Nigeria is spearheading efforts to prioritise local value chain development in the Global South.
The initiative was highlighted during a recent virtual meeting between Nigeria’s special presidential envoy on Climate Action, Ajuri Ngelale and Denmark’s special climate envoy, Tomas Anker Christensen.
During the talks, Ngelale presented President Bola Tinubu’s green industrial vision, emphasising Nigeria’s commitment to drive climate action while boosting local economies.
The Nigerian envoy stressed the importance of de-risking capital formation and localising value chains as key components of effective climate finance strategies.
“We’re pushing for a paradigm shift in how climate finance is approached. It’s not just about funding, it’s about creating sustainable, local economic opportunities while addressing climate challenges,” he said.
The discussion resulted in an agreement to develop a framework for real-time monitoring of climate action programs, ensuring transparency and effectiveness in implementation.
The approach aims to make climate investments more attractive and impactful, particularly in developing nations.
Nigeria’s push for local value is already evident in its domestic initiatives. The country is making strides in decarbonizing its telecommunications infrastructure, a move that promises significant emissions reductions and job creation.
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