By Ikugbadi Oluwasegun
Nigeria is seeking a trillion dollars in annual climate finance for developing nations.
This was at the Non-Aligned Movement meeting held in Kampala, Uganda where the Nigerian delegation led by the Permanent Secretary of the Ministry of Foreign Affairs, Umar Ahmed Dunoma also reaffirmed Nigeria’s support for Palestinian two -state solutions and called for urgent reforms of global institutions like the UN Security Council to reflect current realities.
A statement by the Foreign Affairs Ministry’s Spokesperson, Kimiebi Ebienfa says the Permanent Secretary critiqued the current global system and gave a detailed plan for action among Non-Aligned Movement member nations, urging a stronger, more united voice for the Global South.
Dr Umar Dunoma highlighted multiple crises facing developing nations; from climate change to unsustainable debt, and said no nation can bear these burdens alone.
While nations like Nigeria are acting with resolve, Dr. Umar Dunoma stressed that efforts will fall short without support.
He pointed out that Nigeria’s national plan focuses on mobilizing private finance through “green guarantees,” including a newly established National Credit Guarantee Company.
The goal he said, it is to de-risk green investments and align key ministries to attract capital, a model he says can unlock five to six times more finance than conventional tools.
