By Abdul-Ganiyy Akanbi

In a bid to make climate action a core part of his Renewed Hope Agenda and Nigeria as an active player in the global climate economy, President Bola Tinubu has approved over $3.8 billion worth of investment in the carbon market.

Specifically, the President has endorsed the Carbon Market Framework for Nigeria with a view to unlocking billions of dollars in green investments.

The Carbon Market Framework operates under the National Council on Climate Change, NCCC, an agency established by the Climate Change Act of 2021 and domiciled in the Presidency with the President as Chairman of the Council, while the Vice President serves as the Vice Chairman.

The approval, according to the Director General of the National Council on Climate Change, NCCC, Mrs. Omotenioye Majekodunmi, has proven that Nigeria is now fully open for climate business.

Majekodunmi, who spoke with journalists in the United Arab Emirates on the sidelines of the Abu Dhabi Sustainability Week, noted that the carbon market presents opportunities across several sectors, including renewable energy, clean cooking, reforestation, climate-smart agriculture and sustainable infrastructure.

She added that the approval provides a clear regulatory and institutional structure for carbon trading in Nigeria, enabling both local and international investors to develop and finance climate-friendly projects while earning carbon credits.

“With the final approvals in place, Nigeria is officially ready to do business. We are now positioned to begin seeing real returns. The carbon market alone is valued at over $3.8 billion in potential investments annually,” she hinted.

The director general also revealed that Nigeria has already shown strong interest in carbon-related projects, stressing that since initial approvals were granted in October, the Council has received between 3,000 and 4,000 applications.

Majekodunmi also pointed out that Nigeria’s participation at the Abu Dhabi Sustainability Week is part of efforts to deepen international partnerships, particularly with the United Arab Emirates.

She said: “We see a lot of potential for collaboration in renewable energy, sustainable finance, climate technology, and carbon markets. And as such, the Abu Dhabi Sustainability Week provides the right platform to be able to deepen this relationship and this partnership to get real impact.”

The director general added that technology transfer, innovation and local capacity development remain key priorities, with plans to strengthen Nigeria’s capabilities in clean energy systems, agriculture and climate-resilient infrastructure.

Earlier in his remarks, the Minister of Environment, Malam Balarabe Abbas Lawal, stated that Nigeria’s active participation at the Abu Dhabi Sustainability Week underscores the Federal Government’s commitment to deepening international partnerships—particularly with the United Arab Emirates—across renewable energy, sustainable finance, climate technology, and carbon markets.

He further emphasized Nigeria’s focus on technology transfer, innovation, and local capacity development to strengthen clean energy systems, climate-smart agriculture, and resilient infrastructure nationwide.

By Our Correspondent

Ebonyi state government has lamented loss of billions dollars following the abandonment of Nigercem Cement factory for over 20 years resulting to the loss of huge revenue to the state, noting that the limestone deposits in the area remain viable for hundreds of years.

The state government noted that Nigercem Plc, has remained dormant for more than two decades despite Ibeto Group holding about 30 per cent controlling shares in the company.

The Chairman, Committee on revitalisation of Nigercem Plc setup by Governor Francis Nwifuru, Engr. Ben Okah said the original agreement was that the cement plant would be rebuilt within three years of the acquisition, but nothing substantial has happened nearly 20 years later.

Okah said the prolonged inactivity had left the host communities, the state government and even investors without any benefit from Nigercem, despite the huge economic potential of the limestone deposits in the area.

“Nigercem today is like a forest.Assets have been stripped to the bare. Cables have been dug up, equipment removed, and the place is now inhabited by rats and snakes. Some former staff have not been paid for over 20 years—no compensation, no pension, nothing”, he lamented.

He described the situation as “hopeless” and stressed that the state government remains willing to support Ibeto Group to revive the company.

Okah disclosed that the government has been in dialogue with Ibeto Group for about seven months, including visits to the investor’s office in Port Harcourt, but said there were no signs of renewed activity at the Nigercem site.

He explained that the state’s decision to establish its own cement factory was driven by the high cost of cement, which is currently transported from distant states such as Ogun and Cross River.

According to him, the cost of cement has continued to hamper infrastructure development in the state.

“Whether Nigercem is working or not, the state wants to build its own cement factory,” he said, assuring that the government has no intention of infringing on Nigercem’s limestone deposits.

On concerns over the proposed ₦150 billion budgeted for the new cement plant, Okah said advances in technology have significantly reduced the cost of building cement factories.

He noted that the dry method of cement production has become the norm and is far cheaper than older technologies.

He added that the project would not be purely state-driven, revealing that private investors are already on standby to participate, and expressed confidence that cement production could commence within one to two years

By Our Correspondent

Apparently angry with the delay in completion of Mararaba–Keffi Expressway,Minister of Works, Engr David Umahi on Friday directed the contractor handling a 43-kilometre section of the Mararaba–Keffi Expressway, China Harbour Engineering Company, to complete and hand over the project on or before February 28, 2026.

Umahi gave the order on Friday at an inspection tour of the ongoing Mararaba–Keffi road expansion project, instructing the contractor to submit a detailed work timetable and a written commitment to deliver the project by the end of February.

The Minister also directed the company to immediately remove the hand-moulded caps along the road and commence concreting of the median, while ensuring the installation of solar-powered streetlights across the entire 43km stretch.

Umahi expressed worry over the contractor’s failure to comply with earlier directives, attributing the lapse to negligence by officials of the Ministry assigned to the project site.

He said: “I am giving you the end of February to hand over this job. You must come to my office on Wednesday with your timetable and a commitment to complete the project by then.

“We directed that these hand-moulded caps be removed. I have been here more than eight times. Now the problem is my staff, and today I will set an example of what 2026 will be like for all of us in doing this job.”

The minister emphasized that ministry officials on site possess the authority to enforce directives issued by the minister or his representatives, noting that failure by a contractor to comply should attract denial of certificates or prompt escalation to the Permanent Secretary, Head of Department, or the minister himself.

He therefore ordered the immediate removal of a Controller of Works, whom he accused of issuing fraudulent certificates that led to payments for uncompleted jobs.

“Today, I am directing the Permanent Secretary to remove the Controller with immediate effect and send him to my office to learn how to obey instructions. Another Controller should be redeployed immediately to take over,” he said.

Umahi alleged that the same official had earlier issued certificates for palliative works that were not executed, resulting in undue payments.

Reading the riot act to ministry staff, Umahi declared 2026 an “action year,” warning that indiscipline and negligence would no longer be tolerated.

According to him: “Nobody will be spared. Discipline is our watchword. Diligence is our watchword. Doing the work we are paid to do is our watchword.

“When action is taken, no amount of pleading will reverse it. I report directly to Mr. President.”

The minister enjoined ministry staff and contractors to discharge their duties responsibly in the interest of Nigerians, adding that sanctions imposed on erring officers would stand, except reversed by God Almighty or the President.

He said: “I need your prayers. I will have many fights, but I am not afraid of any.”

During the inspection, the Minister also made stopovers at several points along the corridor, including the Keffi flyover.