MAN DG Calls for Carbon Market Solutions to Address Africa’s Climate Vulnerability

The Director General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, has called attention to the disproportionate impact of climate change on Africa, despite the continent’s minimal contribution to global greenhouse gas emissions.

Speaking at the second edition of the Environmental, Social, and Governance (ESG) Private Sector Forum in Lagos, Ajayi-Kadir pointed out that Africa contributes only four percent of global emissions but remains highly vulnerable due to limited infrastructure, energy poverty, and inadequate funding for clean energy solutions.

He noted that over 600 million people across the continent lack access to electricity, with the majority living in rural areas. Ajayi-Kadir highlighted the importance of the carbon market as a potential solution to these challenges, stressing that it could mobilize critical investments for Africa’s green transition. “The carbon market will drive energy efficiency, promote the development of green infrastructure, and support sustainable land use practices,” he said.

He further emphasized the need for a coordinated approach that includes private sector participation and international funding to help meet Africa’s energy access and sustainability goals, such as those outlined in the African Union Agenda 2063 and the UN’s Sustainable Development Goal 7.

The MAN DG also called on African nations, particularly Nigeria, to maximize the potential of the carbon market. He urged the mobilization of resources to advance renewable energy, prioritize off-grid energy solutions, improve energy efficiency, and expand grids.

Ajayi-Kadir stressed that creating a favorable policy and regulatory framework is critical for achieving these objectives and securing international funding. He referred to the African Union’s target of ensuring universal access to energy by 2030 and the African Development Bank’s “Light Up and Power Africa” program, which aims to connect millions to electricity.

Ajayi-Kadir further urged the global community to support Africa in its efforts toward sustainability, emphasizing the importance of a policy environment that encourages investment in renewable energy.