Last Updated on March 24, 2025 by Olasunkanmi Olajide
By Femi Dansu
The Federal University of Agriculture, Abeokuta (FUNAAB) has signed a Memorandum of Understanding (MoU) with a leading climate-tech firm, Carbon Credit Exchange Company, to develop a groundbreaking carbon credit initiative. The agreement is set to produce 300,000 high-quality tree carbon credits from African Indigenous economic trees on FUNAAB land, reinforcing the University’s commitment to sustainable environmental practices.
Carbon Credit Exchange Company is a climate-tech firm incorporated under Nigerian law, specialising in Africa’s carbon market trading, nature-based carbon dioxide removal, and other carbon credit exchange services. Through this partnership, FUNAAB, as the carbon tree owner, would provide green infrastructure in the form of indigenous trees, which would be leveraged for carbon credit generation.
The MoU has established a strategic collaboration between CO2 Carbon Credit Technology and FUNAAB, combining resources, expertise, and operations to generate, verify, and register carbon credits on the CO2 Carbon Credit Exchange platform. The initiative was designed to align with global carbon standards while enhancing Nigeria’s participation in the carbon market.
Speaking on the significance of the partnership, the Team Lead of Carbon Credit Exchange Company, Mr. Stanley Ademabowa, explained that carbon credits provide a system where individuals or organisations could offset their carbon footprint by purchasing carbon credits, which serve as a reward mechanism for mitigating environmental pollution. He emphasised that the MoU marked a first-of-its-kind initiative with FUNAAB, setting a precedent for similar collaborations with other universities.
Earlier, while welcoming the delegation, the Vice-Chancellor, Prof. Babatunde Kehinde, expressed optimism about the partnership, noting its immense potential for mutual benefits and environmental sustainability.
Present at the MoU signing were key University officials, including the Deputy Vice-Chancellor (Development), Prof. Kola Adebayo; Registrar, Dr. Titus Adeniyi; University Librarian, Prof. Abayomi Owolabi; Director, FUNAAB Integrated Ventures (FIV), Mr. Olufisayo Amubode, and the Deputy Registrar I, Vice-Chancellor’s Office, Mr. Moses Ayanda.
Others were the Principal Assistant Registrar, Vice-Chancellor’s Office, Mrs. Olubusayo Oguntayo; University Legal Officer, Mrs. Olanrewaju Tanimowo and Mr. Adekunle Adebiyi.
