Business
FG Set To Pioneer Carbon Market

The Federal Government is set to pioneer a voluntary Carbon Market on the continent.
According to the government, the carbon market is a new and innovative climate change solution that will create, over the period of an energy transition, millions of new jobs in Nigeria. It stated that this is part of its effort to attain the global net-zero emissions target.
A statement by the Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Laolu Akande, revealed that the Vice President, Prof. Yemi Osinbajo, is a member of the recently formed international Steering Committee for the Africa Carbon Markets Initiative (ACMI), which is aimed at facilitating the emergence and growth of the market in Africa.
It further stated that other members of the committee, which would be announced at the COP27 meeting in Egypt, include former President of Colombia, Ivan Duque Marquez, and President of the African Development Bank, Akinwumi Adesina, as well as officials of the United Nations, USAID, Gates Foundation, and other international private sector players.
“ACMI’s estimates suggest that Nigeria alone could produce up to 30 million carbon credits per year by 2030, which at $20/credit would be worth over half a billion dollars annually.
”At this level of production, the industry could potentially support over 3 million Nigerian jobs. And Nigeria has only a portion of Africa’s total potential—the impact for the continent as a whole could be far greater.
”The jobs would span the period of the energy transition, starting from the time the market is able to kickoff, till 2060.” it stated
Accordiyto the statement, the committee will be inaugurated at the forthcoming International Climate Change Conference in Egypt.
It continued that the Carbon Credit initiative will prioritise the use of environmentally friendly energy sources for domestic and industrial purposes.
“As part of this vision, Nigeria aims to pioneer innovative climate solutions that will benefit Africa and the world. One of these solutions is the production and sale of carbon credits, which have enormous potential for Africa that is only beginning to be explored”, it added.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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