COP28: Nigeria - Mainstreaming NDCs into National Budget and Development Planning

Nigeria like many of the other developing countries, faces unique challenges and opportunities in its transition to a sustainable low-carbon economy. As one of Africa's largest oil producers, Nigeria is heavily dependent on fossil fuels, making it vulnerable to global energy market dynamics and climate change impacts. However, Nigeria also possesses abundant renewable energy resources, including solar, wind, and hydroelectric power, which present significant opportunities for a clean energy transition and green job creation. 

The Government of Nigeria has already taken significant steps towards sustainable development and climate action, such as the updated Nationally Determined Contributions (NDCs), the National Development Plan (NDP) which identified seven sectors as established in the updated NDC, and the establishment of a National Council on Climate Change (NCCC) which demonstrates the commitment to address climate change and promote sustainable economic growth. 

This high-level panel provides an opportunity to showcase and share the new administrations political commitment to take the much-needed bold actions required for measurable and institutionalized funding streams for the implementation of the NDC in the long term. Cross country experience sharing, private sector perspectives and subnational   examples and challenges would be interrogated towards strategically positioning of the   NDC as the investment blueprint for sustainable development.