The Ministry of Industry, Trade and Investment is in discussion with the International Finance Corporation (IFC) to establish carbon markets across the country.
The aim is to guarantee economic and sustainable industrial growth.
Dr Jumoke Oduwole, the Minister of the sector, disclosed this when she was featured in a ministerial briefing by the Ministry of Information and Cultural Orientation on Tuesday in Abuja.
Dr Jumoke explained that a carbon market is a trading system that allows companies and individuals to buy and sell carbon credits, to offset their greenhouse gas emissions. “It is also a tool to help fight climate change.
“I thought carbon market was quite important and it is a discussion that should be able to also provide an appropriate response to alternative energy,” she said. According to the minister, the ministry has the mandate to create and maintain an enabling environment and regulations for the development and expansion of industry, trade, and investment.
“Therefore, this ministry facilitates the development of Nigerian businesses regulatory and policy-wise, for it to be able to thrive,’’ she said.
She said that the ministry was committed to ensuring that manufacturers get maximum support from the government.