Does the Finance Bill 2022 advance Nigeria’s ESG Ambition?
The Federal Government of Nigeria reintroduced the annual Finance Bill in 2019 as a tool to effect fiscal changes that will drive the country’s short to medium term macroeconomic objectives.
Three of such bills have been signed into Acts so far and the fourth, the Finance Bill 2022, is expected to be signed soon. It is heartwarming that Nigeria has made commitments to contributing to an environmentally and socially sustainable world through various declarations and partnerships in the past few years.
During COP 26 in Glasgow in 2021, the Nigerian government reaffirmed its commitment to achieving net zero by 2060. Sequel to that, the Nigerian Energy Transition Plan (ETP) was launched in August 2022. Also in 2021, the Climate Change Act was passed. The Act seeks to provide a framework for achieving reduced carbon emissions and incorporate climate consciousness into national programmes.
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Esiri Agbeyi
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