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$2.4 Trillion Investment needed Yearly for Climate Solutions – UN Climate Agency 

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The Executive Secretary of UN Climate Change, Simon Stiell, says a whopping 2.4 trillion dollars is needed yearly for investment in climate issues in developing countries.

Stiell stated this in a speech he delivered in Baku, Azerbaijan, host city of the COP29 UN Climate Conference scheduled for November.

Reports says that speech is previewing the key issues and actions needed in the crucial periods ahead, building on progress at COP28 in Dubai.

The executive secretary of the UN agency noted that the amount is what the High-Level Expert Group on Climate Finance estimates, said is needed for renewable energy, adaptation, and other climate-related issues in developing countries, excluding China.

“Whether on slashing emissions or building climate-resilience, it’s already blazingly obvious that finance is the make-or-break factor in the world’s climate fight – in quantity, quality, and innovation.

“In fact, without far more finance, 2023’s climate wins will quickly fizzle away into more empty promises.

“The New Collective Quantified Goal on Climate Finance must be agreed. Countries must be confident that they will be able to rapidly access sufficient concessional support.

With finance, as with other commitments, transparency is essential for building trust, delivering impact and therefore forging more ambitious commitments.

“Climate finance must not be quietly pilfered from aid budgets. And it must be designed to be leveraged, driving and protecting development gains, whilst delivering concrete implementation of climate action,” he said.

According to him, 2024 is the year multi-lateral development banks must demonstrate – with concrete actions – their centrality in the world’s climate fight, and their determination to deliver impact at scale.

He urged them to take bold steps towards financial innovation that will double, if not triple, their collective financial capacity by 2030 – particularly with respect to grants and concessional finance.

He described 2023 as the hottest year on record by a huge margin, saying it would take an Olympian effort over the next two years to put the world on track to where it is need to be in 2030 and 2050.

“In fact, the action we take in the next two years will shape how much climate-driven destruction we can avoid over the next two decades, and far beyond.

“The Olympic motto ‘faster, higher, stronger’ should be our shared climate mantra.

“UN Climate Change will be stepping up to help coordinate the support available for countries to build the capacity needed to deliver NDCs, NAPs, and BTRs, working with all those active in this space.

“We have already proven we can meet the challenge ahead, having bent the curve of expected global temperature rise from nearly five degrees, to three, closer to 2.5 through UN-convened global cooperation.

“Whilst last year’s agreement on the Global Stocktake at COP28 was far from perfect, it would have been unthinkable just a few years ago, and sends a very strong signal about the inevitability of global decarbonisation.

“But now is no time for victory laps. It’s time to get on with the job,” said the head of the UN agency. (NAN)

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FCCPC Summons Owner of Chinese Supermarket for Alleged Discrimination of Citizens

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The Federal Competition and Consumer Protection Commission (FCCPC), has summoned the owner of a Chinese supermarket located in the Federal Capital Territory (FCT), for alleged restriction of Nigerians.

The supermarket located at Royal Choice Estate, Lugbe, allegedly permits only Chinese citizens access to purchase groceries.

The supermarket was under lock and key when officials of the FCCPC visited in reaction to a viral video where citizens frowned at the supermarket’s policy.

Ms Boladale Adeyinka, the Director, Surveillance and Investigations of FCCPC, who led the team, said the essence of the investigation was to verify the allegations and the contents of that viral video.

”On arrival, we noticed that the supermarket which is right behind me, was sealed and padlocked externally.

”Inquiries have shown that yes, as at this morning this supermarket was opened and people were here.

”CCTV footage also shows that at about 8:29 a.m., two vehicles departed from these premises allegedly containing the owner of the supermarket, whom we have been able to identify by name and we have her contact details.

”Now the summon is to serve notice on her to appear before the FCCPC by April 24 at 11 a. m.

”There are other regulatory tools to be deployed if she fails to honour this summons, ” she said.

Adeyinka said that if the owner of the supermarket failed to hour the summon, the commission under its powers, would seal the premises until she complied.

Mr Sanusi Shuiabu, the Estate Assistant Facilities Manager, said the supermarket was primarily established to cater for the groceries needs of Chinese residents and other tenants of the estate.

He said that there were no agreement restricting the supermarket to Chinese residents only.

Shuiabu said the owner of the supermarket who he simply identified as Cindy was a tenant in the estate.

Reports says that the supermarket was under lock and key when the FCCPC official visited. (NAN)

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Niger Delta Leaders say NDDC MD has Capacity to Perform

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Some leaders in the Niger Delta say they have confidence in the capability of the Managing Director of the Niger Delta Development Commission (NDDC), Dr Samuel Ogbuku to perform.

Mr Freedom Atigbi, the Convener of the Niger Delta Opinion Leaders, Youths and Weighted Stakeholders said this at a news conference in Port Harcourt on Monday.

He said that Ogbuku had demonstrated exceptional leadership qualities, charisma, and ability to drive both human and infrastructure development in the Niger Delta during his few months in office.

“Since Ogbuku’s appointment as managing director, the NDDC has successfully completed the 25.7-kilometre Ogbia-Nembe Road and bridges project.

“In addition, initiatives such as the postgraduate oversees scholarship programme and ‘Operation Light up the Niger Delta’  has significantly reduced crime and enhanced commercial activities in the region.

“Under Ogbuku’s leadership, NDDC has inaugurated the Project Hope programme aimed at creating a database to facilitate the planning and implementation of training and provision for skilled labour,” he said.

Atigbi, who also serves as the Deputy President of the Ijaw Council Worldwide, said that the managing director had established the Niger Delta Chamber of Commerce to support local entrepreneurs in growing their businesses.

“These achievements within few months in office underscores our belief that Ogbuku’s leadership has transformed NDDC from a transactional to a transformative government agency.

“Ogbuku has shown his ability to engage all stakeholders to achieve the goal of carrying everyone along in the commission’s policies and programmes.

“We hereby pass a vote of confidence and offer our support to Ogbuku, a balancer and unifier whose policies and programmes are tackling poverty and misery in the region,” he added.

The youth leader praised President Bola Tinubu for entrusting Ogbuku with the task of advancing his Renewed Hope Agenda in the Niger Delta. (NAN)

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Alleged Defilement: Businessman Docked for Failing to Produce Suspect

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Court Sentences Applicant to 6 Months in Prison for Stealing Cell Phone
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A businessman, Robert Makolo on Monday appeared before an Ikeja Chief Magistrates’ Court, for failing to produce a suspect he stood surety for in a case of defilement.

Makolo had promised to produce the suspect, John, who is his brother in court by the adjourned date.

The Magistrate Mr Lateef Owolabi, adjourned the case until May 30 for mention and to enable the defendant produce the suspect.

Reports says that Makolo had earlier been arraigned on Jan.

22 and stood trial on a two- count charge of conspiracy and perversion of justice.

He had pleaded not guilty.

Magistrate Owolabi, granted the defendant bail in the sum of N200,000 with two sureties in like sum who must produce evidence of 3 years tax payment to the Lagos State Government.

He said that one of the sureties must be a blood relative.

The prosecutor, SP Josephine Ikhayere had told the court that Makolo stood in as surety on  Nov 16, 2023 at the Anthony Police Station.

Ikhayere alleged that Makolo stood as a surety for his brother Paul, who was involved in a case of defilement.

She said the defendant promised to produce his brother the suspect anytime his presence was required at the police station until the case is finally disposed of.

She said that the defendant undertook to produce the suspect on Nov. 30, 2023 but failed.

The prosecutor said that the section contravene the provisions of Section 97 and 411 of the Criminal Law of Lagos.(NAN)

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