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Fidelity leads other banks to publish Sustainability, Climate Report

Michael Simire
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Fidelity leads other banks to publish Sustainability, Climate Report

Fidelity Bank Plc has emerged the first bank to publish its 2023 ISSB-Compliant Sustainability and Climate Report in the Nigerian banking industry.

Fidelity Bank
Fidelity Bank branch office

Hosted on the bank’s website on June 30, the report provides insights into the Bank’s Governance, Strategy, Risk Management and Metrics.

It also provides targets around Sustainability and Climate-related risks and opportunities, human capital, community efforts, amongst others in the 2023 financial year.

Mr Mustapha Chike-Obi, Chairman, Board of Directors, Fidelity Bank, in the report, said that 2023 marked a pivotal point in the Bank’s sustainability journey.

Chike-Obi stated that the Bank, in the year under review, became a signatory of the UN Environment Programme Finance Initiative (UNEP FI), Principles for Responsible Banking (PRB) and the UN Women’s Empowerment Principles (WEP).

He explained that these associations go beyond mere statements of membership, adding that they actively integrated sustainability and climate-related goals into the bank’s core business strategy and daily operations.

According to him, the document, which is prepared in accordance with the requirements of IFRS S1 and S2, highlights the bank’s achievements and aspirations as pacesetters within the financial services sector.

“We believe innovation and transparency are essential for building trust in our strategies and achievements.

“As we progress towards sustainability, we remain committed to our diverse stakeholders including our dedicated workforce, esteemed shareholders and valued customers,” Chike-Obi said.

Speaking on the bank’s strategy on Sustainability and Climate Change, Mr Kevin Ugwuoke, Executive Director/Chief Risk Officer, Fidelity Bank Plc, said that the report detailed the bank’s commitment to continually situate ESG.

Ugwuoke mentioned that the bank was also committed to climate-related risks and opportunities’ considerations at the core of its business operations and activities.

He said: “This is as we constantly explore means of meeting our corporate objectives in a manner that significantly reduces the negative environmental and social effects.

“We are glad to be the first bank to publish its report as this emphasises our market leadership in the sustainability space and we commit to do more to increase our positive impacts in all aspects of sustainability.”

Fidelity Bank is a full-fledged commercial bank with over 8.3 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.

The bank was recently listed amongst the top Nigerian banks in ESG performance, according to a survey commissioned by the Independent Project Monitoring Company (IPMC) Ltd.

By Rukayat Adeyemi

Organisation plants 1,000 trees to combat climate change in Yobe

Michael Simire
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Organisation plants 1,000 trees to combat climate change in Yobe

Save the Children International (SCI) on Friday, July 5, 2024, inaugurated a 1,000-tree planting campaign across 10 schools in Yobe State.

Tree planting
Tree planting by Save the Children International (SCI) in Yobe

The Field Manager of SCI, Yobe, Mr Mark Umaru, said that the initiative, which would be executed in three local government areas of Potiskum, Fika, and Fune aimed at combating climate change and reviving livelihood activities in the state.

Umaru said: “There is the need for collective action to address climate change, which poses a significant threat to the world, Nigeria, and Yobe State.

“The negative impacts of climate change include displacement, crisis and loss of livelihood.

“This initiative, which includes planting of economic trees like mango, cashew and guava, aims at contributing to reviving livelihood activities.”

According to him, the trees will serve as windbreakers to mitigate the impact of strong winds and reduce damage to infrastructure.

Umaru noted that to ensure the growth and survival of the trees, SCI had trained School-Based Management Committee members and community volunteers on proper tree management.

He said that it had also established a regular inspection and monitoring mechanism.

The field manager appreciated the support of the Yobe government on the programme, while calling on all stakeholders, development partners, and the state government to continue promoting interventions to mitigate the impact of climate change.

The Headmistress of Mamudo Primary School, Hajiya Hajara Madaki, commended SCI for the gesture, and called on other development partners to emulate the same gesture.

The Chairman, School-Based Management Committee, Malam Ya’u Mamudo, assured that the committee would ensure the growth and survival of the trees.

By Ahmed Abba

Nigeria can still meet some SDG goals using targeted approaches – NESG

Michael Simire
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Nigeria can still meet some SDG goals using targeted approaches – NESG

The Chief Executive Officer (CEO), Nigerian Economic Summit Group (NESG), Mr Tayo Aduloju, says with targeted approaches, Nigeria can still meet some of the Sustainable Development Goals (SDGs) indicators.

SDGs
The Sustainable Development Goals (SDGs)

Aduloju said this on Friday, July 5, 2024, in Abuja, at a news conference to announce the Policy Innovation Center’s (PIC) annual Gender and Inclusion Summit.

According to him, though Nigeria is not on course to meet the SDGs target set for 2030, there are few indicators it can reach because as there are 17 SDGs with 169 targets and indicators.

“I would say right now we are not on course to reach anyone, but we can still achieve some milestone going forward.

“For example, we can turn around birth registration in 12 months; there are a few other indicators that I think Nigeria can reach.

“We have recommended a mother and child compact between the Federal Government and the Minister of Health and Social Welfare seems willing to push it.

“This is because we think that if we met those ones, some of the SDGs will be met automatically,” he added.

According to Aduloju, there is a parallel relationship between multi-dimensional poverty and gender inequality, with countries performing poorly on the Global Gender Report also exhibiting high severe multi-dimensional poverty.

He said that multi-dimensional poverty encompasses deprivations in health, education and living standards.

“The World Bank points out significant gender disparities in labour participation in Nigeria, with about 65.5 per cent of men participating compared to around 52.1 per cent of women.

“The National Bureau of Statistics indicates that about two-thirds of Nigerians are multi-dimensionally poor, lacking income and basic amenities like healthcare, education, and clean cooking fuels,” he said.

He added that conflict, climate change, inflation, and increasing food prices were among the pathways contributing to the rise in high food insecurity and malnutrition rates.

He, however, said that the solution remains a collective effort by all stakeholders to tackle the issues as it could no longer be achieved by government alone.

On her part, the Executive Director, PIC, Mrs Osasuyi Dirisu, said that Nigeria was facing unprecedented times owing to a weak and non-inclusive economy, volatile macro-economic environment, security challenges and weak economic competitiveness.

She, however, said that addressing poverty in Nigeria could not be business as usual.

“Ending poverty and reducing inequality are part of the SDGs and a wide range of approaches have been identified to reduce poverty and inequities.

“To design effective poverty reduction programs, it is important to understand pathways to poverty, evidence-based approaches that work and linkages to multi-sectorial inequities.

“We need to identify what works for poverty reduction in Nigeria and sustain the commitment to poverty reduction by intentionally designing and implementing contextually relevant solutions driven by a policy enabling environment,” Dirisu said.

Speaking about the summit, she said that it would hold from Sept. 4 to Sept. 5 with “Reimagining Gender-Inclusive Pathways and Partnerships for Poverty Reduction” as theme.

She said that the summit was expected to explore the impacts of multi-dimensional deprivations on health, education, livelihood, and living standards.

Conceptualised in 2022, the summit is an annual event to provide an inclusive platform to explore transformative ways to advance gender equity, inclusion and gender-responsive governance in Africa.

The 2024 summit is expected to leverage the collective power of government, development partners, civil society, academia, and the private sector, highlighting the importance of strategic partnerships for inclusive development.

The PIC, an initiative of NESG is an institutionalised behavioural initiative in Africa supporting the delivery of better policies and innovative solutions for social impact.

By Folasade Akpan

Coordinated subnational climate action: Key to Nigeria’s sustainable development – SPP

Michael Simire
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Coordinated subnational climate action: Key to Nigeria’s sustainable development – SPP

The Society for Planet and Prosperity (SPP), a civil society organisation (CSO) led by foremost Professor of Environment and Governance, Chukwumerije Okereke, has said that Nigeria can leverage on coordinated climate action at the subnational level to achieve sustainable development.

Nnaemeka Oruh
Nnaemeka Oruh, Senior Policy Analyst, SPP

This assertion was made by Nnaemeka Oruh, Senior Policy Analyst, SPP, during an interview at the Democracy Radio, Abuja, on Tuesday, July 2, 2024.

While clarifying that the impacts of climate change are mostly felt at the State and Local Government levels, Mr. Oruh bemoaned the fact that not so much is being done at the subnational level to address the long-standing climate change issues which range from desertification and land degradation to flooding and erosion in the north, and in the south respectively.

He stated that, in order to fully grasp the extent of climate change impacts and the resultant actions being taken at the subnational level to address them, the Society for Planet and Prosperity (SPP) embarked upon a research in close collaboration with the Department of Climate Change (DCC) of the Federal Ministry of Environment, and the Nigeria Governors Forum (NGF) in 2023 to produce a first-of-its-kind survey of subnational climate impacts entitled “Climate Impacts, Policies, and Actions at the Subnational Level in Nigeria” which was launched in November by the Minister of State for Environment, Dr. Iziaq Adekunle Salako, in the company of the Director General of the Nigeria Governors Forum, and other stakeholders.

Mr Oruh said: “To further measure the extent of climate action and governance at the subnational, SPP, in collaboration with the DCC, has just concluded a ranking survey scheduled for launch in Abuja on July 25, 2024.”

According to him, the ranking survey graded all the 36 states’ climate action performances using five criteria: administrative institutions; policy and action plan; budget and finance; implementation, monitoring, and evaluation; and online visibility.

He said the ranking survey, set to be launched, is aimed at gauging the extent of states’ performances in order to identify where gaps exist so that stakeholders can then take action in closing them. He attributed a success story from the mapping exercise done last year as instrumental to the current effort to help Enugu and Taraba states develop comprehensive climate change action plans.

While regretting that climate action is not given the level of importance and urgency it deserves by the government and people of Nigeria, Oruh said that ironically, by advancing climate action, Nigeria can actually address most of her developmental and everyday needs.

Oruh highlighted few recommendations for Nigeria to take climate action and consequently tackle some of her developmental and everyday needs: increase existing level of investments in renewable energy to address the perennial energy crisis in the country; provide clean cooking options for rural women to save them from health implications of unclean cooking; leverage on climate-smart agricultural practices to address food insecurity; provide jobs; and address the insecurity that comes from fighting over scarce arable lands, among others.

“Nigeria’s subnational comprising of 36 States and the Federal Capital Territory, together with its 774 Local Government Areas suffer from a disconnect between federal policies and subnational implementation,” he emphasised.

In closing, the Climate Change Policy Analyst said: “SPP believes that there is need for proper coordination between the federal and the subnational with subnational climate actions linking with the global and federal, but also reflecting the unique needs of each component of the subnational. This coordinated action is the only way Nigeria can meet her climate change goals and also leverage on the process to engender sustainable development.”

ARC Group makes $32m climate insurance payouts to assist drought affected Zimbabweans

Michael Simire
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ARC Group makes $32m climate insurance payouts to assist drought affected Zimbabweans

The Government of the Republic of Zimbabwe has received an insurance payout of $16.8 million following its participation in the African Risk Capacity (ARC) Group disaster financing mechanism, designed to help African Union (AU) member states plan, prepare and better respond to extreme weather events.

ARC Group
Payouts handover ceremony. The combined payouts will complement in-country recovery efforts and help communities and governments to better respond to and recover from climate-related shocks.

The payout comes at a time when the country is facing severe food insecurity following a prolonged dry spell largely triggered by the prevailing El Niño conditions in the region. The fund will be used to support recovery efforts and help the government reach the most affected populations.

Severe crop failures were experienced around the country because of the drought. According to Africa RiskView, ARC’s technical software for early warning and monitoring, just over 4.7 million people were affected, triggering the payouts.

Through the Replica programme, a strategy which allows humanitarian actors to purchase insurance policies on behalf of a country, Replica partners, the United Nations World Food Programme (WFP) and Start Network received payouts of $6 million and $8 million respectively. The combined payouts will complement in-country recovery efforts and help communities and governments to better respond to and recover from climate-related shocks.

Speaking during the payout ceremony, Mthuli Ncube, Zimbabwe’s Finance Minister, said, “This payout ceremonies marks a monumental occasion in our joint endeavours to mitigate the negative impacts of climate change and solidify our nation’s resilience to this threat. The payout will help 509,000 vulnerable households in 27 districts, and our goal is to reach and cover even more people in the coming seasons.”

The payouts, made by ARC Limited (ARC Ltd.), the insurance affiliate of the ARC Group responsible for risk pooling and transfer, will help the affected populations to recover from a failed 2023/2024 agricultural season. Insurance taken out with ARC Ltd avails predictable finance to facilitate response to disaster events.

“I commend the Government of Zimbabwe for their prudent decision to collaborate with the ARC Group to mitigate the impacts of drought in the country. Today, we gather to showcase ARC’s interventions to this historic and unprecedented drought in the history of the country,” said Dr Anthony Mothae Maruping, ARC Group Chairperson.

“We are honoured to stand with the Government of Zimbabwe and our partner organisations during this time of crisis”, said Lesley Ndlovu, CEO of ARC Ltd. “The impact of such disaster events goes beyond the immediate socio-economic costs and compounds the vulnerability of many farming communities. The insurance payouts are testament of the value of the ARC instrument in facilitating early response.”

“We are deeply concerned by the severe drought that is affecting Zimbabwe and the suffering it is causing, we are grateful to our donors for enabling our support for the ARC Replica programme. We value the strong collaboration with ARC Ltd. and the Government of Zimbabwe in jointly tackling this emergency. Alongside Start Network members, we are committed to effectively serving the people of Zimbabwe through these challenging times,” said Anna Farina, Start Network’s Head of Crisis Anticipation and Risk Financing.

“Individuals and communities who contribute the least to the climate crisis are bearing the brunt of its impacts, with limited means to cope,” said Lola Castro, acting WFP regional director for southern Africa. “Through pre-arranged financing triggered by pre-identified risk parameters, ARC Replica offers timely humanitarian assistance that can limit the impact of a crisis.”

“The ARC payout is a vital lifeline for communities in Zimbabwe facing the devastating impacts of the El-Nino-induced drought. This time support will enable us to provide essential food assistance and prevent negative coping strategies, ensuring that vulnerable populations can withstand the difficult circumstances,” said Francesca Erdelmann, WFP Country Office and Representative for Zimbabwe.

The Final Implementation Plan, developed as part of the ARC contingency planning process, will guide the use of the payout, and assist millions of people in the affected regions. Zimbabwe will the payout to support relief efforts and rebuild livelihoods while WFP and Start Network will use the disbursement received to support this response.

“The southern African region received less than 20% of its typical rainfall, resulting in one of the driest growing seasons. The impact on the agricultural sector has been devastating,” said Ibrahima Cheikh Diong, UN Assistant Secretary General and ARC Group Director General.

“The ARC Group stands with the Government of Zimbabwe that continues to demonstrate its willingness to strengthen its preparedness to respond to such catastrophes,” he continued.

Zimbabwe’s participation in ARC climate risk insurance was made possible by an insurance premium paid in part by the government, with premium support contribution from the Swiss Agency for Development and Corporation (SDC); the KfW Premium Finance Facility; and the Africa Disaster Risk Financing Programme Multi-Donor Trust Fund (ADRiFi-MDTF).

The ADRiFi-MDTF is a framework developed as a collaboration between the African Development Bank and the ARC Group.

Reviewing ACs’ energy performance standards will improve living standards, drive industrialisation – SON

Michael Simire
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Reviewing ACs’ energy performance standards will improve living standards, drive industrialisation – SON

The Standards Organisation of Nigeria (SON) has said that reviewing Nigeria’s minimum energy performance standards (MEPS) for air conditioners (ACs) will significantly improve Nigerians’ living standards and drive industrialisation.

Standards Organisation of Nigeria (SON)
A cross section of stakeholders during the awareness technical workshop on Minimum Energy Performance Standards for ACs in Lagos State

Assistant director and senior group head of the electrical electronic department at SON, Ismaila Lawal, made this assertion in Lagos on Wednesday, July 3, 2024, during a technical workshop for AC manufacturers, importers, assembly companies, installers and other stakeholders. The event was organised by SON in collaboration with the Energy Commission of Nigeria (ECN) and the United Nations Environment Programme (UNEP), with financial support from the Clean Cooling Collaborative (CCC).

Lawal stated that revising the existing standards to align with international benchmarks would enhance energy efficiency and promote climate-friendly air conditioners in Nigeria.

“We review standards when there is a government policy change or advancement in technology. The old air conditioners consume a lot of energy and electricity and for the sake of energy management, we need to update these standards to ensure Nigeria is not left behind and not turned into a dumping ground,” he explained.

He highlighted the importance of aligning Nigeria’s standards with international ones, stating, “We have participated at the international level where these standards are being reviewed, so we need to domesticate them in Nigeria. This ensures that whether the air conditioners are locally manufactured or imported, they meet the international standard.”

Discussing the implementation process of the revised MEPS for ACs, Lawal mentioned that the technical committee had recently met in Abuja. The reviewed standards will be submitted to the SON Director-General, who will then present them to the SON Governing Council for approval.

“It is crucial to ensure manufacturers, importers, and all stakeholders comply with these standards once approved. This includes protecting the environment by regulating the refrigerants used in ACs,” he added.

Deputy director of the energy transition and linkages unit at ECN, Samaila Gambo Zaku, explained that the review of AC MEPS for Nigeria was driven by the impact of climate change and the role of energy in exacerbating it.

“ACs are significant energy consumers. Using efficient ones will reduce energy consumption and help save the environment,” he stated.

The workshop aimed to create awareness among manufacturers, producers, importers and assembly companies about the revised standards.

National secretary of the Nigerian Association of Refrigeration and Air Conditioning Practitioners (NARAP), Wasiu Kadiri Abiodun, expressed optimism about the impact of the revised AC MEPS. He emphasised that proper implementation would benefit all citizens by reducing the prevalence of substandard materials in the market.

“The market is rife with substandard materials. If these standards are implemented well, it will be immensely beneficial,” he said.

On the affordability of energy-efficient air conditioners, Abiodun pointed out that quality products, though slightly more expensive, offer better value for money.

“Quality products are more durable and provide better value over time compared to cheaper, lower-quality options,” he asserted.

Vice-president of the Nigeria Working Committee of the International Electrical Technical Committee (standard), Gufrah Shuaib, explained that Nigerians would save energy and gain economically by embracing energy-efficient air conditioners.

“Nigerians import about 1 million ACs annually, each consuming around 100,600 watts. Reducing this consumption will free up energy for other sectors,” she explained.

In his opening remarks at the workshop, SON director-general, Dr. Ifeanyi Okeke, emphasised the dynamic nature of standards, noting the need for periodic updates to improve efficiency and safety. Represented by deputy director of lab services Mr. Adeyinka Adetoyi, he commended ECN, UNEP and CCC for driving the MEPS review process and called for increased awareness to ensure broad compliance with the new standards.

UNN centre mobilises stakeholders to support implementation of carbon tax in Nigeria

Michael Simire
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UNN centre mobilises stakeholders to support implementation of carbon tax in Nigeria

The Resource and Environmental Policy Research Centre, Environment for Development (EfD) Nigeria, in collaboration with EfD Ghana, hosted a technical workshop that examined   the prospects and challenges of carbon tax implementation and fuel subsidy removal in Nigeria and other African countries.

Carbon tax
Participants at the EfD technical workshop in Abuja

The event, which held in Abuja on Thursday, July 4, 2024, attracted key stakeholders from Nigeria’s Ministry of Budget Planning, the academia, Federal Ministry of Environment, private sector entities, civil society organisations, and representatives from the government of Ghana.

The primary focus of the workshop was to disseminate findings from a joint study conducted by EfD Nigeria and EfD Ghana on “stakeholder perspectives regarding the removal of fuel subsidies and the implementation of carbon taxes in Nigeria”.

The workshop initiative came at a time that Nigeria, through the National Council on Climate Change (NCCC), seeks to fortify its environmental policies with carbon finance mechanisms in line with the provisions of the Climate Change Act.

Speaking at the occasion, the Ag. Vice-Chancellor of the University of Nigeria, Prof. Romanus Ezeokonkwo, highlighted the workshop’s timeliness amidst global dialogues on climate change mitigation.

The Vice-Chancellor, who was represented with the Deputy Vice-Chancellor, UNEC, emphasised the necessity of practical policy measures such as carbon taxation to curtail greenhouse gas emissions.

Dr. Moses Ama, who represented the Nigerian government, expressed government’s openness and support for developing an efficient carbon taxation framework. He stressed the government’s commitment to ensuring that the initiative benefits all sectors of society, particularly focusing on strategic investments to alleviate potential adverse effects on low-income populations.

Prof. Nnaemeka Chukwuone, the Director of the Resource and Environmental Research Centre, EfD Nigeria, UNN, said that the research’s objective is to provide evidence-based advice to the Nigerian government in formulating a comprehensive carbon taxation framework.

He said that his Centre would partner with the NCCC to develop Nigerian framework on carbon market and carbon tax regime with the objective to mitigating the impact of climate change by contributing to global reduction of Greenhouse Gas emission

Speaking on the topic “Determining the optimal carbon pricing policy for Nigeria”, Prof Chukwuone said that research evidence showed that implementing production and consumption carbon taxes simultaneously would have a strong negative impact on Nigeria’s GDP and household incomes.

He advised that preference should be given to consumption carbon taxes in the short term, while production taxes can be introduced later and possibly in a gradual manner to allow the economy to absorb each round of the change.

Dr Chizoba Oranu, who presented the findings of the study on “Stakeholder perspectives regarding the removal of fuel subsidies and the implementation of carbon taxes in Nigeria”, stated that there was an overall consensus by stakeholders that Nigeria should implement carbon taxes due to its benefits in achieving the Nationally Determined Contribution (NDC) agreement and the financial incentives for sustainable energy access as well as mitigating climate change.

However, the stakeholders, according to Dr Oranu, emphasised the need for public awareness on the initiative, effective collaboration between the government and other stakeholders and implementing carbon tax only for emitters, not everyone.

Rex Asima and Daniel Lamptey, delegates from EfD Ghana, provided insights into stakeholders’ perspectives on fuel subsidy implementation in Ghana. They also addressed the challenges and opportunities associated with introducing carbon taxes in Ghana, highlighting parallels and divergences with Nigeria’s context.

Mr. Abass Ibrahim Tasunti, representing the Government of Ghana, shared Ghana’s experiences with deregulating petroleum prices, shedding light on the lessons learned and future strategies for managing economic and social impacts.

Nigeria gets nod to host African Energy Bank

Michael Simire
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Nigeria gets nod to host African Energy Bank

Nigeria has been granted the hosting right for the African Energy Bank (AEB) after beating Ghana, Benin Republic, Algeria, South Africa and Cote D’Ivoire in a keenly contested bidding.

African Energy Bank
L-R: Permanent Secretary, Ministry of Petroleum Resources, Amb. Nicholas Ella; Minister of State for Petroleum Resources (Oil) Sen. Heineken Lokpobiri; and Nigeria’s Consultant on African Energy Bank, Mr Sulaiman Yahaya, at the APPO Extraordinary Meeting of Ministers to decide the location of the Bank

Sen. Heineken Lokpobiri, the Minister of State, Petroleum Resources (Oil), told newsmen in Abuja on Thursday, July 4, 2024, that the award of hosting right for the bank highlighted Nigeria’s robust energy sector.

He said: “The award of the hosting right also highlights the country ‘s strategic vision for Africa’s energy future.”

Lokpobiri expressed gratitude to President Bola Tinubu for the support extended during the course of the bidding.

He also thanked the Council of Ministers of the African Petroleum Producers Organisation (APPO) for the confidence in Nigeria’s capability.

The minister highlighted the collaborative spirit of the APPO members and their shared vision for a united, energy-secured Africa.

He emphasised that “this decision reflects our collective ambition to create African solutions to Africa’s energy challenges.

“The African Energy Bank will be instrumental to providing the necessary financial backbone for energy projects that will drive growth and development across the continent.

“The decision is a significant step for the continent’s energy sector and underscores Nigeria’s pivotal role in Africa’s energy landscape.”

The minister assured Nigerians and Africans at large that the establishment of the African Energy Bank would mark a transformative era in meeting energy needs.

He said that the initiative aligned with the broader objectives of African Union’s Agenda 2063, aiming for a prosperous and self-sustaining Africa.

“We are committed to ensuring that the bank did not only move Nigeria forward but becomes a beacon of progress for the entire continent.

“Our goal is to foster sustainable energy solutions that are both innovative and inclusive.”

The bank is expected to facilitate access to funding for energy projects, thereby catalysing economic growth and enhancing energy security.

By Emmanuella Anokam

Climate change: Govt to tax Nigerians on carbon emission

Michael Simire
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0
Climate change: Govt to tax Nigerians on carbon emission

The Federal Government has urged relevant stakeholders to embrace carbon tax to help tackle climate change in the country.

Generator Pollution
The WHO says that, in one year, 46,750 persons died as a result of outdoor pollution in Nigeria

Prof. Romanus Ezeokonkwo, Acting Vice Chancellor, University of Nigeria, Nsukka, (UNN), said this on Thursday, July 4, 2024, at a stakeholders’ workshop on “Understanding the Incentives and Obstacles to Effective Carbon Tax Regimes in West African Countries.”

Ezeokonkwo described carbon taxation as a cost charged on the amount of carbon emissions into the space.

He said that the Federal Government through the development which was introduced by the National Council on Climate Change (NCCC) was developing a framework to determine the amount to be charged based on the quantum of emissions.

He said that the Federal Government, through the NCCC, was devising strategies to implement a robust carbon finance (carbon market framework and carbon tax regime) for the country in line with the Climate Change Act.

This, he said, followed the ongoing global dialogue on climate change mitigation, which emphasises the necessity of reducing greenhouse gas emissions through practical policy measures such as carbon taxation.

The Vice Chancellor called on the stakeholders to ensure that they sensitised the public to buy into the government plan.

“The theme of today’s workshop is timely as the Federal Government, through the NCCC, is devising strategies to implement a robust carbon finance, carbon market framework and carbon tax regime for the country in line with the Climate Change Act.

“The timing of this workshop is crucial given the ongoing global dialogue on climate change mitigation, which emphasises the necessity of reducing greenhouse gas emissions through practical policy measures such as carbon taxation.

“Your role as stakeholders is crucial. While effective carbon pricing is acknowledged as a powerful tool in the global battle against climate change, getting public support for environmental policies remains a significant challenge in Africa.

“This workshop, therefore, seeks your valuable input from pertinent stakeholders in the realms of carbon pricing and fuel subsidy reforms in Nigeria and Ghana,” he said.

In his remarks, Head, Economic Regulation, National Petroleum Authority of Ghana, Abass Tasunti, stated that Ghana was also on the verge of ensuring that fossil fuel emission was drastically reduced.

Tasunti said that the country’s target was mainly the industries that emit a large-scale carbon.

He, however, said that so far, the country had not arrived at a fixed rate for it.

“The whole essence of carbon taxation, in my view, is to introduce taxes that move people away from the consumption of fossil fuel.

“Policymakers are looking for a way to impose taxes on petroleum products and use them to provide the other alternative fuels.

“If they are done, it will give consumers options because you will agree with me that fossil fuel will not go off immediately.

“These carbon taxation initiatives and cleaner fuel initiatives are supposed to complement the use of fossil fuels,” he said.

By Vivian Emoni

Challenge politicians on environmental protection, others, HOMEF tasks media

Michael Simire
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Challenge politicians on environmental protection, others, HOMEF tasks media

Director, Health of Mother Earth Foundation (HOMEF), Rev. Nnimmo Bassey, has urged journalists to hold politicians accountable for the protection of the environment.

Nnimmo Bassey
Director, Health of Mother Earth Foundation (HOMEF), Nnimmo Bassey

Bassey stated this on Thursday, July 4, 2024, in Benin, during a two-day programme organised by the International Press Centre, entitled: “Media Dialogue and Stakeholders Interface on Credible Edo Governorship Election”.

Presenting a lecture titled: “The People in Edo Governorship Election: What Issues and What Agenda for the Media”, Bassey reiterated that the media should play a crucial role in shaping public discourse during elections.

“As the Edo governorship election approaches, the media must work to ensure that environmental protection becomes a central issue.

“There are issues of gas flaring in areas like Gelegele in Edo, the provision of safe drinking water, illegal mining and protection of the forests.

“The media should ask the governorship candidates how they intend to tackle these challenges if elected governor.

“These are tangible problems that affect the health and livelihoods of the people in Edo and beyond,” he said.

He said that by focusing on environmental issues, journalists could help shift the narrative towards sustainability and long-term well-being.

“The benefits of prioritising environmental protection in political agendas are manifold. A healthy environment leads to healthier communities,” he said.

The programme was supported by the European Union Support to Democratic Governance in Nigeria (EU-SDGNII).

By Joy Odigie

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