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Business

World Bank set to invest over $5 billion in drylands across 11 African countries

World Bank has announced plans to invest over $5 billion within the next five years to help restore degraded landscapes in 11 African countries.

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World Bank Group President, David Malpass, has announced plans by the bank to invest over $5 billion within the next five years to help restore degraded landscapes, improve agriculture productivity and general livelihood across 11 African countries.

This was announced by the President during the One Planet Summit, a high-level meeting co-hosted with France and the United Nations, focused on addressing climate change and biodiversity loss.

The funding will also support biodiversity, community development, food security, job creation, resilient infrastructure, rural mobility, and access to renewable energy across the Sahel, Lake Chad and Horn of Africa.

This is in line with the Great Green Wall initiative. It also builds on World Bank landscape investments in these countries over the past eight years that reached more than 19 million people and placed 1.6 million hectares under sustainable land management.

What they are saying

  • “This investment, which comes at a crucial time, will help improve livelihoods as countries recover from COVID-19 while also dealing with the impact of both biodiversity loss and climate change on their people and economies,” said Malpass.
  • The Chairperson of the African Union Commission, Moussa Faki Mahamat, stated that “restoring natural ecosystems in the drylands of Africa benefits both people and the planet.”

What you should know

  • PROGREEN, a World Bank global fund dedicated to boosting countries’ efforts to address landscape degradation, will also work with many partners to invest $14.5 million in five Sahelian countries – Burkina Faso, Chad, Niger, Mali, Mauritania.
  • The World Bank Group is the biggest multilateral funder of climate investments in developing countries. In December 2020, the World Bank Group announced an ambitious new target for 35% of its financing to have climate co-benefits, on average, over the next five years.
  • The Sahel part of Africa includes from west to east parts of northern Senegal, southern Mauritania, central Mali, northern Burkina Faso, the extreme south of Algeria, Niger, the extreme north of Nigeria, the extreme north of Cameroon and Central African Republic, central Chad, central and southern Sudan, the extreme north of South Sudan, Eritrea, and the extreme north of Ethiopia.
  • Horn of Africa is the easternmost extension of African land. The region that is home to the countries of Djibouti, Eritrea, Ethiopia, and Somalia.

Specta

Adeyemi holds a PhD in Accounting Sciences. He has worked in the Educational Sector and as an Independent Consultant.

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Business

AfDB set to mobilize $25 billion to scale up African climate adaptation

AfDB is mobilizing to the tune of $25billion to scale up and accelerate climate change adaptation actions across Africa.

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e-Learning Platform, Africa Development Bank. AfDB develops Index to aid women empowerment , African Development Bank awards $1.1 million to boost food production in Africa , AFDB increases capital to $208 billion in bid to secure Africa’s future , African Investment Forum: AfDB eye $67 billion deals , ECOWAS backs Adewunmi Adesina’s re-election as AfDB election nears , AfDB bows to pressure from U.S., orders an independent probe of Akinwumi Adesina, Fitch rating agency affirms AfDB's AAA rating with stable outlook, Digital Nigeria e-Learning Platform registers 16,000 users in 24 hours - African Development Bank

The African Development Bank (AfDB) has formally launched the Africa Adaptation Acceleration Program (AAAP) that would mobilize $25 billion to scale up and accelerate climate change adaptation actions across Africa.

This disclosure was made by the President of AfDB, Dr. Akinwunmi Adesina, during the Climate Adaptation Summit (CAS) 2021, hosted by the government of the Netherlands and the Global Centre on Adaptation (GCA).

According to Dr. Adesina,

  • Our ambition is bold: to galvanize climate resilience actions; support countries to accelerate and scale up climate adaptation and resilience, and mobilize financing at scale for climate adaptation in Africa
  • “Our Youth Adaptation flagship will unlock $3 billion for the youth, support 10,000 youth-led SMEs in climate resilience, and build capacity for one million youth on climate adaptation”

Dr. Adesina thanked Ban Ki-Moon for his role in the establishment of GCA’s regional office for Africa in Abidjan in 2020, which was hosted by the Bank.

He also acknowledged that the presence of John Kerry, U.S. special envoy for climate, provided a boost to global climate efforts and stated, “With you in charge, and the strong and palpable leadership of President Biden, we are reenergized on the global agenda on climate change

Specta

What they are saying

  • In consideration of the huge gaps in financing for adaptation in developing countries, the UN Secretary-General, Ban Ki Moon, called for 50% of all climate finance provided by developed countries and multilateral development Banks to be allocated to adaptation and resilience in developing countries, noting, “the African Development Bank set the bar in 2019 by allocating over half of its climate financing to adaptation.”
  • The Ghanaian president, Nana Addo Dankwa Akufo-Addo, said that his country was working with the private sector with the assistance of the Green Climate Fund, “to establish a multimillion-dollar green fund to support our climate adaptation interventions and our efforts to transition to renewable energy.”

What you should know

  • The Climate Adaptation Summit holds annually to discuss emerging climatic issues and challenges facing Africa
  • The AAAP, a joint initiative between the African Development Bank and the Global Centre on Adaptation, is expected to scale up innovative and transformative actions on climate adaptation across Africa.
  • The African Development Bank Boss participated in three sessions and outlined a number of Bank initiatives, including the $20 billion Desert to Power project to create a solar zone in the Sahel, the largest in the world.
  • The Bank’s Technologies for African Agricultural Transformation (TAAT) initiative has leveraged $450 million and provided 19 million farmers in 27 countries with climate-resilient agricultural technologies, raising average yields by 60%.

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Business

Lagos seals 10 different properties in Ogudu GRA for violating planning laws

10 different buildings in the Ogudu GRA area have been sealed by the Lagos State Government for violating physical planning laws.

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Lagos issues ultimatum to Tank Farm Operators over planning permit, Lagos seals 27 residential and commercial buildings in Lekki, LASG Seals 19 more Buildings in Banana Island over planning permit

The Lagos State Government has sealed off 10 different buildings in Ogudu GRA for violating the state’s physical planning laws.

While leading a team of government officials for the special enforcement operation, the Lagos State Commissioner for Physical Planning and Urban Development, Dr Idris Salako, said owners of the property involved had chosen to remain obstinate in their wrong ways as they refused to comply with the Lagos State Physical Planning laws, despite being served the statutory notices.

He stated that the sealed property owners had breached various aspects of the law, including the development of buildings without Planning Permits, not building in conformity with approvals and not having stage certification among others.

The Commissioner emphasized that the Lagos State Government is determined to achieve a livable, orderly and sustainably built environment and would not allow any willful violation of the Planning laws of the State.

Salako also urged Developers and Property Owners, whose properties were sealed, to engage the Ministry with a view to getting the appropriate Planning Permits authorising their building construction or renovation.

Specta

He added that law-abiding citizens of Lagos State intending to build should obtain Planning Permits from Lagos State Physical Planning Permit Authority and evidence of Stage Certification, which includes Certificate of Completion and Fitness for Habitation, from Lagos State Building Control Agency (LASBCA).

The Commissioner enjoined Lagosians not to engage charlatans in obtaining Planning Permits as they run the risk of procuring fake permits which the State government would not hesitate to disavow.

What you should know

  • The Lagos State Government through its Physical Planning and Urban Development Ministry has been on strict enforcement drive of its physical planning laws by moving against developers of illegal and unapproved buildings.
  • At different times, they have sealed off both commercial and residential properties in Lekki, Surulere, Ikoyi, Amuwo Odofin, Ogudu GRA, Ikeja and others.
  • The state government has just reviewed its planning permit processing time and reduced the layout approval process to make it easier, faster and less cumbersome for developers to obtain their planning permit.

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Lagos State Government to transform Badagry into industrial and tourism hub

Lagos State Government has assured Badagry residents of plans to transform the area into an industrial and tourism hub.

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Lagos announces resumption time table for public and private schools, FESTAC town, Lagos cancels 2018 land use charge, LAND USE CHARGE, Lekki sealed buildings, Lagos state governor issues new guidelines for lockdown, consider full reopening of its economy,Sanwo-Olu gifts families of slain police officers N10 million naira each

The Governor of Lagos State, Babajide Sanwo-Olu, has announced that the state will transform the Badagry area of the state into a tourism and industrial hub.

This was disclosed on Monday during the inauguration of the reconstructed 5.5 kilometres Hospital Road in Bagadry. The Governor was represented by his spokesman, Mr Adesina Odunuga, from the State Ministry of works.

Sanwo-Olu said the transformation would be part of the State’s “administration’s infrastructure drive.”

“Our plan is to harness Badagry’s tourism and growth potentials through the provision of this 5.5km-long road.

“We have planned the execution and the completion of this road in two phases.

Specta

“Once the road is completed, there will be corresponding economic benefits in form of new clusters of industries, commercial growth and general ease of transporting goods,’’ he said.

The Governor added that the road would be reconstructed as a dual carriage-way to connect Idale, Povita, Topo and Ajido communities to Lagos-Badagry Expressway via Joseph Dosu Road.

“The road strategically services the Badagry Marina where several tourism centres such as Agiya Tree Monument, First Storey Building and Early Missionary Cemetery in Nigeria including Slave Trade Relics /Point of No Return, Heritage Museum, Eko Theatre, Badagry VIP Chalets and a host of others are located,” he added.

What you should know

  • Nairametrics reported earlier this month that Lagos State had announced that it would increase infrastructure spending in 2021 to 60% of its budget, in a bid to repair damages inflicted by hoodlums in October 2020, following the #EndSARS protests.
  • The Lagos State Government also assured its residents that it would improve social services and expand public infrastructure to enhance productivity and economic growth.

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