Oxfam Urges Nations to Fulfill COP27 Financial Pledges

Oxfam has called on developed nations to redeem their financial commitments made during the 27th Conference of Parties (COP27) to support low and middle-income countries in tackling climate change.

Speaking at a two-day workshop in Port Harcourt, Oxfam’s Program Manager for Accountable Governance in Nigeria, Henry Ushe, emphasized that while Nigeria has developed a gas master plan and passed the Climate Justice Act, financial backing remains insufficient. He urged donor countries to honor their $100 billion annual pledge, noting that much of the funds delivered so far have come in the form of loans, increasing debt burdens for vulnerable nations.

Mr. Lawrence Dube of Natural Justice called for regulatory agencies to align gas plans with climate goals, while Civil Society National Regulation Council Chairman, Harry Udoh, urged the government to accelerate gas infrastructure development and expand virtual gas pipelines.

The workshop, organized by the Civil Society Legislative Advocacy Center (CISLAC) with Oxfam’s support, also highlighted the need for stronger partnerships to enhance regional energy security.