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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.

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CBN orders banks to reverse failed ATM transactions immediately

The requirement will be implemented gradually over three years, with banks expected to meet 30 percent of the threshold in 2026, 60 percent in 2027 and full compliance by 2028.

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The Central Bank of Nigeria (CBN) has directed banks to immediately reverse failed automated teller machine (ATM) transactions.

The apex bank said that the revised framework is designed to strengthen ATM service reliability, improve fraud monitoring, enhance security and ensure stronger consumer protection across Nigeria’s fast-growing digital payments ecosystem., tightening rules aimed at improving consumer protection and reliability across the country’s payment infrastructure.

Beyond refund timelines, the regulator introduced new requirements for ATM deployment nationwide.

All card issuers are required to deploy at least one ATM for every 7,500 payment cards issued.

The requirement will be implemented gradually over three years, with banks expected to meet 30 percent of the threshold in 2026, 60 percent in 2027 and full compliance by 2028.

Under new Guidelines on the Operations of Automated Teller Machines in Nigeria, the apex bank said failed “on-us” ATM transactions, where a customer uses the ATM of their own bank, must be reversed instantly. Where an instant reversal fails due to technical issues or system glitches, banks are required to complete a manual reversal within 24 hours.

For failed “not-on-us” transactions, where a customer uses another bank’s ATM, the refund timeline must not exceed 48 hours.

The guidelines also state that automated reversals for on-us transactions should occur in less than five minutes, while not-on-us transactions should be resolved in less than 15 minutes where automated systems function properly.

The CBN added that in cases where transaction failures arise from biometric mismatch or device errors, ATM operators must provide an immediate fallback to non-biometric verification where it is considered safe.

Such events must also be logged for diagnostics while the stipulated refund timelines are maintained.

The Central Bank also directed that ATMs must be located within reasonable proximity to one another across both urban and rural areas, while deployment, relocation or decommissioning of machines must receive prior written approval from the regulator.

The guidelines also set operational and service benchmarks for ATM operators.

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Nigeria Ranks 14th out of 50 Most Agricultural Land globally

The ranking highlights where the world’s largest agricultural footprints are located, spanning major producers across Asia, Africa, and the Americas.

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Nigeria has been ranked the fourteenth country among the top 50 Most Agricultural Land in the world.

Agricultural land spans more than 18 million square miles worldwide, forming the foundation of global food production.

In a data analysed by Visual Capitalist using the most recent FAO data compiled by the World Bank, China has the most agricultural land in the world, with roughly 2.0 million square miles.

The United States (1.6 million), Australia (1.4 million), Brazil (914,000) and Russia (832,826) round out the top five countries worldwide.

Each of these countries specialises in different crops.

For example, the U.S. is the world’s largest producer of corn, while Brazil is the top grower of both soybeans and sugarcane.

Meanwhile, Australia has overcome its mostly arid geography to become a major wheat and cereals grower, rivaling major producers like India (689,000) and Ukraine (160,000).

In the data, Asia and Africa account for a large share of the top 50 countries by agricultural land area.

African countries make up nearly half of the top 50 countries worldwide by square mileage of agricultural land area. They’re led by larger countries like Sudan (435,000), South Africa (372,000), and Nigeria (268,000).

The ranking highlights where the world’s largest agricultural footprints are located, spanning major producers across Asia, Africa, and the Americas.

Each of these countries specializes in different crops.

For example, the U.S. is the world’s largest producer of corn, while Brazil is the top grower of both soybeans and sugarcane.

Meanwhile, Australia has overcome its mostly arid geography to become a major wheat and cereals grower, rivaling major producers like India (689,000) and Ukraine (160,000).

Africa’s Growing Desert ProblemAfrican countries make up nearly half of the top 50 countries worldwide by square mileage of agricultural land area.

They’re led by larger countries like Sudan (435,000), South Africa (372,000), and Nigeria (268,000).

As with peers in Eurasia and the Americas, African agriculture is increasingly facing challenges from climate change.In particular, the growing desertification problem is reducing countries’ agricultural land, especially in the Sahel region, as temperatures rise and soil becomes less fertile for growing crops.

Over-farming and over-grazing are exacerbating regional soil erosion and deepening desertification.

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Brent crude surges to $104 amid escalating Iran conflict

U.S. President Donald Trump said over the weekend that he was demanding other countries help to protect the key maritime corridor, adding that he was in conversation with several allies about securing the strait.

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Oil prices rose on Monday morning as the Trump administration ramps up pressure on allies to help safeguard the Strait of Hormuz and investors react to threats facing Middle East export facilities.

According to CNBC, international benchmark Brent crude futures with May delivery traded 1.5% higher at $104.72 per barrel, paring earlier gains, while U.S. West Texas Intermediate futures with April delivery advanced 0.3% to $98.91.

U.S. crude had surpassed $100 earlier in the session.

Both contracts have surged more than 50% over the past month, reaching their highest levels since 2022, as shipping traffic through the Strait of Hormuz has been severely disrupted.

Brent closed above $100 for the first time in four years last week.

The narrow waterway is a critical energy choke point that typically carries roughly 20% of the world’s oil.

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