BUSINESS

TINUBU BETS ON GLOBAL SOUTH ALLIANCES TO DRIVE GREEN INDUSTRIAL REVOLUTION
When President Bola Ahmed Tinubu took the global stage this April alongside UN officials and Brazilian President Lula da Silva, it wasn’t just another diplomatic appearance—it marked Nigeria’s bold entry into the evolving landscape of climate finance. Tinubu’s message was unambiguous: for Nigeria, climate is not a constraint, but a catalyst for growth.
This marks a significant shift in tone—and in substance—for a petrostate historically ambivalent about climate policy. In the early months of his administration, Tinubu’s climate stance was muddled by bureaucratic overlaps, symbolic gestures, and a lack of coherent strategy. At COP28, Nigeria was criticized for sending one of the largest delegations without presenting a clear negotiating agenda, raising eyebrows globally.
But the tides are turning. Nigeria’s pivot toward BRICS, deepening ties with China, Brazil, and India, and a recalibrated foreign policy outlook have redefined climate action as a core geopolitical and economic priority. Tinubu is now presenting climate reform not as a concession to global norms, but as a platform for national transformation.
In a departure from past administrations, Tinubu is coupling bold rhetoric with decisive action. From installing solar infrastructure at the State House to advancing fiscal reforms that grant greater autonomy to states, his administration is beginning to align policy with ambition. More significantly, he has signaled a willingness to confront politically sensitive reforms—removing petrol subsidies and floating the naira—steps that underscore his commitment to restoring macroeconomic stability and repositioning Nigeria on the global stage.
Still, challenges remain. While Nigeria’s Energy Transition Plan (ETP) arrived before South Africa’s Just Energy Transition Partnership (JETP), it has yet to attract large-scale concessional funding. The ETP lays out a roadmap but lacks a credible mechanism for financing and implementation, reducing it to a visionary document rather than a delivery tool.
Tinubu’s approach contrasts with that of his predecessors, who introduced the Climate Change Act and ETP but failed to implement structural reforms or mobilize institutional momentum. Where former leaders saw climate as a vehicle for fundraising or nationalist posturing, Tinubu views it as a political economy issue—one that intersects with fiscal reform, state legitimacy, and Nigeria’s developmental future.
At the center of this new thinking is the concept of a “country platform”—a model that integrates climate action with broader development goals. Unlike traditional energy transition plans that focus narrowly on mitigation, this model weaves adaptation, industrial policy, fiscal reform, and institutional coordination into a comprehensive national strategy.
For Tinubu, climate action is no longer an environmental sidebar—it’s a strategic imperative. As Nigeria steps into this new role, it may not just catch up to global climate ambitions, but help redefine how the Global South approaches climate and development in the years to come.
"This represents a significant development in our ongoing coverage of current events."— Editorial Board