Agriculture is central to any debate on climate change given the enormous responsibility placed on the sector to produce 60% more food by 2050 despite changing climatic uncertainties. The case for increased investment in climate-smart agriculture has been articulated in different forums as a way to promote agricultural transformation and chart a path to scale up climate actions in agriculture. However, it is noted that the amount of climate finance going into the agricultural sector is very small compared with other sectors and, in contrast to what has been clearly identified in the Nationally Determined Contributions (NDCs). Less than 5% of global climate finance is targeted to agricultural sector and, even much less to smallholder farmers.
National workshop: Climate finance for agriculture in Nigeria
CTA recently commissioned a national study to review NDCs and related policy frameworks of Nigeria, identify level of implementation of NDCs, assess the profile of agriculture and the engagement of agricultural stakeholders in the implementation of the NDCs, identify emerging opportunities and specific appropriate climate financing models for agriculture in the country. The national stakeholder workshop is being convened by the Federal Ministry of Environment and CTA discuss key options to promote climate finance for agriculture in general and CSA in particular in Nigeria. Stakeholders expected at the meeting include officials from the ministries of Environment; Agriculture and Rural Development; Finance & Economic Planning. Others include representatives of farmers’ organisations, commercial banking sector, agro-allied businesses, NGOs, development organisations.
Federal Ministry of Environment Abuja