{"id":5737,"date":"2023-12-07T10:02:29","date_gmt":"2023-12-07T10:02:29","guid":{"rendered":"https:\/\/nigerdeltanews.ng\/cop28-nigeria-secures-over-5bn-commitment-for-adaptation-fund\/"},"modified":"2023-12-07T10:02:29","modified_gmt":"2023-12-07T10:02:29","slug":"cop28-nigeria-secures-over-5bn-commitment-for-adaptation-fund","status":"publish","type":"post","link":"https:\/\/nigerdeltanews.ng\/cop28-nigeria-secures-over-5bn-commitment-for-adaptation-fund\/","title":{"rendered":"COP28: Nigeria secures over $5bn commitment for adaptation fund"},"content":{"rendered":"<div>\n<p>The Federal Government says it has secured more than $5 billion in commitments for its climate action at the ongoing climate change conference, also known as COP28, in Dubai, UAE.<\/p>\n<p>Dr Salisu Dahiru, Director-General, National Council on Climate Change (NCCC), who disclosed this on Wednesday at an event organised to mark Nigeria Day at the conference, said the funds came from the US Government.<\/p>\n<p>According to him, $3 billion of the funds is for the recapitalisation of the Green Climate Fund, while the remaining $2 billion for adaptation funds.<\/p>\n<p>Dahiru noted that the country had also secured an additional $560 million for loss and damage, a fund operationalised as compensation for climate-induced disasters.<\/p>\n<p>He said that since the beginning of the conference, Nigeria had signed Memoranda of Understanding with Siemens of Germany as well as Infracorp to produce solar panels in Nigeria.<\/p>\n<p>This, he said, would create jobs for Nigerians and reduce capital flight.<\/p>\n<p>\u201cWe are proud to announce that on the first day of COP28, Nigeria\u2019s long-term loan initiative strategy was actually launched, and we are depositing with the UNFCCC in fulfilment of the requirement under the Paris Agreement.<\/p>\n<p>\u201cWe have taken the internal stocktake of the climate situation in Nigeria to have a total and holistic picture of the state of climate change action and agree on how best to collectively, in a complimentary manner, work towards achieving this and delivering results on the ground for us that will also assist us.<\/p>\n<p>\u201cCarbon Market Development Framework, which again in this COP28 three days ago, President Bola Tinubu gave a marching order for the activation of the carbon market to take place immediately,\u201d he said.<\/p>\n<p>The NCCC boss refuted reports making the rounds that delegates had come for shopping and sights, saying business at the climate conference was an all-round negotiation to secure commitment and funding for Nigeria\u2019s climate action plan.<\/p>\n<p>\u201cThis will enable Nigeria to attract complementary activities, projects, commitment and funding.<\/p>\n<p>\u201cNo sightseeing and shopping in the agenda of the council; all delegates are engaged in negotiations that will help Nigeria in seeking funding for its climate adaption plan,\u201d he added.<\/p>\n<p>COP28: Nigeria secures over $5bn commitment for adaptation fund<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Government says it has secured more than $5 billion in commitments for its climate action at the ongoing&hellip;<\/p>\n","protected":false},"author":1,"featured_media":5738,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4161,5806,15,6314],"tags":[519,5810,6315,180,406],"class_list":["post-5737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-cop28","category-news","category-salisu-dahiru","tag-business","tag-cop28","tag-dahiru","tag-news","tag-salisu"],"_links":{"self":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/posts\/5737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/comments?post=5737"}],"version-history":[{"count":0,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/posts\/5737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/media\/5738"}],"wp:attachment":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/media?parent=5737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/categories?post=5737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/tags?post=5737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}