Buhari signs climate change bill into law

By Nneka Nwogwugwu

President Muhammadu Buhari has signed the Climate Change bill into law.

The president’s spokesperson, Garba Shehu made this known on Thursday.

According to Shehu, the Climate Change Act was sponsored by a member of the House of Representatives, Sam Onuigbo, and provides for, among other things, the mainstreaming of climate change actions and the establishment of a National Council on Climate Change.

The Act also makes provision for environmental and economic accounting and a push for a net zero emission deadline plan in the country.

Buhari also signed the Asset Management Corporation of Nigeria (Amendment) Act into law.

The AMCOM Act provides for the extension of the tenor of the Resolution Cost Fund and grants access to the Special Tribunal established by the Banks and other Financial Institutions Act 2020, which confers on the corporation the power “to take possession, manage, foreclose or sell, transfer, assign or otherwise deal with the asset or property used as security for eligible bank assets and related matters.’’

“This, in effect, will help AMCON make recoveries and for debtors to fulfil their commitments to banks,” Shehu concluded.