Connect with us

Economy

AfDB mulls mobilising $13bn for climate change — Adesina

Published

on

Climate Change: 600m Africans at risk of severe droughts — AfDB, GCA report

Dr Akinwumi Adesina, President African Development Bank (AfDB) said its fund, the African Development Fund (ADF), would introduce a Climate Action Window to mobilize between four billion dollars to 13 billion dollars for climate adaptation for ADF countries.

In a statement from the AfDB on Tuesday, Adesina said this at the Africa Climate Adaptation Summit which took place in Rotterdam, the Netherlands on Monday.

The ADF countries are Benin and Burkina Faso. Burundi, Central African Republic, Chad, Comoros, Democratic Republic of Congo, Eritrea, Ethiopia, The Gambia, Guinea, Guinea-Bissau, Liberia, Madagascar, Malawi, Mali, Mozambique, Niger and Rwanda.

Others are Sierra Leone, Somalia, South Sudan, Sudan, Tanzania, Togo, Uganda, Zimbabwe, Côte d’Ivoire, Djibouti, Ghana, Lesotho, Mauritania, Sao Tome & Principe, Cameroon, Kenya, Senegal, Zambia and Nigeria.

The AfDB president said the fund mobilised would be used to support 20 million farmers with access to climate resilient agricultural technologies,  20 million farmers and pastoralists access to weather-indexed crop insurance.

He added it would revive one million hectares of degraded land, and provide renewable energy for about 9.5 million people.

He, however, stressed the need for financing to tackle the challenge of climate change in Africa and called on developed countries to provide the 100-billion-dollar annual climate finance as commitments made to developing countries.

“The African Development Fund’s 16th replenishment now presents such a unique opportunity! Never have the stakes been so high for Africa’s low-income and fragile states that depend on the ADF.

“Nine of the 10 countries most vulnerable to climate change in the world are in sub-Sahara Africa and all of them are ADF countries.

Yet, ADF countries do not have access to global climate finance.

“Commitments made by developed countries to provide 100 billion dollars annually in climate finance for developing countries are long overdue. Africa can no longer wait.

“This is the time to support the African Adaptation Acceleration Programme.

This is the time to support ADF’s 16th replenishment.

This is the time to support the Climate Action Window of ADF-16.”

Adesina stated that Africa received only three per cent of global climate financing, adding that if the trend continued, the continent’s climate financing gap would reach 100 billion dollars to 127 billion dollars per year through 2030.

“The current climate financing architecture is not meeting the needs of Africa.

New estimates by the African Economic Outlook of the AfDB show that Africa will need between 1.3 and 1.6 trillion dollars between 2020-2030, or 118 billion dollars to 145 billion dollars annually.

This will enable the continent to implement its commitments to the Paris Agreement and its nationally determined contributions.

“The African Adaptation Acceleration Program (AAA-P) is Africa’s own programme, supported by African Heads of State, to mobilise more resources for climate change, to advance the objectives of the African Adaptation Initiative.”

He further said the bank and the Global Centre on Adaptation were mobilizing 25 billion dollars for the programme, to which the AfDB had committed 12.5 billion dollars.

He explained that the AAA-P had an upstream facility at the GCA and a downstream facility at the bank.

“The upstream facility, which needs capitalization of 250 million dollars, will help to mainstream solutions on climate adaptation.

“The downstream facility at the bank, to be capitalized at 1.75 billion dollars, will help leverage additional adaptation finance by a factor of four times, to deliver seven billion dollars of additional adaptation finance.

“GCA and the AfDB are already showing very good results on the AAA-P.

The AAA-P upstream facility at the GCA has helped to generate three billion dollars of mainstreamed climate adaptation investments by the bank, from agriculture to energy, transport, water, and sanitation.”

He thanked the UK for its delivery on the promise of GBP 20 million for the upstream facility at the GCA, which had been fully disbursed, adding that the bank would fulfill its commitment in mobilising 12.5 billion dollars.

The ADF was established in 1972 and became operational in 1974 as a separate legal international organization part of the bank.

The fund is supported by 32 donors, including the bank, who replenish the fund every three years.

The international development partner country officials (deputies) of the ADF and the senior management of the AfDB would meet in Dakar, Senegal, to discuss the fund’s 16th replenishment (ADF-16) from Sept. 15 to 17.

 

Continue Reading
Advertisement Simply Easy Learning
Click to comment

Economy

LASG Issues Travel Advisory Ahead Of Students Rave Event

Published

on

LASG Issues Travel Advisory Ahead Of Students Rave Event

… Says traffic will be restricted between Police Zonal Headquarters, Zone 2 and Onikan Roundabout from 7:00 am*** 

The Lagos State Government has advised Motorists to plan their movement around Mobolaji Johnson Arena, Old Onikan Stadium, Lagos Island ahead of the Students Rave 2023 event scheduled for Friday, 27th January 2023.

As a result of the above rally, the Commissioner for Transportation, Dr. Frederic Oladeinde disclosed that traffic will be restricted between Police Zonal Headquarters, Zone 2 and Onikan Roundabout from 7:00 am on the aforementioned day. He assured that Officers of the Lagos State Traffic Management Authority, (LASTMA) will be available to manage traffic flow.

Explaining the alternative routes, Oladeinde advises Motorists plying Island Club road by Police Headquarters Zone 2, Onikan to go through Ozumba Mbadiwe road inbound Falomo Bridge (Five Cowries Bridge) to link Alfred Rewane and Osborne road to complete their journeys.

In the same vein, Motorists from Bonny Camp according to the diversion plan can access CMS/Marina Bridge after Independence Bridge (Mekunwen Bridge) and loop it down towards Cathedral Church to connect Lagos Island proper through Odunlami Street for their desired destinations,

The Transport Commissioner also advises Motorists to utilize Force road beside Muson Centre to link J.K Randle Avenue (Race Course) or go through Onikan Roundabout to connect JK Randle Avenue/Water Board area to access CMS Bridge by the State House/Old NITEL Building.

He further explained that Water Board inbound Broad Street to Tinubu Square will be available to Motorists, adding that they can equally access Old Defense road/ Ganiyu Smith from Water Board to link Igbosere/Sandgrouse to Simpson Street and connect Third Mainland Bridge to continue their journeys to other parts of the State.

The Transport Commissioner reiterated that Security and Law Enforcement Agencies will be at all strategic junctions and intersections to ensure the safety and security of all road users and the free flow of traffic within the perimeter of the venue and alternative routes outside the venue.

Continue Reading

Economy

Aregbesola: Immigration Produced More than 1.7m Passports in 2022

Published

on

Aregbesola: Immigration Produced More than 1.7m Passports in 2022

…Agrees there are human-induced challenges***

Minister of Interior, Ogbeni Rauf Aregbesola, said in Abuja on Thursday that the Nigeria Immigration Service (NIS) produced more than 1.7 million passports in 2022.

Fielding questions at the 64th edition of the State House briefing organised by the Presidential Communications Team, Aregbesola said the figure was a landmark achievement.

He rated the Ministry of Interior and its agencies as having scored above 80 percent in terms of performance.

“By Dec. 31, 2022, we produced more than 1.7 million passports.

“In the annals of Nigeria that has not happened before; as I am talking to you, we have more than 200,000 booklets in our store.

“We are not denying the fact that there are human-induced challenges if you look at the number of applications, vis-a-vis the number of passports produced.

“We are above 80 percent in performance; in any way, take it as given that we produced more than 1.7 passports in 2022,’’ Aregbesola said.

The minister said that a presidential directive had been issued with regard to the domestication of passport production.

He said the Ministry of Interior, in collaboration with the NIS, had impanelled a “project steering committee’ with a mandate to actualise the goal.

Aregbesola also said there was a major reformation and digitisation of passport issuance and administration as a temporary electronic passport had been introduced.

“We are digitising the process; my plan was to fully digitise the Ikoyi Registry in Lagos by Dec. 2022 but I could not fully achieve that.

“What does that mean? When this process is concluded, an applicant does not need to bring anything anymore; you complete your process online and by that time, you don’t need an agent.

“There can’t be racketeering. I am on it and I want to guarantee that we will do it before we leave.

“We have also concluded arrangements on the temporary passport issue; we have the passport, but we have some issues with our sister ministry – the Ministry of Foreign Affairs and we are solving it,’’ he said.

According to the minister, the temporary passport will facilitate a return to Nigeria for Nigerians living abroad if they need to get back in emergencies and did not have current passports.

Such Nigerians would return home, carrying their expired passports also, the minister said.

“Much as that won’t be a problem for us to take at our reception desk, some airlines could be difficult.

“I can even tell you that we are discussing with South Africa now; South Africa does not allow the use of expired passports as a nation contrary to International Civil Aviation Orgnanisation (ICAO) regulation.

“ICAO says that every citizen of a nation dead or alive cannot be denied entry to his home; which is logical anyway.

“The last time I treated a file from South Africa through the Ministry of Foreign Affairs, they were insisting that if one’s passport is not current, one cannot be taken in or out of South Africa’s space.

“It is their policy; you cannot deny a nation its national policies and programmes.

“To avoid that, we introduced what is called temporary electronic passport; it is a one-way passport to return home,’’ Aregbesola explained.

He said that under the temporary passport regime, citizens who had the data pages of their expired passports could take them to Nigeria’s embassies to get the temporary electronic passport after paying the appropriate fees.

“The temporary electronic passports are almost exactly the same as their expired passports.

“It does not have more than one page to take you home; when you hold the electronic passport, you cannot go anywhere but home.

“We are still in negotiation with the Ministry of Foreign Affairs,’’ Aregbesola said.

Continue Reading

Economy

Court Again adjourns, for report of settlement in suit against Dana Air MD

Published

on

Court Again adjourns, for report of settlement in suit against Dana Air MD

…Ranesh still shuns Court*** 

 A Federal High Court, Abuja has fixed May 31 for report of settlement in a suit filed by the office of Attorney-General of Federation (AGF) against Managing Director (MD), Dana Air, Hathiramani Ranesh.

Justice Obiora Egwuatu fixed the date on Wednesday following an oral application for adjournment by counsel to the AGF, M. Okeya.

Though the prosecution counsel was in court when the matter was called, neither Mr Ranesh nor his lawyer was in court.

The suit, marked FHC/ABJ/CR/101/21 which was number 10 on the day’s cause list, was for the arraignment of Ranesh and two others.

Upon resuming the hearing in the case, Okeya told Justice Egwuatu that the parties in the suit were exploring settlement options.

The lawyer, who informed that a sister case was also before a Lagos court, said the matter would be coming up later in the year.

She, however, sought a longer date for a report on the outcome of settlement and the judge consequently adjourned the case until May 31 for a report.

Egwuatu had, on Oct. 13, 2022, adjourned the matter until Jan. 25 for arraignment of the defendants following the absence of Mr Ranesh and the prosecution lawyer in court.

However, Ranesh’s counsel, Ade Adedeji, SAN, was in court and he hinted that the prosecution and the defence were exploring reconciliation.

It is incisive that since the commencement of the matter, Dana Air MD had not been present in court.

On June 30, 2021, when the matter came up, while other defendants were in court, Ranesh was absent.

Adedeji had told the court that the absence of his client in court was to the knowledge of the prosecution.

When the matter was called, Adedeji, said he was in court to represent Ranesh after they were served with the notice of arraignment.

The lawyer had told the court that his client was not in the country.

“The charge before this honourable court is a serious matter.

“We came in from Lagos just to come and explain to your lordship the circumstances that informed our acceptance of service without knowing that the date is coming so soon.

“We didn’t know before we accepted it. We have an option not to accept this but as officers in the temple of justice, we felt we are under obligation to accept on his (Ranesh’s) behalf.

“But to the knowledge of counsel to the prosecution, the principal defendant is not in the country which was made known to the prosecution.

“It is on the basis of these circumstances that we shall be appealing to your lordship for an adjournment my lord to enable the defendant appear before this honourable court,” he had said.

Counsel to the AGF, Wilson Michelangelo, did not oppose the request for an adjournment, and the judge fixed Oct. 13, 2021, for arraignment of the suspects.

On Oct. 13, 2021, when the matter came up, Justice Egwuatu was said to be on an official engagement in Lagos State and the matter could not proceed.

Although the counsel who appeared for the AGF, Moshood A., and lawyer to the defendant, Adedeji, SAN, were in court, Mr Ranesh was not.

Consequently, the court then fixed Feb. 15, 2022, for the arraignment of Mr Ranesh and two other defendants in the matter and on the adjourned date, the case was also fixed for May 26, 2022, for arraignment.

Continue Reading

Advertisement

Editor’s Pick

Politics