Nigeria losing millions in carbon credit earnings to foreign experts over talent gap — Expert warns
By Cynthia Alo Nigeria risks losing hundreds of millions of dollars in potential carbon credit earnings to foreign consultants and technical experts unless it urgently develops the skilled workforce needed to participate in the rapidly expanding global carbon market, a climate finance expert has warned.
The Africa Carbon Market Initiative estimates that the continent is producing just about 2 percent of its potential carbon credit volume despite having the capacity to generate up to two billion tonnes of carbon credits annually by 2030, representing a market opportunity of between $30 billion and $50 billion.
The warning comes at a time when carbon credits are emerging as one of the fastest-growing segments of global climate finance, with analysts projecting the global voluntary carbon market to grow from about $5.
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