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Nigeria pursuing climate-smart practices for food security — Tinubu

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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

MAN Tells FG: “Don’t Reduce Tariffs on U.S. Goods”

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” While the U.S. may frame this as a step toward “fair trade,” the reality is that lowering tariffs on U.S. imports could flood the Nigerian market with subsidized goods, thereby undermining local producers.”

The Manufacturers Association of Nigeria (MAN) has called on the Federal Government not to bow to potential pressure to reciprocate by reducing its own tariffs on U.S. goods entering the Nigerian market.

MAN, in its position document on the new U.S. tariff imposed on Nigeria by President Donald Trump’s administration, said :

” While the U.S. may frame this as a step toward “fair trade,” the reality is that lowering tariffs on U.S. imports could flood the Nigerian market with subsidized goods, thereby undermining local producers.

Segun Ajayi-Kadir, the MAN Director-General, emphasized that this is especially troubling given the weak state of Nigeria’s infrastructure, logistics, and energy supply—all of which already place local manufacturers at a disadvantage.

He said: ” Another key concern is the risk of policy diversion.

Nigeria has, in recent years, made commendable strides toward achieving self-sufficiency in several manufacturing segments and diversifying away from oil. However, succumbing to external pressures to liberalize trade prematurely would reverse these gains.

Instead of supporting domestic production, such actions would signal to investors and industrialists that Nigeria lacks a coherent long-term trade and industrial policy.”

Projects Fall in Export Revenue by N1 to N2 Trillion

Commenting on the broader impacts of Trump’s tariff on the domestic industries, he referenced the National Bureau of Statistics:” Agricultural exports accounted for over N4.42 trillion in 2024, with the U.S. being one of the top destinations.

The tariff could potentially wipe out N1 to N2 trillion of that figure annually.

As export revenues fall, many companies may reduce their production scale or downsize their workforce to cut costs.

Contract manufacturers, small-scale industrialists, and firms operating in special economic zones targeting the U.S. market are likely to be worst hit.

Nigerian firms that are part of regional or global supply chains—particularly in pharmaceuticals, chemicals, foods, beverages, and motor vehicle assembly—stand to lose their competitive edge as their products become less attractive to U.S. companies seeking sourcing partners.”

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MTN and Meta Improve WhatsApp Call Quality

Nigeria is the first country to roll out these enhancements, and early results show a 50 percent improvement in key performance indicators, signaling a major boost in user experience for MTN Nigeria customers.

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MTN Group says that its partnership with Meta has significantly enhance the quality and reliability of voice and video calls on real-time apps like WhatsApp.

CTO of MTN Nigeria, Yahaya Ibrahim, said that the collaboration spans 12 MTN markets and aims to elevate user experience through smarter, more efficient network performance.

He explained that the initiative focuses on optimizing how mobile networks and real-time calling apps interact, resulting in more stable and high-quality calls.

“Since MWC 2024, MTN and Meta engineers have worked together to identify performance gaps and deploy targeted network upgrades using data analytics and extensive testing.

Nigeria is the first country to roll out these enhancements, and early results show a 50 percent improvement in key performance indicators, signaling a major boost in user experience for MTN Nigeria customers.

“This rollout underscores our commitment to delivering innovative digital experiences.

We’re excited about the improvements our users are already seeing in call quality,” he said.

Meta’s Head of Network Ecosystems Engineering, Diego Marí, added that ‘this partnership demonstrates how we can deliver superior real-time communication while continuing to optimize network efficiency.

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CBEX: Nigerians lose N1.3tn as digital trading platform crashes

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Nigerians have taken to their various social media platforms to lament their losses after a digital asset trading platform, known as CBEX, allegedly swept over N1.3 trillion from investors’ accounts on Monday.

This comes as CBEX, operating without legal approval from the Nigeria Securities Commission, crashed on Monday after the money in their investors’ wallets vanished.

The digital platform also locked its Telegram channels and postponed withdrawals while offering investors the option of $2,000 for $200 verification and $1,000 for $100 verification.

The development has sparked condemnations from Nigerians on X.

Explaining the CBEX crash, cryptocurrency expert and security analyst Taiwo Owolabi said the total volume of stolen investors’ funds so far in USDT is $847 million and likely to increase.

Owolabi questioned why Nigerians would invest their money in a digital platform that is unregistered by the SEC with the promise of a 100 percent return on investment.

They designed the weak website to convince people in the future that it was a security breach that affected them.

Apparently, when you make payments, you pay them into a TRX account, and then, immediately, they move it from that TRX wallet, gather it, convert it to USDT, and then to ETH. So, when you are logging into your account, there is literally no money on your profile.

“What you see are just numbers. All the daily activities you do to ‘trade’ increase your money. All the AI trading is fake. When it’s time for withdrawal, they will send you another person’s money,” Owolabi explained on an X space.

Similarly, Steve Fred, a user on X, wrote on Tuesday:

“Are we not just fantastically stupid in Nigeria?

“Nigerians are as gullible as their leaders. How many times will they be scammed before they have sense?

“How can a company like ‘CBEX’ just appear from thin air and promise you 100 percent ROI in 1 month, and you begin to invest?”

Another user, known on X as Oku, reacting to the CBEX crash, said: “The smaller the profit, the more I TRUST YOU.

“You have no business doing a business that promises you 50 percent to 100 percent ROI.

”The development comes after the SEC recently warned Nigerians to stay clear of unregistered trading platforms.

The SEC particularly pointed out that, in accordance with the ISA 2025 recently signed by President Bola Tinubu, it is now an offense for any entity to operate an online forex trading platform or provide related services without prior registration with the commission.

“By virtue of this act, it is an offense in Nigeria for any entity that is not registered by the commission to carry out the business of online foreign exchange trading platforms or related services.

“Any business entity planning to set up a business in any of these areas is advised to visit the HOD DRM Department of the commission for further direction on how to register with the commission to avoid sanctions,” it added.

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