Business
Nigeria pursuing climate-smart practices for food security — Tinubu
President Bola Tinubu on Wednesday reaffirmed his administration’s commitment to implementing climate-smart agricultural practices to bolster food security and reduce environmental impacts.
He said such initiatives stem Nigeria’s recognition of its responsibility to lead a just energy transition and sustainable development in Africa.
Tinubu said this during his address at the ongoing Abu Dhabi Sustainability Week held in the capital city of the United Arab Emirates.
In his 12-minute discourse titled ‘Climate Imperatives into Economic Prosperity, bridging Africa’s Global Energy Future,’ the President emphasised the need for international cooperation to achieve sustainable development and mitigate climate change impacts.
Acknowledging Nigeria’s status as Africa’s most populous nation and one of its largest economies, President Tinubu underscored its responsibility to demonstrate leadership in addressing climate issues.
He posited, “To succeed, we must innovate, collaborate, and decide decisively to collaborate as a global community.
As Africa’s most populous nation and one of its largest economies, Nigeria recognizes its responsibility to demonstrate the required leadership on these matters.
“We have embraced the vision of sustainability and that alliance of global aspiration while addressing the local realities.
Our efforts are anchored on three pillars: energy transition, climate resilience, and sustainable development.
“In my administration, we recognise this problem. From inception, we have recognised the importance of reducing carbon emissions and a just transition to clean and renewable Energy, promoting environmental sustainability and economic growth energy transition.
”Addressing the specifics of Nigeria’s energy transition plan, he stated that Nigeria is employing climate-smart agricultural practices to bolster food security while reducing environmental impacts.
“Nigeria is implementing climate-smart agricultural practices to enhance food security while reducing environmental impacts.
“The government has approved several development policies, such as the national clean cooking gas policy, which aims to promote a clean energy environment and its benefit and socioeconomic development in our region,” said Tinubu.
He opined that adopting modern, eco-friendly agricultural techniques is essential for protecting local communities from the adverse effects of climate change.
Describing these measures as pillars of Nigeria’s sustainable development strategy, he stressed that the country’s path forward involves responsibly reducing carbon emissions while advancing economic growth and ensuring social equity.
Like many nations, he said Nigeria is diversifying its energy sources and reducing its reliance on fossil fuels.
This transition to cleaner alternatives anchors the country’s national development strategy and aligns with a commitment to achieve net-zero emissions by 2060.
Nigeria is developing infrastructure for compressed natural gas and electric vehicles to support these goals. He noted that the government has also invested in responsibly exploring solid minerals and critical metals essential for advancing the green energy transition.
His words, “Dear delegates and excellencies, our energy transition plan, like many nations, is aimed at diversifying energy sources and reducing our dependency on fossil fuel, prioritising the transition to cleaner energy sources as a cornerstone of our national development strategy.
“Nigeria is committed to achieving a net zero emission by 2060 in line with global climate objectives; we are developing the infrastructure to utilise compressed natural gas and electric vehicles.
”He said development policies, such as the National Clean Cooking Gas Policy, are designed to promote clean energy, environmental benefits, and socioeconomic development in the region.
Emphasising inclusivity, he highlighted efforts to ensure policies promote equity and social justice, leaving no one behind.
The President also acknowledged Nigeria’s environmental challenges—including deforestation, desertification, coastal erosion, flooding, pollution, and other harmful consequences of climate change—and cited the shrinking Lake Chad as a stark example.
“Lake Chad continues to shrink every year, and the livelihood of people continues to be threatened. Our government is working with local communities to implement solutions to get these effects and help us build resilience in the face of environmental challenges.
“For resources to promote a green economy in Africa, we must focus on integrating sustainable practices in all sectors of our economy.
“These investments are capital intensive in nature, and they required international support from partner countries, including national organisations, developmental partners, and individuals who shared our vision of a sustainable, prosperous, and equitable future must be included,” said Tinubu.
President Tinubu also noted that Nigeria became the first African country to fund green projects through Sovereign Green Bond issuances—its third issuance is underway—and he invited investors to collaborate further.
He explained, “Nigeria became the first country in Africa to initiate funding for green projects through green bond proceeds, the third issuance of which is currently in progress; we urge investors to partner with us.
“In this regard, our government remains committed to providing an enabling environment for businesses to thrive, and harnessing technology and innovation is key to driving sustainable development.
”The President emphasised that technological innovation is vital for advancing sustainable development, citing Nigeria’s growing adoption of new technologies in clean energy, water conservation, land restoration, waste management, and the circular economy.
“We agree that Nigeria is increasingly embracing new technologies like clean energy, water, conservation, land and forest restoration, waste management, and circular economy.
“We partner with global leaders and are harnessing the power of technology. We are finding new and innovative ways to address our environmental challenges.
“We have arable agricultural lands for advanced technological farming, including the brighter future for artificial intelligence,” the Nigerian leader noted.
Through global partnerships and the strategic use of technology, he said Nigeria seeks innovative ways to address environmental challenges and secure a brighter future, including AI-driven agricultural practices.
On global collaboration, he reminded attendees that environmental challenges are shared worldwide.
Practical solutions, he argued, require collective action grounded in mutual respect and a shared vision of the future.
Nigeria believes sustainable development is not merely a domestic challenge but a global imperative.
Tinubu urged the international community to strengthen cooperation at regional and global levels to meet the Sustainable Development Goals and lessen the impact of climate change.
In closing, President Tinubu reflected on the lasting impression of the children who, on the first day of the event, waved the UAE flag in a call for all to protect the planet for future generations.
He expressed hope that this image would serve as a reminder of the responsibility to build a sustainable world for the children and generations yet to come.
The Nigerian leader also expressed profound gratitude to the President of the United Arab Emirates, Sheikh Mohammed bin Zayed Al Nahyan, for the invitation to Abu Dhabi Sustainability Week.
The meeting drew world leaders together to collectively exchange views and perspectives on addressing global challenges.
Aside from President Tinubu, other leaders attending the summit are Italian Prime Minister Georgia Melon; President of Rwanda Paul Kagame; Prime Minister of Malaysia Anwar Ibrahim; Prime Minister of New Zealand Christopher Luxon; and Prime Minister of Finland, Petteri Orpo, among others.
Business
Obi Meets UK Business Leaders, Advocates Stronger Support for MSMEs
Presidential hopeful of the National Democratic Congress (NDC), Mr. Peter Obi, has reiterated the critical role of micro, small, and medium-sized enterprises (MSMEs) in driving Nigeria’s economic growth and reducing unemployment.
Obi made the remarks on Tuesday following a series of meetings in London with stakeholders in British politics and the business community, including Jonathan Marland, Chairman of the Commonwealth Enterprise and Investment Council (CWEIC).
According to Obi, discussions with Lord Marland focused on prospective trade opportunities, economic advancement, and strategies for promoting small businesses across Nigeria.
Drawing comparisons with rapidly developing economies such as China, Indonesia, and Vietnam, Obi stressed that sustainable economic growth and job creation can only be achieved through deliberate support for MSMEs.
The former Anambra State governor maintained that small businesses remain the backbone of the economy and called for stronger policies aimed at boosting development and creating employment opportunities, particularly in the agriculture and manufacturing sectors.
Business
What President Tinubu Tells World Leaders At Nairobi’s Summit
“Every single dollar that leaves our treasury to pay punitive interest rates is a dollar that did not go into our steel sector, textile mills, agro-processing plants or digital industries,” the President stated.
President Bola Tinubu has called for a major shift in Africa’s economic structure, insisting that the continent must stop exporting raw materials and start building industries capable of competing globally.
Tinubu spoke on Tuesday at the Africa Forward Summit in Nairobi, Kenya, where he led Nigeria’s delegation of top government officials and private sector leaders to discussions on industrialisation, trade and economic development across Africa.
The President said Africa’s continued dependence on exporting crude oil, minerals and agricultural commodities while importing finished products was damaging local industries and slowing economic growth.
“We export raw minerals, crude oil and agricultural commodities, and we import processed goods at a premium.
This pattern is not an accident. It is the product of a global financial architecture that starves our industries of affordable capital,” Tinubu said.
He argued that African countries still face unfair borrowing conditions despite implementing difficult economic reforms aimed at stabilising their economies and attracting investment.
According to him, Nigeria’s recent reforms, including fuel subsidy removal, exchange rate unification and banking recapitalisation, were necessary steps taken to reposition the economy for long-term growth.
“Every single dollar that leaves our treasury to pay punitive interest rates is a dollar that did not go into our steel sector, textile mills, agro-processing plants or digital industries,” the President stated.
Tinubu also used the summit to promote Nigeria’s maritime and blue economy potential, pledging stronger regional cooperation through the country’s Deep Blue Project to improve security in the Gulf of Guinea.
“Secure sea lanes, predictable regulation and functional courts are the preconditions that unlock private capital.
Nigeria is ready to work with other Gulf of Guinea states through shared maritime intelligence and coordinated enforcement,” he said.
Business
France Mobilises €23bn Private Capital For Investments In Africa
Nigeria’s President Bola Tinubu participated in the gathering, which observers described as a major diplomatic and economic engagement aimed at deepening Africa-France cooperation.
•Photo: French President Emmanuel Macron attends the Africa Forward Summit 2026 at the Kenyatta International Convention Centre (KICC), in Nairobi, Kenya, May 12, 2026. REUTERS/Monicah Mwangi.
French President Emmanuel Macron said yesterday France had mobilised €23 billion ($27.01 billion) during the African Forward Summit in Nairobi for investments in Africa, to develop new partnerships in Africa after seeing its influence fade in former colonies in West Africa.
More than 30 African leaders, as well as heads of multilateral financial institutions and business executives from across Africa and France, are attending the Nairobi summit, the first France has held in an English-speaking country.
Macron said that rather than African leaders borrowing to fund infrastructure development, he supported creating a first-loss guarantee mechanism to de-risk investments on the continent and would lobby for the idea at the G7 summit next month.
The summit, co-hosted by France and Kenya, has brought together more than 30 African heads of state, global investors, financial institutions and development partners to discuss issues ranging from climate financing and energy transition to digital transformation and industrial growth.
Nigeria’s President Bola Tinubu participated in the gathering, which observers described as a major diplomatic and economic engagement aimed at deepening Africa-France cooperation.
U.N. Secretary-General Antonio Guterres noted that African countries face borrowing costs that are twice as high on average as advanced industrialized economies.”That is not a market verdict on Africa. It is a verdict on the injustices of the system,” he told the summit.
Decrying what they say are biases against them that overstate the continent’s risk, African governments have called for changes to the methodologies used by credit ratings agencies.
Major agencies including S&P Global Ratings, Moody’s and Fitch reject accusations of regional bias, saying their ratings are based on globally applied, publicly disclosed criteria.
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