.

    Since the Paris Agreement provides adequate framework for financial, technical and capacity building support for countries in need, Nigeria’s commitment to climate change should be based on how much assistance it secures in those areas.

    Experts have warned that individual countries’ NDC will only achieve little if efforts to reduce global warming by wealthy polluting countries are not focused on African countries, which are the least polluters.

    The Glasgow Climate Pact has revealed that developed countries have not matched words with actions when it comes to assisting vulnerable countries.

    Paragraph 44 of the Pact noted with “deep regret” that developed countries failed in their promise to jointly mobilise 100 billion U.S dollars per year by 2020 for mitigation actions.

    It also said transparency in the implementation of finance, technology and capacity-building for mitigation and adaptation had not been met by wealthy countries.

    The pact “calls upon developed country parties to provide greater clarity on their pledges” and urged them to deliver on their pledges.

    It also emphasised transparency in the implementation of wealthy and heavy polluting countries’ pledges.

    Nigeria (and Africa at large) has already been disproportionately vulnerable to the effects of climate change as a result of poor access to financial resources, know-how and capacity to respond to climate change effects.

    Why then should it be more committed to the Paris Agreement’s NDC than wealthy countries who account for the bulk of global GHG emissions?

    For perspective, while Africa contributes a mere 3 per cent to global GHG emissions, the US and China combined are responsible for close to 40 per cent.

    China, the U.S., Japan, Germany and South Korea are all in the top 10 of the list of heaviest polluters and are all deploying finance, technology and capacity building to achieve zero-carbon solutions.

    Unfortunately, they seem to be leaving developing countries behind.

    Eliminating the use of kerosene lighting by 2030, for instance, as stipulated by Nigeria’s updated NDC is desirable.

    After all, a recent report suggested that the use of kerosene and firewood exposes 30 million Nigerian households to severe health hazards.

    Yet, firewood, charcoal and kerosene remain the most used means of domestic cooking in Nigeria.

    With the price of cooking gas out of the reach of the vast majority of Nigerian households, what alternatives are available for Nigerians when that provision of the NDC becomes effective?

    To make households convert to Liquefied Natural Gas (LNG), the product will have to be heavily subsidised and made readily available.

    This is one reason, among many others, why the world should address the issue of climate change as a multilateral crisis which requires international cooperation.

    Therefore, to strengthen climate action, wealthy countries should consider the growth and development of vulnerable countries by paying their fair share rather than making endless demands. (NANFeatures)

     

    **** If used, please credit the author as well as News Agency of Nigeria

    NewsSourceCredit: NAN

  •  The maiden joint exercise for National Defence College and War Colleges in the country on national security strategy commenced on Monday in Abuja The Chief of Defence Staff CDS Gen Lucky Irabor declared open the event Code named Exercise Grand Nationale Irabor said scholars had described the current security environment as volatile uncertain complex and ambiguous hence the need for both strategic and operational level engagement According to him the exercise is organised to see how best to address the challenges It is a global problem of which Nigeria is a part because the environment is such that is volatile uncertain complex and ambiguous So these problems and future ones to come are what this exercise is intended to address So that the officers or the individuals who will be charged with these responsibilities will be able to know what to do and where the cross cutting concentrations will be That is exactly what this exercise stands for he said The Commandant NDC Rear Adm Murtala Bashir said the exercise was a significant milestone in the life of the colleges and the Nigerian armed forces at large Bashir said the security challenges facing the country were constantly evolving as such addressing it required seamless joint operation to keep pace with the evolution of those threats He said it was in such light that training institutions must continually be forward thinking and innovative in the execution of training mandates He said that the Exercise Grand Nationale was originally designed to provide participants with relevant exposure and skills to articulate national security interests It was also for them to consider power attributes and valued preferences when making strategic defence plans and review of security and defence policies He added that the exercise would give the NDC and the services war colleges the opportunity to synchronize their activities at strategic and operational levels of command Bashir expressed optimism that the joint training would boost cooperation and interoperability between the operational and strategic levels of military operations He added that the joint exercise would enhance the capability of the participants to operate across the full spectrum of joint military operations NewsSourceCredit NAN
    Defence, war colleges hold joint exercise on national security strategy
     The maiden joint exercise for National Defence College and War Colleges in the country on national security strategy commenced on Monday in Abuja The Chief of Defence Staff CDS Gen Lucky Irabor declared open the event Code named Exercise Grand Nationale Irabor said scholars had described the current security environment as volatile uncertain complex and ambiguous hence the need for both strategic and operational level engagement According to him the exercise is organised to see how best to address the challenges It is a global problem of which Nigeria is a part because the environment is such that is volatile uncertain complex and ambiguous So these problems and future ones to come are what this exercise is intended to address So that the officers or the individuals who will be charged with these responsibilities will be able to know what to do and where the cross cutting concentrations will be That is exactly what this exercise stands for he said The Commandant NDC Rear Adm Murtala Bashir said the exercise was a significant milestone in the life of the colleges and the Nigerian armed forces at large Bashir said the security challenges facing the country were constantly evolving as such addressing it required seamless joint operation to keep pace with the evolution of those threats He said it was in such light that training institutions must continually be forward thinking and innovative in the execution of training mandates He said that the Exercise Grand Nationale was originally designed to provide participants with relevant exposure and skills to articulate national security interests It was also for them to consider power attributes and valued preferences when making strategic defence plans and review of security and defence policies He added that the exercise would give the NDC and the services war colleges the opportunity to synchronize their activities at strategic and operational levels of command Bashir expressed optimism that the joint training would boost cooperation and interoperability between the operational and strategic levels of military operations He added that the joint exercise would enhance the capability of the participants to operate across the full spectrum of joint military operations NewsSourceCredit NAN
    Defence, war colleges hold joint exercise on national security strategy
    Defence/Security5 months ago

    Defence, war colleges hold joint exercise on national security strategy

    The maiden joint exercise for National Defence College and War Colleges in the country on national security strategy commenced on Monday, in Abuja.

    The Chief of Defence Staff (CDS), Gen. Lucky Irabor, declared open the event Code named “Exercise Grand Nationale”.

    Irabor said scholars had described the current security environment as volatile, uncertain, complex and ambiguous, hence the need for both strategic and operational level engagement.

    According to him, the exercise is organised to see how best to address the challenges.

    “It is a global problem of which Nigeria is a part, because the environment is such that is volatile, uncertain, complex and ambiguous.

    “So, these problems and future ones to come are what this exercise is intended to address.

    “So that the officers or the individuals who will be charged with these responsibilities will be able to know what to do and where the cross cutting concentrations will be.

    “That is exactly what this exercise stands for,” he said.

    The Commandant, NDC, Rear Adm. Murtala Bashir, said the exercise was a significant milestone in the life of the colleges and the Nigerian armed forces at large.

    Bashir said the security challenges facing the country were constantly evolving as such addressing it required seamless joint operation to keep pace with the evolution of those threats.

    He said it was in such light that training institutions must continually be forward thinking and innovative in the execution of training mandates.

    He said that the Exercise Grand Nationale was originally designed to provide participants with relevant exposure and skills to articulate national security interests.

    It was also for them to consider power attributes and valued preferences when making strategic defence plans, and review of security and defence policies.

    He added that the exercise would give the NDC and the services war colleges the opportunity to synchronize their activities at strategic and operational levels of command.

    Bashir expressed optimism that the joint training would boost cooperation and interoperability between the operational and strategic levels of military operations.

    He added that the joint exercise would enhance the capability of the participants to operate across the full spectrum of joint military operations.

    NewsSourceCredit: NAN

  •  President Muhammadu Buhari in the course of the week under review met behind closed door with Gov Hope Uzodinma of Imo who was in the State House to update him on socio economic and security developments in the state Uzodinma who briefed State House correspondents at the end of the meeting disclosed that the president would soon visit Imo to inaugurate some developmental projects including network of roads executed by the State Government The News Agency of Nigeria reports that the Nigerian leader had earlier on Sunday addressed the nation as part of activities to commemorate this year s Democracy Day In the broadcast Buhari charged Nigerians never to forget the sacrifices of the heroes of Nigeria s democracy during 1993 electoral process The president reassured Nigerians that he would ensure a free fair and transparent electoral process in the country He however urged political parties candidates to continue running issue focused campaigns and to treat opponents with dignity saying politics should never be seen as do or die affair On July 15 the president presided over the meeting of the Federal Executive Council FEC The council approved N90 8 billion for the rehabilitation of Kashimbila Takum Chanchangi road in Taraba and procurement equipment for some airports in the country NAN reports that N66 9 billion of the amount was approved for the construction Kashimbila Takum Chanchangi road in Taraba while the remaining N23 9 billion was approved for the procurement of equipment for the airports It also approved N964 million for the provision of a satellite based education system equipment in three primary schools in each of the 36 states of the federation and the Federal Capital Territory Abuja The president also met behind closed door with Gov Yahaya Bello of Kogi on Wednesday in the State House Abuja The governor who also addressed State House correspondents after the meeting appealed to Nigerians to always promote issues that would enhance peace and unity and not allow primordial sentiments to continue to cause divisions Buhari was also in Wudil Kano State for the Passing Out Parade of the Regular Course 42016 Cadets of the Nigeria Police Academy Wudil on Thursday Speaking at the event the president maintained that the three priorities of his administration security economy and corruption had received significant attention with measurable results He said this followed his administration s vision of making Nigeria more peaceful prosperous and reliable among nations Buhari noted that policies and actions of the government made impact on the tripod vision in spite of challenges assuring that more would still be done to safeguard lives and property enhance livelihood and ensure probity On June 17 the president participated in a virtual meeting hosted by President Joe Biden of the United States on Major Economies Forum MEF on Energy and Climate Change At the forum Buhari restated Nigeria s commitment for a safer and healthier global climate listing the country s updated Nationally Determined Contribution NDC to include elimination of kerosene lighting by 2030 He listed other measures to include increase in use of buses for public transport and reduction in burning of crop residues He said that an updated NDC to the UN Framework Convention on Climate Change had been submitted to replace the interim contribution of May 27 2021 The presidential engagements of the week ended with a letter from the presidential candidate of the All Progressives Congress APC Asiwaju Bola Tinubu who described Buhari as a true leader brother and friend In the letter he personally signed the presidential candidate remarked that Buhari had demonstrated a sense of purpose composure and maturity in the weeks leading to the Special Convention of the party Tinubu expressed gratitude for the president s congratulatory letter to him adding that while all the contestants expected Buhari to choose his successor he simply allowed a level playing field The letter titled Deep Appreciation Tinubu congratulated the president for the successful conclusion of the Convention and assured him of an issue focused campaign leading to the 2023 general elections NewsSourceCredit NAN
    Buhari to inaugurate roads, other projects in Imo – Uzodinma
     President Muhammadu Buhari in the course of the week under review met behind closed door with Gov Hope Uzodinma of Imo who was in the State House to update him on socio economic and security developments in the state Uzodinma who briefed State House correspondents at the end of the meeting disclosed that the president would soon visit Imo to inaugurate some developmental projects including network of roads executed by the State Government The News Agency of Nigeria reports that the Nigerian leader had earlier on Sunday addressed the nation as part of activities to commemorate this year s Democracy Day In the broadcast Buhari charged Nigerians never to forget the sacrifices of the heroes of Nigeria s democracy during 1993 electoral process The president reassured Nigerians that he would ensure a free fair and transparent electoral process in the country He however urged political parties candidates to continue running issue focused campaigns and to treat opponents with dignity saying politics should never be seen as do or die affair On July 15 the president presided over the meeting of the Federal Executive Council FEC The council approved N90 8 billion for the rehabilitation of Kashimbila Takum Chanchangi road in Taraba and procurement equipment for some airports in the country NAN reports that N66 9 billion of the amount was approved for the construction Kashimbila Takum Chanchangi road in Taraba while the remaining N23 9 billion was approved for the procurement of equipment for the airports It also approved N964 million for the provision of a satellite based education system equipment in three primary schools in each of the 36 states of the federation and the Federal Capital Territory Abuja The president also met behind closed door with Gov Yahaya Bello of Kogi on Wednesday in the State House Abuja The governor who also addressed State House correspondents after the meeting appealed to Nigerians to always promote issues that would enhance peace and unity and not allow primordial sentiments to continue to cause divisions Buhari was also in Wudil Kano State for the Passing Out Parade of the Regular Course 42016 Cadets of the Nigeria Police Academy Wudil on Thursday Speaking at the event the president maintained that the three priorities of his administration security economy and corruption had received significant attention with measurable results He said this followed his administration s vision of making Nigeria more peaceful prosperous and reliable among nations Buhari noted that policies and actions of the government made impact on the tripod vision in spite of challenges assuring that more would still be done to safeguard lives and property enhance livelihood and ensure probity On June 17 the president participated in a virtual meeting hosted by President Joe Biden of the United States on Major Economies Forum MEF on Energy and Climate Change At the forum Buhari restated Nigeria s commitment for a safer and healthier global climate listing the country s updated Nationally Determined Contribution NDC to include elimination of kerosene lighting by 2030 He listed other measures to include increase in use of buses for public transport and reduction in burning of crop residues He said that an updated NDC to the UN Framework Convention on Climate Change had been submitted to replace the interim contribution of May 27 2021 The presidential engagements of the week ended with a letter from the presidential candidate of the All Progressives Congress APC Asiwaju Bola Tinubu who described Buhari as a true leader brother and friend In the letter he personally signed the presidential candidate remarked that Buhari had demonstrated a sense of purpose composure and maturity in the weeks leading to the Special Convention of the party Tinubu expressed gratitude for the president s congratulatory letter to him adding that while all the contestants expected Buhari to choose his successor he simply allowed a level playing field The letter titled Deep Appreciation Tinubu congratulated the president for the successful conclusion of the Convention and assured him of an issue focused campaign leading to the 2023 general elections NewsSourceCredit NAN
    Buhari to inaugurate roads, other projects in Imo – Uzodinma
    General news6 months ago

    Buhari to inaugurate roads, other projects in Imo – Uzodinma

    President Muhammadu Buhari in the course of the week under review met behind closed door with Gov. Hope Uzodinma of Imo, who was in the State House to update him on socio-economic and security developments in the state.

    Uzodinma, who briefed State House correspondents at the end of the meeting, disclosed that the president would soon visit Imo to inaugurate some developmental projects, including network of roads executed by the State Government.

    The News Agency of Nigeria reports that the Nigerian leader had earlier on Sunday addressed the nation as part of activities to commemorate this year’s Democracy Day.

    In the broadcast, Buhari charged Nigerians never to forget the sacrifices of the heroes of Nigeria’s democracy during 1993 electoral process.

    The president reassured Nigerians that he would ensure a free, fair and transparent electoral process in the country.

    He, however, urged political parties candidates to continue running issue-focused campaigns and to treat opponents with dignity, saying politics should never be seen as ”do-or-die” affair.

    On July 15, the president presided over the meeting of the Federal Executive Council (FEC).

    The council approved N90.8 billion for the rehabilitation of Kashimbila-Takum-Chanchangi road in Taraba and procurement equipment for some airports in the country.

    NAN reports that N66.9 billion of the amount was approved for the construction Kashimbila-Takum-Chanchangi road in Taraba, while the remaining N23.9 billion was approved for the procurement of equipment for the airports.

    It also approved N964 million for the provision of a satellite-based education system equipment in three primary schools in each of the 36 states of the federation and the Federal Capital Territory, Abuja.

    The president also met behind closed door with Gov. Yahaya Bello of Kogi on Wednesday in the State House, Abuja.

    The governor, who also addressed State House correspondents after the meeting, appealed to Nigerians to always promote issues that would enhance peace and unity, and not allow primordial sentiments to continue to cause divisions.

    Buhari was also in Wudil, Kano State, for the Passing-Out-Parade of the Regular Course 42016 Cadets of the Nigeria Police Academy, Wudil, on Thursday.

    Speaking at the event, the president maintained that the three priorities of his administration; security, economy and corruption, had received significant attention with measurable results.

    He said this followed his administration’s vision of making Nigeria more peaceful, prosperous and reliable, among nations.

    Buhari noted that policies and actions of the government made impact on the tripod vision, in spite of challenges, assuring that more would still be done to safeguard lives and property, enhance livelihood and ensure probity.

    On June 17, the president participated in a virtual meeting, hosted by President Joe Biden of the United States, on Major Economies Forum (MEF) on Energy and Climate Change.

    At the forum, Buhari restated Nigeria’s commitment for a safer and healthier global climate, listing the country’s updated Nationally Determined Contribution (NDC) to include elimination of kerosene lighting by 2030.

    He listed other measures to include increase in use of buses for public transport and reduction in burning of crop residues.

    He said that an updated NDC to the UN Framework Convention on Climate Change had been submitted to replace the interim contribution of May 27, 2021.

    The presidential engagements of the week ended with a letter from the presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Tinubu, who described Buhari as a “true leader, brother and friend”.

    In the letter he personally signed, the presidential candidate remarked that Buhari had demonstrated a “sense of purpose, composure and maturity” in the weeks leading to the Special Convention of the party.Tinubu expressed gratitude for the president’s congratulatory letter to him, adding that while all the contestants expected Buhari to “choose” his successor, he simply allowed a level playing field.

    The letter, titled ”Deep Appreciation”, Tinubu congratulated the president for the successful conclusion of the Convention and assured him of an issue focused campaign leading to the 2023 general elections.

    NewsSourceCredit: NAN

  •   The Global Center on Adaptation GCA GCA org signed a Memorandum of Understanding with the Ministry of Economy and Finance of the Republic of C te d Ivoire to improve and increase the proportion of investments in adaptation and resilience financed by the next EUR from the country 2 billion Sustainable Bonds Program C te d Ivoire s Nationally Determined Contributions NDCs identify 11 sectors vulnerable to climate change and estimate the total cost of implementing adaptation actions at USD 1 76 billion GCA will support the Republic of C te d Ivoire in the identification of ESG projects with a focus on projects related to climate change and adaptation through a two phase intervention The immediate focus of GCA s technical assistance will be on budget assessment and identification of eligible budget expenditures within the scope of C te d Ivoire s ESG Framework And in the medium to long term promote the implementation of processes and tools to Classify expenditures related to climate change Track climate related expenditures in the national budget system climate budget labeling and Train relevant government entities on these processes and tools including the ESG Committee In signing the Memorandum of Understanding Patrick Verkooijen Executive Director of the Global Adaptation Center noted that Through this work GCA will support the Government of C te d Ivoire to scale adaptation and resilience by building on the credibility scale momentum and liquidity that the green bond market has achieved over the last ten years We hope that through our Africa Adaptation Acceleration Program other countries on the continent will follow the example of C te d Ivoire so that funding is available to implement the necessary adaptation actions to ensure the future of life and the livelihoods of people across the continent His Excellency Adama Coulibaly Honorable Minister of Economy and Finance of the Republic of Ivory Coast said Our goal in issuing the first sustainable sovereign bonds is in line with His Excellency President Alassane Ouattara s climate policy commitment to accelerate bold action on resilience projects and adaptation finance Public spending alone cannot fill the adaptation finance gap so private sector investment must scale alongside government investments to supplement limited resources We welcome the support of the Global Adaptation Center to provide technical assistance and capacity building to conduct a review of public and institutional climate spending to identify adaptation assets C te d Ivoire has formed an ESG Committee to select projects financed by the Sustainable Bonds The ESG Committee is led by the Ministry of Economy and Finance specifically the Department of Public Debt and Donations Direction de la Dette Publique et des Dons It includes representatives from the Ministry of Planning and Development the Ministry of Budget and from a variety of sectoral Ministries that cover critical policies related to ESG Eligible Categories in particular the Ministry of Environment and Sustainable Development the Ministry of Health the Ministry of Education Ministry of Energy Ministry of Hydraulics and Ministry of Solidarity and Fight against Poverty
    Global Center on Adaptation to increase share of adaptation and resilience investments in Côte d’Ivoire’s EUR 2 billion Sustainable Bond Program
      The Global Center on Adaptation GCA GCA org signed a Memorandum of Understanding with the Ministry of Economy and Finance of the Republic of C te d Ivoire to improve and increase the proportion of investments in adaptation and resilience financed by the next EUR from the country 2 billion Sustainable Bonds Program C te d Ivoire s Nationally Determined Contributions NDCs identify 11 sectors vulnerable to climate change and estimate the total cost of implementing adaptation actions at USD 1 76 billion GCA will support the Republic of C te d Ivoire in the identification of ESG projects with a focus on projects related to climate change and adaptation through a two phase intervention The immediate focus of GCA s technical assistance will be on budget assessment and identification of eligible budget expenditures within the scope of C te d Ivoire s ESG Framework And in the medium to long term promote the implementation of processes and tools to Classify expenditures related to climate change Track climate related expenditures in the national budget system climate budget labeling and Train relevant government entities on these processes and tools including the ESG Committee In signing the Memorandum of Understanding Patrick Verkooijen Executive Director of the Global Adaptation Center noted that Through this work GCA will support the Government of C te d Ivoire to scale adaptation and resilience by building on the credibility scale momentum and liquidity that the green bond market has achieved over the last ten years We hope that through our Africa Adaptation Acceleration Program other countries on the continent will follow the example of C te d Ivoire so that funding is available to implement the necessary adaptation actions to ensure the future of life and the livelihoods of people across the continent His Excellency Adama Coulibaly Honorable Minister of Economy and Finance of the Republic of Ivory Coast said Our goal in issuing the first sustainable sovereign bonds is in line with His Excellency President Alassane Ouattara s climate policy commitment to accelerate bold action on resilience projects and adaptation finance Public spending alone cannot fill the adaptation finance gap so private sector investment must scale alongside government investments to supplement limited resources We welcome the support of the Global Adaptation Center to provide technical assistance and capacity building to conduct a review of public and institutional climate spending to identify adaptation assets C te d Ivoire has formed an ESG Committee to select projects financed by the Sustainable Bonds The ESG Committee is led by the Ministry of Economy and Finance specifically the Department of Public Debt and Donations Direction de la Dette Publique et des Dons It includes representatives from the Ministry of Planning and Development the Ministry of Budget and from a variety of sectoral Ministries that cover critical policies related to ESG Eligible Categories in particular the Ministry of Environment and Sustainable Development the Ministry of Health the Ministry of Education Ministry of Energy Ministry of Hydraulics and Ministry of Solidarity and Fight against Poverty
    Global Center on Adaptation to increase share of adaptation and resilience investments in Côte d’Ivoire’s EUR 2 billion Sustainable Bond Program
    Africa6 months ago

    Global Center on Adaptation to increase share of adaptation and resilience investments in Côte d’Ivoire’s EUR 2 billion Sustainable Bond Program

    The Global Center on Adaptation (GCA) (GCA.org) signed a Memorandum of Understanding with the Ministry of Economy and Finance of the Republic of Côte d'Ivoire to improve and increase the proportion of investments in adaptation and resilience financed by the next EUR from the country. 2 billion Sustainable Bonds Program.

    Côte d'Ivoire's Nationally Determined Contributions (NDCs) identify 11 sectors vulnerable to climate change and estimate the total cost of implementing adaptation actions at USD 1.76 billion.

    GCA will support the Republic of Côte d'Ivoire in the identification of ESG projects, with a focus on projects related to climate change and adaptation, through a two-phase intervention:

    The immediate focus of GCA's technical assistance will be on budget assessment and identification of eligible budget expenditures, within the scope of Côte d'Ivoire's ESG Framework. And in the medium to long term, promote the implementation of processes and tools to:

    Classify expenditures related to climate change Track climate-related expenditures in the national budget system (climate budget labeling) and Train relevant government entities on these processes and tools (including the ESG Committee).

    In signing the Memorandum of Understanding, Patrick Verkooijen, Executive Director of the Global Adaptation Center, noted that:

    “Through this work, GCA will support the Government of Côte d'Ivoire to scale adaptation and resilience by building on the credibility, scale, momentum and liquidity that the green bond market has achieved over the last ten years. We hope that, through our Africa Adaptation Acceleration Program, other countries on the continent will follow the example of Côte d'Ivoire so that funding is available to implement the necessary adaptation actions to ensure the future of life and the livelihoods of people across the continent.

    His Excellency Adama Coulibaly, Honorable Minister of Economy and Finance of the Republic of Ivory Coast, said:

    “Our goal in issuing the first sustainable sovereign bonds is in line with His Excellency President Alassane Ouattara's climate policy commitment to accelerate bold action on resilience projects and adaptation finance. Public spending alone cannot fill the adaptation finance gap, so private sector investment must scale alongside government investments to supplement limited resources. We welcome the support of the Global Adaptation Center to provide technical assistance and capacity building to conduct a review of public and institutional climate spending to identify adaptation assets.”

    Côte d'Ivoire has formed an ESG Committee to select projects financed by the Sustainable Bonds. The ESG Committee is led by the Ministry of Economy and Finance, specifically the Department of Public Debt and Donations (“Direction de la Dette Publique et des Dons”). It includes representatives from the Ministry of Planning and Development, the Ministry of Budget, and from a variety of sectoral Ministries that cover critical policies related to ESG Eligible Categories, in particular, the Ministry of Environment and Sustainable Development, the Ministry of Health, the Ministry of Education, Ministry of Energy, Ministry of Hydraulics and Ministry of Solidarity and Fight against Poverty.

  •  The Federal Government on Monday reiterated its commitment to ensuring that Climate Change Act and other environmental policies were implemented in the country The Minister of Environment Alhaji Mohammed Abdullahi made the commitment while marking the World Environment Day WED with EU French Embassy and other stakeholders in Abuja The News Agency of Nigeria reports that Environment Day is celebrated globally on June 5 annually since 1972 and has this year theme tagged OnlyOneEarth The Day is led by the UN Environment Programme UNEP and is the largest global platform for environmental public outreach and this year it will be hosted by Sweden Abdullahi who highlighted the Federal Government s commitment toward addressing the climate change impact and other environmental challenges said that the efforts was to promote a cleaner and a healthier environment He said that the ministry was focusing in ensuring that Nigerians live in a sustainable and harmony with nature According to him Nigeria submitted her Nationally Determined Contributions NDCs in 2021 which was reviewed before the UN Climate Change Conference COP26 at Glasgow in November Between the last six months we have the Climate Change Act which is indeed bringing a legal policy framework that will allow us tackle the climate change challenges We also have the energy transition programme which we are working with Federal Ministry of Petroleum and Power to see how we can reduce our emissions It is also important that the whole world is now looking toward what can be done to address the challenges Just last March the UN Environment Assembly met in Nairobi to share best practices for environmental sustainability which Nigeria attended he said The minister said that the aimed of the meeting was to create momentum for governments to build on and catalyse impact on multilateral environmental efforts As well as to protect and restore the natural world on which the economies and societies depend He said that the effort was to address the impact of climate change and other related environmental issues Abdullahi called on all stakeholders and Nigerians as well to support the government s effort to restore and protect the environment We should join hands and be committed in reducing our own damage to the environment because we have an obligation to ourselves and to our future generation So each and every one of us has a role to play in trying to improve our environment he said The French Ambassador to Nigeria Mrs Emmanuelle Blatmann urged stakeholders and Nigerians to act together toward addressing environmental challenges in an integrated manner without any further delay Blatmann said that France country had placed issues such as climate change renewable energy and protection of the biodiversity as the main priorities of its foreign policy France is playing its full part in this effort within the international community and is deploying a comprehensive diplomacy to respond to the urgency of climate environmental crisis in Nigeria The French Embassy the French Development Agency FDA and their partners including the ministry are working hard to support the initiatives aiming at reducing the impact of climate change in Nigeria she said The EU Ambassador to Nigeria and ECOWAS Amb Samuela Isopi said that the EU was in front burner in addressing the impact of climate change to ensure the environment was protected Climate change affect directly to the life of our citizens the EU has set very ambitious goal to ensure that this issue is address We are engaging the partners around the world to speed up the implementation on the environmental policies The EU is also calling on other developed countries to show their collective commitment to mobilise the private sectors in ensuring a healthy and cleaner environment she said NAN
    Environment Day: FG reiterates commitment to implement environmental policies
     The Federal Government on Monday reiterated its commitment to ensuring that Climate Change Act and other environmental policies were implemented in the country The Minister of Environment Alhaji Mohammed Abdullahi made the commitment while marking the World Environment Day WED with EU French Embassy and other stakeholders in Abuja The News Agency of Nigeria reports that Environment Day is celebrated globally on June 5 annually since 1972 and has this year theme tagged OnlyOneEarth The Day is led by the UN Environment Programme UNEP and is the largest global platform for environmental public outreach and this year it will be hosted by Sweden Abdullahi who highlighted the Federal Government s commitment toward addressing the climate change impact and other environmental challenges said that the efforts was to promote a cleaner and a healthier environment He said that the ministry was focusing in ensuring that Nigerians live in a sustainable and harmony with nature According to him Nigeria submitted her Nationally Determined Contributions NDCs in 2021 which was reviewed before the UN Climate Change Conference COP26 at Glasgow in November Between the last six months we have the Climate Change Act which is indeed bringing a legal policy framework that will allow us tackle the climate change challenges We also have the energy transition programme which we are working with Federal Ministry of Petroleum and Power to see how we can reduce our emissions It is also important that the whole world is now looking toward what can be done to address the challenges Just last March the UN Environment Assembly met in Nairobi to share best practices for environmental sustainability which Nigeria attended he said The minister said that the aimed of the meeting was to create momentum for governments to build on and catalyse impact on multilateral environmental efforts As well as to protect and restore the natural world on which the economies and societies depend He said that the effort was to address the impact of climate change and other related environmental issues Abdullahi called on all stakeholders and Nigerians as well to support the government s effort to restore and protect the environment We should join hands and be committed in reducing our own damage to the environment because we have an obligation to ourselves and to our future generation So each and every one of us has a role to play in trying to improve our environment he said The French Ambassador to Nigeria Mrs Emmanuelle Blatmann urged stakeholders and Nigerians to act together toward addressing environmental challenges in an integrated manner without any further delay Blatmann said that France country had placed issues such as climate change renewable energy and protection of the biodiversity as the main priorities of its foreign policy France is playing its full part in this effort within the international community and is deploying a comprehensive diplomacy to respond to the urgency of climate environmental crisis in Nigeria The French Embassy the French Development Agency FDA and their partners including the ministry are working hard to support the initiatives aiming at reducing the impact of climate change in Nigeria she said The EU Ambassador to Nigeria and ECOWAS Amb Samuela Isopi said that the EU was in front burner in addressing the impact of climate change to ensure the environment was protected Climate change affect directly to the life of our citizens the EU has set very ambitious goal to ensure that this issue is address We are engaging the partners around the world to speed up the implementation on the environmental policies The EU is also calling on other developed countries to show their collective commitment to mobilise the private sectors in ensuring a healthy and cleaner environment she said NAN
    Environment Day: FG reiterates commitment to implement environmental policies
    Environment6 months ago

    Environment Day: FG reiterates commitment to implement environmental policies

    The Federal Government on Monday reiterated its commitment to ensuring that Climate Change Act and other environmental policies were implemented in the country.
    The Minister of Environment, Alhaji Mohammed Abdullahi, made the commitment, while marking the World Environment Day (WED) with EU, French Embassy and other stakeholders in Abuja.
    The News Agency of Nigeria reports that Environment Day is celebrated globally on June 5, annually since 1972 and has this year theme tagged: “#OnlyOneEarth’’
    The Day is led by the UN Environment Programme (UNEP) and is the largest global platform for environmental public outreach and this year it will be hosted by Sweden.
    Abdullahi, who highlighted the Federal Government’s commitment toward addressing the climate change impact and other environmental challenges, said that the efforts was to promote a cleaner and a healthier environment.
    He said that the ministry was focusing in ensuring that Nigerians live in a sustainable and harmony with nature.
    According to him, Nigeria submitted her Nationally Determined Contributions (NDCs) in 2021 which was reviewed before the UN Climate Change Conference COP26 at Glasgow in November.
    “Between the last six months, we have the Climate Change Act, which is indeed bringing a legal policy framework that will allow us tackle the climate change challenges.
    “We also have the energy transition programme which we are working with Federal Ministry of Petroleum and Power to see how we can reduce our emissions.
    “It is also important that the whole world is now looking toward what can be done to address the challenges.
    “Just last March, the UN Environment Assembly, met in Nairobi, to share best practices for environmental sustainability which Nigeria attended,’’ he said.
    The minister said that the aimed of the meeting was to create momentum for governments to build on and catalyse impact on multilateral environmental efforts.
    “As well as to protect and restore the natural world on which the economies and societies depend.’’
    He said that the effort was to address the impact of climate change and other related environmental issues.
    Abdullahi called on all stakeholders and Nigerians as well to support the government`s effort to restore and protect the environment.
    “We should join hands and be committed in reducing our own damage to the environment because we have an obligation to ourselves and to our future generation.
    “So, each and every one of us has a role to play in trying to improve our environment,’’ he said.
    The French Ambassador to Nigeria, Mrs Emmanuelle Blatmann, urged stakeholders and Nigerians to act together toward addressing environmental challenges in an integrated manner without any further delay.
    Blatmann said that France country had placed issues such as climate change, renewable energy and protection of the biodiversity as the main priorities of its foreign policy.
    “France is playing its full part in this effort within the international community and is deploying a comprehensive diplomacy to respond to the urgency of climate environmental crisis in Nigeria.
    “The French Embassy, the French Development Agency, (FDA) and their partners including the ministry are working hard to support the initiatives aiming at reducing the impact of climate change in Nigeria,’’ she said.
    The EU Ambassador to Nigeria and ECOWAS, Amb. Samuela Isopi, said that the EU was in front burner in addressing the impact of climate change to ensure the environment was protected.
    “Climate change affect directly to the life of our citizens, the EU has set very ambitious goal to ensure that this issue is address.
    “We are engaging the partners around the world to speed up the implementation on the environmental policies.
    “The EU is also calling on other developed countries to show their collective commitment to mobilise the private sectors in ensuring a healthy and cleaner environment,’’ she said.


    (NAN)

  •  The Minister of Power Mr Abubakar Aliyu has advised African countries to develop renewable energy opportunities to avoid being left behind Aliyu gave the advice at the end of the three day Nigeria Africa Natural Resources and Energy Investment Summit on Friday in Abuja He said that African countries should put strategies and plans in place to develop their renewable energy as the world was gradually moving towards less dependence on fossil fuels The theme of the summit is Towards a Greener Africa He said that some countnes that have abundant water resources sunlight wind should begin to embrace technologies that would enhance these capabilites for commercial purposes Dependence on fossil fuels and hydrocarbons will soon be unsustainable as we match towards our vanous Net Zero commitments and Nationally Determined Contributions NDCs For Nigeria we have committed to Net Zero by the year 2060 In the light of the global challenge of rising temperature and our collective resolve to reduce it to below 1 5 Degrees centigrade countries must explore ways to develop renewable energy It is interesting to observe that most Africans do not have access to electricity he said He said that Africa had abundant renewable energy potentials which could provide significant power leading to economic growth We are all aware that access to Power leads to faster economic growth of nations To deal with the challenges nations are facing we must put in place frameworks and effective mechanisms for collaboraton and cooperation in areas where there are commercal strengths and advantages particularly within the renewable Energy space He said that Mohammadu Buhari led Government had put enabling structures in place to encourage and attract potential investors to seek opportunties of collaboration on the African continent especially in the power sector For example the West African Power Pool WAPP programme affords us the opportunity to work with other African countnes to build a 330kV Double Circuit Line from Bimin Kebbi all the way to Burkina Faso passing through Niger Also we are building AKK Gas Pipeline project passing through Ajaokuta Kaduna and through North Africa to Europe Furthermore we have built another Gas pipeline from Escravos to supply gas to Ghana with connection points at Benin Republic and Togo To survive as a continent we must collaborate Countries like Nigeria have made commitments to achieve their Natonally Determined Contributions NDCs in line with the Paris Agreement on Climate Change and the COP26 Agreement in Glasgow To achieve this we have to scale up our Solar Wind HydroPower and even the new Hydrogen opportunities including other new clean technologies Africa needs to focus on proven approaches as well as the mobilisation of resources to take advantage of carbon neutral energy sources We must devise innovative ways to access funds while also sustaining the increased investments in carbon energy sources and create enabling environment for broader sustainable development In her closing remarks Dr Oluwatoyin Akinlade the Permanent Secretary Mines and Steel Development said the three days summit had given an insight on the abundance of natural resources around to meet globally needed generations to come Akinlade said that numerous positions and points of view had been outlined and many messages were delivered covering the whole spectrum of natural resources and energy seen from the perspective of producers consumers and investors alike Nigeria and indeed Africa needs to be up to speed in the drive for clean energy security both in production and consumption It has been stated that the conventional resources base is sufficient to meet the projected growth in demand with technology advances and breakthroughs being critical in supporting this process It has also come through strongly in our discussions how overcoming the downstream challenges are equally as important as satisfying the upstream demands On environmental concerns we have listened to speakers stressing how environmental concerns will continue to have a huge bearing on energy resources future direction with pressure mounting in favour of adherence to cleaner resources We need to develop and implement robust response strategy in this direction NAN
    Minister advises African countries on renewable energy
     The Minister of Power Mr Abubakar Aliyu has advised African countries to develop renewable energy opportunities to avoid being left behind Aliyu gave the advice at the end of the three day Nigeria Africa Natural Resources and Energy Investment Summit on Friday in Abuja He said that African countries should put strategies and plans in place to develop their renewable energy as the world was gradually moving towards less dependence on fossil fuels The theme of the summit is Towards a Greener Africa He said that some countnes that have abundant water resources sunlight wind should begin to embrace technologies that would enhance these capabilites for commercial purposes Dependence on fossil fuels and hydrocarbons will soon be unsustainable as we match towards our vanous Net Zero commitments and Nationally Determined Contributions NDCs For Nigeria we have committed to Net Zero by the year 2060 In the light of the global challenge of rising temperature and our collective resolve to reduce it to below 1 5 Degrees centigrade countries must explore ways to develop renewable energy It is interesting to observe that most Africans do not have access to electricity he said He said that Africa had abundant renewable energy potentials which could provide significant power leading to economic growth We are all aware that access to Power leads to faster economic growth of nations To deal with the challenges nations are facing we must put in place frameworks and effective mechanisms for collaboraton and cooperation in areas where there are commercal strengths and advantages particularly within the renewable Energy space He said that Mohammadu Buhari led Government had put enabling structures in place to encourage and attract potential investors to seek opportunties of collaboration on the African continent especially in the power sector For example the West African Power Pool WAPP programme affords us the opportunity to work with other African countnes to build a 330kV Double Circuit Line from Bimin Kebbi all the way to Burkina Faso passing through Niger Also we are building AKK Gas Pipeline project passing through Ajaokuta Kaduna and through North Africa to Europe Furthermore we have built another Gas pipeline from Escravos to supply gas to Ghana with connection points at Benin Republic and Togo To survive as a continent we must collaborate Countries like Nigeria have made commitments to achieve their Natonally Determined Contributions NDCs in line with the Paris Agreement on Climate Change and the COP26 Agreement in Glasgow To achieve this we have to scale up our Solar Wind HydroPower and even the new Hydrogen opportunities including other new clean technologies Africa needs to focus on proven approaches as well as the mobilisation of resources to take advantage of carbon neutral energy sources We must devise innovative ways to access funds while also sustaining the increased investments in carbon energy sources and create enabling environment for broader sustainable development In her closing remarks Dr Oluwatoyin Akinlade the Permanent Secretary Mines and Steel Development said the three days summit had given an insight on the abundance of natural resources around to meet globally needed generations to come Akinlade said that numerous positions and points of view had been outlined and many messages were delivered covering the whole spectrum of natural resources and energy seen from the perspective of producers consumers and investors alike Nigeria and indeed Africa needs to be up to speed in the drive for clean energy security both in production and consumption It has been stated that the conventional resources base is sufficient to meet the projected growth in demand with technology advances and breakthroughs being critical in supporting this process It has also come through strongly in our discussions how overcoming the downstream challenges are equally as important as satisfying the upstream demands On environmental concerns we have listened to speakers stressing how environmental concerns will continue to have a huge bearing on energy resources future direction with pressure mounting in favour of adherence to cleaner resources We need to develop and implement robust response strategy in this direction NAN
    Minister advises African countries on renewable energy
    Economy6 months ago

    Minister advises African countries on renewable energy

    The Minister of Power, Mr Abubakar Aliyu, has advised African countries to develop renewable energy opportunities to avoid being left behind.Aliyu gave the advice at the end of the three-day Nigeria-Africa Natural Resources and Energy Investment Summit on Friday in Abuja.He said that African countries should put strategies and plans in place to develop their renewable energy as the world was gradually moving towards less dependence on fossil fuels.The theme of the summit is “Towards a Greener Africa”.He said that some countnes that have abundant water resources, sunlight, wind should begin to embrace technologies that would enhance these capabilites for commercial purposes.“Dependence on fossil fuels and hydrocarbons will soon be unsustainable as we match towards our vanous Net Zero commitments and Nationally Determined Contributions (NDCs).“For Nigeria, we have committed to Net Zero by the year 2060.“In the light of the global challenge of rising temperature and our collective resolve to reduce it to below 1.5 Degrees centigrade, countries must explore ways to develop renewable energy.“It is interesting to observe that most Africans do not have access to electricity,” he said.He said that Africa had abundant renewable energy potentials which could provide significant power leading to economic growth.“We are all aware that access to Power leads to faster economic growth of nations.“To deal with the challenges nations are facing, we must put in place frameworks and effective mechanisms for collaboraton and cooperation in areas where there are commercal strengths and advantages, particularly within the renewable Energy space.”He said that Mohammadu Buhari-led Government had put enabling structures in place to encourage and attract potential investors to seek opportunties of collaboration on the African continent, especially in the power sector. “For example, the West African Power Pool (WAPP) programme affords us the opportunity to work with other African countnes to build a 330kV Double Circuit Line from Bimin Kebbi all the way to Burkina Faso, passing through Niger, .“Also, we are building AKK Gas Pipeline project passing through Ajaokuta, Kaduna and through North Africa to Europe.“Furthermore, we have built another Gas pipeline from Escravos to supply gas to Ghana with connection points at Benin Republic and Togo. To survive as a continent, we must collaborate.“Countries like Nigeria, have made commitments to achieve their Natonally Determined Contributions (NDCs) in line with the Paris Agreement on Climate Change and the COP26 Agreement in Glasgow.“To achieve this, we have to scale up our Solar, Wind, HydroPower and even the new Hydrogen opportunities, including other new clean technologies.“Africa needs to focus on proven approaches, as well as the mobilisation of resources to take advantage of carbon-neutral energy sources.“We must devise innovative ways to access funds while also sustaining the increased investments in carbon energy sources and create enabling environment for broader sustainable development.In her closing remarks, Dr Oluwatoyin Akinlade, the Permanent Secretary, Mines and Steel Development, said the three days summit had given an insight on the abundance of natural resources around to meet globally needed generations to come.Akinlade said that numerous positions and points of view had been outlined and many messages were delivered, covering the whole spectrum of natural resources and energy seen from the perspective of producers, consumers and investors alike.“Nigeria and indeed Africa needs to be up to speed in the drive for clean energy security, both in production and consumption.“It has been stated that the conventional resources base is sufficient to meet the projected growth in demand with technology advances and breakthroughs being critical in supporting this process.“It has also come through strongly in our discussions how overcoming the downstream challenges are equally as important as satisfying the upstream demands.” On environmental concerns, we have listened to speakers stressing how environmental concerns will continue to have a huge bearing on energy resources, future direction with pressure mounting in favour of adherence to cleaner resources.“We need to develop and implement robust response strategy in this direction.

    (NAN)

  •   Africa s gross domestic product has rebounded strongly in the past year but the lingering effects of the Covid 19 pandemic Russia s invasion of Ukraine and the war that followed could pose considerable challenges in the medium term This is according to the African Economic Outlook 2022 released by the African Development Bank www AfDB org on Wednesday Africa s gross domestic product grew by about 6 9 in 2021 This is after the continent suffered a pandemic induced contraction of 1 6 in 2020 says the Bank s flagship publication Rising oil prices and global demand in general have helped improve Africa s macroeconomic fundamentals according to the report But growth could slow to 4 1 in 2022 and remain stagnant there in 2023 due to the lingering pandemic and inflationary pressures caused by the Russian Ukrainian war Both countries are major grain suppliers to Africa The African Development Bank Group has responded to the likelihood of an impending food crisis with a 1 5 billion African Emergency Food Production Fund https bit ly 3asv0H3 approved by the Group s executive board the last week Its president Dr Akinwumi Adesina said that international efforts including those of the African Development Bank Group the G20 Common Debt Framework and the 650 billion in Special Drawing Rights issued by the Fund International Monetary Fund are supporting the recovery of the continent However he said recovery will continue to be costly Africa will need at least 432 billion to address the effects of Covid 19 on its economies and on the lives of its people resources it does not have Adesina said The theme of the 2022 African Economic Outlook is Supporting climate resilience and a just energy transition in Africa It highlights a growing threat to lives and livelihoods in Africa The Bank presented the report during the Group s Annual Meetings in Accra Ghana The meetings carry the same theme Acting Chief Economist and Vice President Kevin Urama said Climate change is the most existential challenge to Africa s development today Finding policies that address climate adaptation and mitigation of greenhouse gas emissions while ensuring social and economic development is one of the most enduring political challenges of our time says Urama He adds The African Economic Outlook 2022 report provides evidence based policy options to drive inclusive growth by building climate resilience and a just energy transition in Africa The African Economic Outlook makes it clear that the pandemic and the war between Russia and Ukraine could leave a lasting impression for several years if not as long as a decade Meanwhile around 30 million people in Africa were pushed into extreme poverty in 2021 and around 22 million jobs were lost in the same year due to the pandemic And the trend is expected to continue during this second half of 2022 and into 2023 Economic shocks stemming from the war between Russia and Ukraine could push an additional 1 8 million people across the African continent into extreme poverty in 2022 That number could increase by another 2 1 million in 2023 The continent s additional financial needs for 2020 22 are estimated at 432 billion Funding NDCs from African countries public commitments by countries on how they plan to play a role in collective action on climate change post 2020 will require up to 1 6 trillion between 2022 and 2030 The smallest emitter of climate forcing emissions Africa is disproportionately affected by climate change The continent loses between 5 and 15 of gross domestic product due to climate change Together African countries received just 18 3 billion in climate finance between 2016 and 2019 This leaves a climate finance gap of up to 127 2 billion annually between 2020 and 2030 The report estimates that Africa will have a carbon credit of up to 4 8 trillion by 2050 based on the current social cost of carbon The report underlines Africa s vulnerability to climate change In 2020 and 2021 Africa recorded 131 disasters related to extreme weather and climate change The report urges the international community to honor commitments such as the 100 billion in annual funding pledged by wealthy nations to support climate action in developing countries It charts the billions of dollars lost to climate events each year in Africa as well as the economic prospects for green growth It suggests for example that Africa could gain an additional 20 5 million jobs by 2050 if the world adjusts its energy consumption and manages to keep global warming to 1 5 degrees Celsius above pre industrial levels The African Economic Outlook 2022 proposes a series of policy recommendations to build back better and build resilient economies in Africa The proposals include accelerating vaccination against Covid 19 and providing strong support to national pharmaceutical industries reduce dependence on single sources of food and review global debt frameworks The theme of African Economic Outlook 2022 is also related to the United Nations Climate Conference COP 27 also known as the African COP which Egypt will host in November It will be the first time in five years that the United Nations climate conference will be held in Africa and it comes as the continent faces an alarming rise in climate related disasters
    African Economic Outlook 2022: Africa’s 2021 economic rebound impacted by lingering Covid-19 pandemic and Russia-Ukraine war
      Africa s gross domestic product has rebounded strongly in the past year but the lingering effects of the Covid 19 pandemic Russia s invasion of Ukraine and the war that followed could pose considerable challenges in the medium term This is according to the African Economic Outlook 2022 released by the African Development Bank www AfDB org on Wednesday Africa s gross domestic product grew by about 6 9 in 2021 This is after the continent suffered a pandemic induced contraction of 1 6 in 2020 says the Bank s flagship publication Rising oil prices and global demand in general have helped improve Africa s macroeconomic fundamentals according to the report But growth could slow to 4 1 in 2022 and remain stagnant there in 2023 due to the lingering pandemic and inflationary pressures caused by the Russian Ukrainian war Both countries are major grain suppliers to Africa The African Development Bank Group has responded to the likelihood of an impending food crisis with a 1 5 billion African Emergency Food Production Fund https bit ly 3asv0H3 approved by the Group s executive board the last week Its president Dr Akinwumi Adesina said that international efforts including those of the African Development Bank Group the G20 Common Debt Framework and the 650 billion in Special Drawing Rights issued by the Fund International Monetary Fund are supporting the recovery of the continent However he said recovery will continue to be costly Africa will need at least 432 billion to address the effects of Covid 19 on its economies and on the lives of its people resources it does not have Adesina said The theme of the 2022 African Economic Outlook is Supporting climate resilience and a just energy transition in Africa It highlights a growing threat to lives and livelihoods in Africa The Bank presented the report during the Group s Annual Meetings in Accra Ghana The meetings carry the same theme Acting Chief Economist and Vice President Kevin Urama said Climate change is the most existential challenge to Africa s development today Finding policies that address climate adaptation and mitigation of greenhouse gas emissions while ensuring social and economic development is one of the most enduring political challenges of our time says Urama He adds The African Economic Outlook 2022 report provides evidence based policy options to drive inclusive growth by building climate resilience and a just energy transition in Africa The African Economic Outlook makes it clear that the pandemic and the war between Russia and Ukraine could leave a lasting impression for several years if not as long as a decade Meanwhile around 30 million people in Africa were pushed into extreme poverty in 2021 and around 22 million jobs were lost in the same year due to the pandemic And the trend is expected to continue during this second half of 2022 and into 2023 Economic shocks stemming from the war between Russia and Ukraine could push an additional 1 8 million people across the African continent into extreme poverty in 2022 That number could increase by another 2 1 million in 2023 The continent s additional financial needs for 2020 22 are estimated at 432 billion Funding NDCs from African countries public commitments by countries on how they plan to play a role in collective action on climate change post 2020 will require up to 1 6 trillion between 2022 and 2030 The smallest emitter of climate forcing emissions Africa is disproportionately affected by climate change The continent loses between 5 and 15 of gross domestic product due to climate change Together African countries received just 18 3 billion in climate finance between 2016 and 2019 This leaves a climate finance gap of up to 127 2 billion annually between 2020 and 2030 The report estimates that Africa will have a carbon credit of up to 4 8 trillion by 2050 based on the current social cost of carbon The report underlines Africa s vulnerability to climate change In 2020 and 2021 Africa recorded 131 disasters related to extreme weather and climate change The report urges the international community to honor commitments such as the 100 billion in annual funding pledged by wealthy nations to support climate action in developing countries It charts the billions of dollars lost to climate events each year in Africa as well as the economic prospects for green growth It suggests for example that Africa could gain an additional 20 5 million jobs by 2050 if the world adjusts its energy consumption and manages to keep global warming to 1 5 degrees Celsius above pre industrial levels The African Economic Outlook 2022 proposes a series of policy recommendations to build back better and build resilient economies in Africa The proposals include accelerating vaccination against Covid 19 and providing strong support to national pharmaceutical industries reduce dependence on single sources of food and review global debt frameworks The theme of African Economic Outlook 2022 is also related to the United Nations Climate Conference COP 27 also known as the African COP which Egypt will host in November It will be the first time in five years that the United Nations climate conference will be held in Africa and it comes as the continent faces an alarming rise in climate related disasters
    African Economic Outlook 2022: Africa’s 2021 economic rebound impacted by lingering Covid-19 pandemic and Russia-Ukraine war
    Africa6 months ago

    African Economic Outlook 2022: Africa’s 2021 economic rebound impacted by lingering Covid-19 pandemic and Russia-Ukraine war

    Africa's gross domestic product has rebounded strongly in the past year, but the lingering effects of the Covid-19 pandemic, Russia's invasion of Ukraine and the war that followed could pose considerable challenges in the medium term. This is according to the African Economic Outlook 2022, released by the African Development Bank (www.AfDB.org) on ​​Wednesday.

    Africa's gross domestic product grew by about 6.9% in 2021. This is after the continent suffered a pandemic-induced contraction of 1.6% in 2020, says the Bank's flagship publication.

    Rising oil prices and global demand in general have helped improve Africa's macroeconomic fundamentals, according to the report. But growth could slow to 4.1% in 2022 and remain stagnant there in 2023, due to the lingering pandemic and inflationary pressures caused by the Russian-Ukrainian war. Both countries are major grain suppliers to Africa.

    The African Development Bank Group has responded to the likelihood of an impending food crisis with a $1.5 billion African Emergency Food Production Fund (https://bit.ly/3asv0H3) approved by the Group's executive board the last week. Its president, Dr. Akinwumi Adesina, said that international efforts, including those of the African Development Bank Group, the G20 Common Debt Framework and the $650 billion in Special Drawing Rights issued by the Fund International Monetary Fund, are supporting the recovery of the continent.

    However, he said recovery will continue to be costly. "Africa will need at least $432 billion to address the effects of Covid-19 on its economies and on the lives of its people, resources it does not have," Adesina said.

    The theme of the 2022 African Economic Outlook is "Supporting climate resilience and a just energy transition in Africa". It highlights a growing threat to lives and livelihoods in Africa. The Bank presented the report during the Group's Annual Meetings in Accra, Ghana. The meetings carry the same theme.

    Acting Chief Economist and Vice President Kevin Urama said: “Climate change is the most existential challenge to Africa's development today. Finding policies that address climate adaptation and mitigation of greenhouse gas emissions while ensuring social and economic development is one of the most enduring political challenges of our time,” says Urama. He adds: “The African Economic Outlook 2022 report provides evidence-based policy options to drive inclusive growth by building climate resilience and a just energy transition in Africa.”

    The African Economic Outlook makes it clear that the pandemic and the war between Russia and Ukraine could leave a lasting impression for several years, if not as long as a decade. Meanwhile, around 30 million people in Africa were pushed into extreme poverty in 2021 and around 22 million jobs were lost in the same year due to the pandemic. And the trend is expected to continue during this second half of 2022 and into 2023. Economic shocks stemming from the war between Russia and Ukraine could push an additional 1.8 million people across the African continent into extreme poverty in 2022. That number could increase by another 2.1 million in 2023. The continent's additional financial needs for 2020-22 are estimated at $432 billion. Funding NDCs from African countries — public commitments by countries on how they plan to play a role in collective action on climate change post-2020 — will require up to $1.6 trillion between 2022 and 2030. The smallest emitter of climate forcing emissions, Africa is disproportionately affected by climate change. The continent loses between 5% and 15% of gross domestic product due to climate change. Together, African countries received just $18.3 billion in climate finance between 2016 and 2019. This leaves a climate finance gap of up to $127.2 billion annually between 2020 and 2030.

    The report estimates that Africa will have a carbon credit of up to $4.8 trillion by 2050, based on the current social cost of carbon. The report underlines Africa's vulnerability to climate change. In 2020 and 2021, Africa recorded 131 disasters related to extreme weather and climate change.

    The report urges the international community to honor commitments such as the $100 billion in annual funding pledged by wealthy nations to support climate action in developing countries. It charts the billions of dollars lost to climate events each year in Africa, as well as the economic prospects for green growth. It suggests, for example, that Africa could gain an additional 20.5 million jobs by 2050 if the world adjusts its energy consumption and manages to keep global warming to 1.5 degrees Celsius above pre-industrial levels.

    The African Economic Outlook 2022 proposes a series of policy recommendations to build back better and build resilient economies in Africa. The proposals include accelerating vaccination against Covid-19 and providing strong support to national pharmaceutical industries; reduce dependence on single sources of food; and review global debt frameworks.

    The theme of African Economic Outlook 2022 is also related to the United Nations Climate Conference, COP 27, also known as the "African COP", which Egypt will host in November. It will be the first time in five years that the United Nations climate conference will be held in Africa, and it comes as the continent faces an alarming rise in climate-related disasters.

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