Nigeria's Carbon Market Activation Plan
Nigeria is making concerted efforts to grow its carbon market. This policy update highlights some of the recent policy developments in Nigeria's carbon market.
Carbon Market Activation Plan
In February 2024, Nigeria inaugurated a special intergovernmental committee to develop Nigeria’s Carbon Market Activation Plan. The policy objective of the plan is to, with the support of the Africa Carbon Market Initiative (ACMI), create a blueprint for the acceleration of green growth, just energy transition, and standardisation of the carbon market ecosystem in Nigeria, which has an estimated value of $2.5 billion.
https://balogunharold.com/carbon-emissions-trading-in-nigeria-key-considerations-for-investors/
Carbon Mapping in Nigeria
Nigeria is also collaborating with the Indian Government on geospatial mapping, technical expertise exchange, remote sensing, carbon mapping, and auto imagery. Amongst others, the proposed collaboration will leverage India's capabilities in hydrography, remote sensing, and space capabilities due to the satellite coverage of the country for geographical mapping.
https://balogunharold.com/debt-for-nature-swaps-key-commercial-considerations/
Balogun Harold will continue to monitor policy and regulatory developments in this area. For additional enquiries, please reach out to your usual Balogun Harold contact or via support@balogunharold.com
Olu A.
LL.B. (UNILAG), B.L. (Nigeria), LL.M. (UNILAG), LL.M. (Reading, U.K.)
Olu is a Partner in the Firm’s Transactions & Policy Practice. Admitted as a Barrister & Solicitor of the Supreme Court of Nigeria in 2009, he has spent over a decade advising clients on high-value transactions and policy matters at some of Nigeria’s leading law firms.
olu@balogunharold.com
Kunle A.
LL.B. (UNILAG), B.L. (Nigeria), LL.M. (UNILAG), Barrister & Solicitor (Manitoba)
Kunle is a Partner in the Firm’s Transactions & Policy Practice. Admitted as a Barrister & Solicitor of the Supreme Court of Nigeria in 2009, he has spent over a decade advising clients on high-value transactions and policy matters at some of Nigeria’s leading law firms.
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