Abuja:Mrs. Omotenioye Majekodunmi, Director-General of the National Council on Climate Change (NCCC), has emphasized the need for stronger carbon verification to increase the credibility and integrity of Nigeria’s carbon market. Represented by Mr. Michael Ivenso, Director of Energy, Transportation, and Infrastructure at the NCCC, Majekodunmi made this call during a high-level roundtable on carbon markets organized by the NCCC and the European Union Climate Dialogues.
According to News Agency of Nigeria, Majekodunmi highlighted the importance of translating Nigeria’s climate ambitions into verifiable actions that support sustainable economic growth and attract climate finance. She noted that the National Carbon Markets Framework has established the necessary institutional and regulatory architecture to govern carbon activities in Nigeria.
The NCCC is in the process of operationalizing a unified national carbon registry and promoting digital Measurement, Reporting, and Verification (MRV) systems using advanced technologies such as remote sensing and IoT sensors. This is aimed at improving accuracy and strengthening collaboration among various stakeholders to create bankable projects and enhance local verification capabilities.
Jop Weterings from the European Commission discussed the EU’s target to cut emissions by 40% by 2040, which includes domestic reductions and international carbon credits. He emphasized the need for quality and transparency in carbon markets and noted the potential benefits of EU-Nigeria cooperation in strengthening market integrity.
Mrs. Halima Bawa-Bwari from the Ministry of Environment urged Nigeria to improve its forest inventories and monitoring systems, advocating for the integration of satellite technology and artificial intelligence in carbon monitoring. She stressed the importance of reliable and verifiable data for carbon markets.
Ms. Yolanda Jose of the EU Delegation to Nigeria reiterated the need for robust systems to ensure transparency and accountability in carbon markets. She expressed the EU’s commitment to supporting Nigeria’s framework and enhancing MRV practices.
Mr. Huzi Mshelia of the Nationally Determined Contributions partnership highlighted the importance of robust MRV systems in building trust and investor confidence. He underscored the necessity of aligning climate actions with national development priorities and strengthening Nigeria’s MRV system on a global scale.