Niger Delta: NDDC Seeks Investors in Green Innovations

MarketForces Africa: The Niger Delta Development Commission (NDDC) is seeking investors and development partnerships in green innovations to mitigate the effect of climate change while promoting development in the region.

NDDC Managing Director, Dr Samuel Ogbuku, disclosed this in Dubai at the ongoing Climate Change Conference(COP28).

Ogbuku, according to a statement issued on Thursday in Abuja by NDDC’s Director of Corporate Affairs, Mr Pius Ughakpoteni, expressed the commission’s determination to embrace clean energy sources.

This, he said, would be through practical approaches such as nature-based solutions and green innovations.

He also said that the commission was leveraging on the key sectors of the energy transition plan to develop new green skills and create new jobs.

Ogbuku added that significant investments, partnerships and collaboration were required to succeed.

“Our gathering at COP28 is a reminder of the urgent need for several and collective actions to address the issues of climate change.

“Sustainable development for the Niger Delta region is underscored by the high vulnerability of the region to impacts of climate change and environmental pollution.

“The high exposure of the region to sea level rise, storm surges, coastal erosion, and river flooding, compounded by increasing human-induced pressures on coastal areas made the region one of the most impacted by climate change in Africa,” he said.

He said that the vulnerability of the region was further aggravated by oil spillages, gas flaring and environmental degradation.

“While the Niger Delta region is a critical ecosystem, rich in natural resources and a significant contributor to the global economy, this vast resource is intricately interwoven with compounding climate change and environmental issues.

“These resources have the leveraging capacity for the transition to a low carbon, climate-resilient development pathway,” the managing director said.

Ogbuku said that the commission would explore the four major themes of COP28 which are “ technology and innovation, inclusion, frontline communities and finance.” He said that NDDC was participating at the climate change conference to leverage on the spirit of the themes to seek partnerships in green innovations and finance.

This, according to him, is key to finance for fast-tracking green initiatives aimed at limiting global warming to 1.5 degrees centigrade by 2030. NDDC is determined to mainstream climate considerations in our operations,” Ogbuku said. Nigeria Eurobond Slumps after CBN Resumes OMO Auction