From July 16 to 19, 2019, Nigeria held a 4-day workshop to initiate the Investment and Financial Flow assessment (IFF) of its NDC sectoral plan.
The workshop started with an inter-ministerial dialogue to build buy-in and ownership from key line ministries and agencies (MDA) on the financial assessments. Nigeria chose 5 priority sectors of the NDC to focus the I&FF assessments on: Oil and Gas, Transport, Energy, Industry and Agriculture. Subsequently, a 3-day training was delivered to the technical staff of these MDA and to independent national climate change experts who will be conducting the assessment. The training was conducted by Susanne Olbrisch, Climate Change Policy Specialist with UNDP NDC Support Programme.
The Investment and Financial Flow (I&FF) methodology was developed by UNDP in 2008 to assist countries in assessing the investment needs of climate adaptation and mitigation measures, as well as to build a financial plan on how to leverage the required finance. The methodology is a living document and is being refined based on country experiences. To date, close to 20 countries have used it.
In Nigeria, the tool will be used to get a better understanding of the investment gap between the current development trends in the 5 sectors without the low carbon measures proposed in the NDC sectoral plan and with the low carbon measures. At the end of the assessment, Nigeria will be able to quantify more accurately its NDC investment needs and to more confidently approach public and private investors.
Workshop participants pose for a group photo. UNDP. Nigeria.
This is part of the UNDP NDC Support Programme in Nigeria funded by the European Union, the governments of Germany and Spain with contribution from the government of Nigeria. The programme works in contribution to the NDC Partnership.