Governor Umar Bago said there is free money in the global credit market but that the state must aggregate all its forests to tap into that income stream.
The Governor of Niger State, Umar Bago, says the state is reclaiming all its forests to tap into the global carbon credit market.
The governor said there is free money in the global credit market but that the state must aggregate all its forests to tap into that income stream, adding that the state has no reason to be poor.
Mr Bago spoke on Sunday in Minna during an interaction with members of the House of Representatives Press Corps ahead of the Climate Change summit scheduled for Tuesday and Wednesday.
The carbon credit market allows organisations and entities to reduce the amount of carbon already in the atmosphere, say by planting more trees or investing in renewable energy. The carbon offset could be sold to companies that have exceeded their carbon emission limit.
Countries now plant trees and embark on other carbon reduction measures to sell their carbon offsets at the carbon markets.
Mr Bago said the trees in the forest are being cut down as firewood when the state could earn substantial money and also protect the environment.
"We are holding the first of its kind green economy summit because we have seen the comparative advantage we have in this state. So much money is out there and the only way we can access carbon credits is when we first aggregate our forests and trade them in exchange for the emission by multi-national companies.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
"Niger State has the largest congregation of shea trees in the world It is an endowment by God. These things nobody knows about are there but our women are on the farms, cutting them down to make firewood. We, however, need them to understand that we must protect our forest from deforestation and also promote afforestation," he said.
Speaking on insecurity in the state, Mr Bago said while insecurity is indeed a major challenge for the state, however, it is not significant enough to deter the development plan of the government.
"Yes, we cannot shy away from insecurity, it is a reality but what percentage of our land is in that mess? Very insignificant. You cannot underscore the fact that lives are being lost but we are saying that we are working assiduously to make sure that everybody lives well in Niger State and Nigeria at large," he said.
Mr Bago stated that the state government has signed an agreement for the purchase of 200 Compressed Natural Gas (CNG) buses to render free transportation to students and also for civil servants at a subsidised rate.
"We are very ambitious as a government. We have already purchased about 200 CNG buses to commute, for free, students going to school and subsidised for civil servants in Niger State. 100 of the buses will commute Abuja and Suleja daily, while 50 will be in Minna and others will be spread between Kontangora and Bida," he stated.
Experts across the country are expected to converge in Minna for the green economy summit.
