The United Kingdom has said Nigeria would get a £95 million investment fund to support climate-resilient agriculture, CRA, in the country.
CRA uses existing natural resources through crop and livestock production systems to achieve long-term higher productivity and farm incomes under climate variabilities.
The UK government made the new commitment while announcing an increase in the climate adaptation budget to £1.5 billion by 2025.
“In Nigeria, the UK will provide a £95 million investment to support the development of climate-resilient agriculture programmes, for example through scaling up heat tolerant crop varieties.
“The funding will support more than 4 million people, including 2 million women, to increase productivity while reducing emissions,” James Cleverly, UK Foreign Minister said a statement yesterday.
He said the budget was scaled up to support developing countries facing the devastating impact of climate change, to adapt effectively.
At the COP27 climate conference in Egypt on Monday, Cleverly had said the UK was delivering on the commitments made at COP26 in Glasgow and urged other countries to do the same. The UK had pledged £290 million at COP26.
The new budget commitment was announced in a session with the theme, ”Accelerating adaptation in Africa’’, which aims to support the international community to make COP27 a critical moment for increasing climate financing in Africa.
Cleverly said further: “The Glasgow climate pact gave the world the tools to limit the rise in global temperature to 1.5 degrees and build a secure and sustainable future.
“Now is the time for all countries to step up their action on climate change and deliver the tangible change needed.
“The UK will continue to play a leading role in this mission. The funding we have announced will support countries which are facing the devastating impact of climate change, to adapt effectively.”
Cleverly said Africa would be prioritised in the climate financing commitment, adding that the UK had partnered the African Development Bank, AfDB, to open up a new climate finance window Africa could benefit from.
He said about £250 million had already been contributed to the window.
On his part, UN Secretary-General, Antonio Guterres, called for an accelerated effort by world leaders to develop an effective roadmap to increase climate action.
He tasked financial institutions with adapting their business models and bankable projects to increase climate financing for developing countries.
“There is money for adaptation but countries need to develop bankable projects to access them,” he said.
Other leaders present include Akinwunmi Adesina, president of the AfDB, Nana Akufo-Addo, Ghana’s president, and William Ruto, Kenya’s president.