Vice President Spearheads Billion-Dollar Carbon Market in Africa

The Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Laolu Akande, has revealed that the Federal Government is pioneering a voluntary billion dollars’ worth of Carbon Market on the continent.

Akande said it is an innovative climate change solution that will create, millions of new jobs in Nigeria alone over the period of the energy transition, according to estimates of the international experts, adding that the initiative is part of the efforts of the Federal Government to attain the global net-zero emissions target.

Vice president Professor Yemi Osinbajo is a member of the recently-formed International Steering Committee for the Africa Carbon Markets Initiative ACMI, with the objective of facilitating the emergence and growth of the market in Africa.

Other members of the Committee of the ACMI, which would be announced early in November at the COP27 meeting in Egypt, are former President of Colombia, Ivan Duque Marquez, and President of the African Development Bank, Akinwumi Adesina.