Nigeria Advocates For Global Financing For Land Restoration At COP16

Nigeria Advocates For Global Financing For Land Restoration At COP16

Riyadh, Saudi Arabia – Representing Nigeria at the 16th Session of the Conference of Parties to the United Nations Convention to Combat Desertification (COP16), the Honorable Minister of Regional Development, Engr. Abubakar Momoh FNSE, delivered a powerful speech during a high-level round table discussion on unlocking public and private finance for land restoration and drought resilience. The event, held on December 3, 2024, in Riyadh, Kingdom of Saudi Arabia, brought global leaders together to address critical environmental challenges.

Engr. Momoh revealed that 21.94 million hectares—or 24.1% of Nigeria’s total land area—have been lost to forest degradation, overexploitation, and land conversion. He stressed that these losses impact water availability, soil fertility, food security, biodiversity, and climate change, requiring urgent action.

Nigeria’s Leadership and Initiatives

The minister highlighted Nigeria’s proactive steps in combating land degradation:

Green Bond Initiative: As the first West African country to issue a sovereign green bond in 2017, Nigeria has created opportunities for restoration projects while attracting private capital.

Great Green Wall Program: The government is restoring 2 million hectares of land and improving the livelihoods of 10 million residents in drylands by 2025 through community-based efforts.

International Cooperation: Nigeria continues to engage with global organizations and climate-focused funds to secure resources for sustainable projects.

A Call to Action

Engr. Momoh emphasized that restoring degraded land requires partnerships and substantial investments beyond the capacity of African governments. He called for increased financial and technical support from developed nations and global funding mechanisms like the Global Environment Facility (GEF) and the African Union Commission.

“New and adequate funding is urgently required to address the planetary crisis in Africa,” the minister urged, emphasizing Nigeria’s commitment to a sustainable and resilient future.

The session concluded with global leaders reaffirming their commitment to enhanced financial mechanisms for land restoration and drought resilience.