Africa: The Potential Global Leader in Green Manufacturing

As the leader of Nigeria, a nation with a population exceeding 200 million, I am responsible for guiding the country.

As Chair of the Economic Community of West African States (ECOWAS), I oversee a region that is facing security threats and socioeconomic challenges. The correlation between these critical issues and climate change was a top priority for me during my attendance at the COP28 World Climate Action Summit in Dubai, United Arab Emirates.

COP28 was a significant moment as it saw the inaugural Global Stocktake to assess the implementation of the Paris Agreement. This comprehensive review allows each country to evaluate its progress in reducing emissions and meeting climate goals.

Despite facing obstacles such as the COVID-19 pandemic, economic reforms, and unifying foreign exchange rates, Nigeria, the largest economy in Africa, remains committed to building a cleaner and better nation.

In order to honor our legal obligation to a more sustainable world, Nigeria has launched the Nigerian Carbon Market Initiative at COP28 by joining the African Carbon Market Initiative.

The recent release of the Intergovernmental Panel's Sixth Assessment Report highlights the insufficiency and sluggishness of global actions against climate change. It is evident that developing nations, despite their minimal contribution to the issue, bear the brunt of its impacts.

Nigeria already owes billions of dollars in debt and grapples with high inflation a cost-of-living crisis.

PIUS UTOMI EKPEI/AFP/AFP/Getty Images

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We all desire to address the issue, but not enough of us are ready to contribute our fair share at this time. The swift depletion of water resources and the increasing desertification are directly linked to the Sahel crisis, marked by the rise of extremist and authoritarian forces.

The alarming depletion of 90% of Lake Chad over the past thirty years serves as a clear illustration of this. We urgently call for international cooperation in funding and technological assistance to fully restore and rejuvenate this crucial water resource. Through unified action, we can prevent the desert from encroaching on Nigeria's expansive farmland, displacing communities, and triggering food shortages and social upheaval that frequently lead to violence.

Southern Nigeria faces the threat of rising ocean levels, leading to devastating flooding that claims the lives of countless civilians and destroys farmlands, towns, and villages. This has resulted in thousands of people being left homeless. In response, Nigeria has taken important steps by enacting the Climate Change Act and pledging to achieve net-zero emissions between 2050 and 2070.

Nevertheless, persistent challenges arise as conflicts in Europe and the Middle East have led to energy and food crises, dampening the support of wealthy nations for less developed economies. This impedes the efforts of these countries to implement detailed and achievable plans for achieving net zero emissions.

The largest nation in Africa has effectively rallied tens of thousands of youth across the country to annually plant 250,000 trees, in line with a commitment to plant 25 million trees by 2030. This initiative is part of our efforts to construct a large green barrier to combat the encroaching desert in the northern region of our nation.

Recently, we have entered into an agreement with a German energy company to significantly transform flared gas into high-quality natural gas exports to Europe. This is crucial in decreasing one of the primary ways in which the country contributes to global greenhouse gas emissions.

During COP28, I participated in a panel with COP28 President Sultan Al-Jaber, US Special Presidential Climate Envoy John Kerry, and Chinese Climate Envoy Xie Zhenhu, where I pledged Nigeria's commitment to eliminating methane and other non-CO2 greenhouse gases. I emphasized our preparedness to lead Africa's initiatives in decarbonizing the global economy.

During the G20 Summit in Berlin last month, I declared Nigeria's pledge to establish blue and green hydrogen capacity for global export. I further cemented this commitment in discussions with oil producers from the Middle East. Our next step is to rally private investment, with backing from initiatives such as the Climate Finance Leadership Initiative and the new global infrastructure programs from the US and EU.

Nigeria, Africa's top oil producer, is actively pursuing the development of its plentiful wind and solar resources alongside its traditional reliance on fossil fuels. Despite the challenges, the Nigerian Energy Transition Plan (NETP) has been put in place to guide this transition. This comprehensive strategy aims for net-zero emissions in key sectors such as power, cooking, oil & gas, transport, and industry, requiring a $10 billion annual investment until 2060.

We recognize the importance of partnerships in building a new green economy in Africa. We are eager to explore the potential resources offered by the European Union's Global Gateway program and the US Build Back Better World initiative.

In addition, we are seeking to diversify our economy by engaging in healthy competition with Russia in supplying energy to European markets. We are heavily investing in natural gas and green energy to achieve this goal.

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African countries cannot navigate this path unaided. A fair and collaborative approach is essential. Many developed nations have delayed taking necessary action for too long.

But the era of passivity is behind us. Developed nations must fulfill their commitments by making substantial contributions to the Loss and Damage Fund and the $100 billion annual climate financing pledge.

At the Africa Climate Summit in Kenya in September, African countries united in embracing the Climate Positive Growth paradigm. The vision is for Africa to emerge as the world's top green manufacturing hub, supported by targeted financial assistance and access to global markets.

Nigeria and other African nations have a distinct advantage - there is no need to decommission coal-fired power plants. This presents an unprecedented opportunity to bypass traditional high-emission industry and instead build our industrial future on a new, environmentally friendly foundation.

The world is at a critical juncture, with a clear decision to make: continue with the current economic status quo or take real action to reduce harmful emissions. Now is the time to prioritize equity and justice in the global economy, correcting past injustices, preserving the planet, and building a brighter future for everyone.

It is time to seize the moment.