Calls for Africa-driven initiatives at the Nigeria Climate Change Forum

African nations have been urged to take ownership of their climate action priorities in response to the escalating economic strain caused by climate shocks.

As rapid technological advancements and evolving international cooperation reshape the global climate landscape, African-led solutions are more critical than ever.

At the recently concluded Nigeria Climate Change Forum in Abuja, speakers emphasized the urgent need for robust, locally driven strategies to tackle the climate crisis while fostering sustainable development across the continent.

Delivering a keynote address, Joseph Murabula, CEO of the Kenya Climate Innovation Center (KCIC), stressed the pivotal role of technology and innovation in scaling climate solutions and accelerating green economic growth.

"We must build a diversified local funding ecosystem to empower climate entrepreneurs because debt financing alone is neither prudent nor sustainable for startups in this space. Targeted policy incentives will also be instrumental in overcoming financing barriers and unlocking market challenges," Murabula noted.

He further underscored the importance of cross-border collaboration, advocating for innovation ecosystems, knowledge sharing, and leveraging the African Continental Free Trade Area (AfCFTA) to catalyze business growth in the green economy sector.

According to a 2023 ANDE report, Kenya’s green entrepreneurship sector presents a $122.6 billion market opportunity, with waste management ($53.9 billion), agriculture ($32.6 billion), and water ($22.3 billion) emerging as leading sectors for investment.

Addressing Nigeria’s climate ambitions, Prof. Chukwumerije Okereke, President of the Society for Planet and Prosperity, warned that the country’s net-zero emissions target by 2060 would remain unattainable without radical policy shifts. He emphasized that as a hydrocarbon-dependent economy, Nigeria must implement decisive policy reforms to transition toward sustainability.

Highlighting the critical role of climate finance in Africa’s green transition, Gregory Ovie Jobome, Executive Director of Access Bank Nigeria, noted that Africa has a $6 trillion economic opportunity in green industries by 2050.

With 70% of the continent’s population under the age of 30, Africa has the potential to leapfrog traditional industrialization by embracing clean technology, renewable energy, and climate-smart agriculture.

During the forum, KCIC announced plans to host the second Climate Investment Summit in early October, an event aimed at linking climate-focused entrepreneurs with investors. This initiative seeks to mobilize capital for Africa’s green enterprises and accelerate the growth of sustainable businesses across the region.

The Nigeria Climate Change Forum, held from January 27-28, served as a platform for catalyzing transformative actions to combat climate change across the continent.

The gathering brought together government officials, business executives, industry leaders, climate activists, and development partners to foster collaboration and drive knowledge exchange in decarbonization and sustainability mainstreaming.

As the continent navigates the complexities of climate change, the message from Abuja was clear: Africa must take the lead in crafting and implementing its climate solutions to drive economic growth, social equity, and environmental resilience.