By Elochukwu Anieze
In an effort to address the pressing need for sustainable economic development amidst global climate challenges, the Centre for Climate Change and Development (CCCD) at Alex Ekwueme Federal University, in partnership with the World Resources Institute (WRI) based in Washington, DC, is set to unveil pivotal findings from recent national research.
Nigeria, a nation deeply entrenched in the oil and gas industry, stands at a critical juncture with the launch of its Energy Transition Plan (ETP) and a commitment to achieve Net Zero carbon emissions by 2060. As countries worldwide grapple with the imperative shift away from fossil fuels to combat climate change, Nigeria’s journey towards a renewable future is not without significant hurdles.
The forthcoming online event, scheduled for Thursday, March 21, 2024, at 2:00 P.M (WAT), aims to shed light on the multifaceted implications of transitioning from oil and gas on the Nigerian economy. With oil contributing up to 10 per cent of the nation’s GDP and constituting over 80 per cent of total exports, the economic ramifications of this transition are profound.
The research project, led by CCCD in collaboration with WRI, delves into critical questions surrounding revenue distribution, fiscal impacts on government budgets, and the welfare of workers dependent on the oil and gas sector. Through rigorous analysis and modeling, the research offers insightful policy recommendations crucial for steering Nigeria towards a just and equitable transition.
At the forefront of this event are esteemed guests including David Waskow from WRI’s International Climate Initiative, Dr. Salisu Dahiru, Director-General of the National Council on Climate Change, and Hon. Eng. Solomon Bulus Maren, National Coordinator of the African Parliamentary Network on Climate Action. Additionally, Hon. Sam Onuigbo, a distinguished member of the governing Board and Chairman of the Committee on Climate Change of the North East Development Commission, will grace the occasion as a guest of honor.
Professor Chukwumerije Okereke, Director of CCCD, emphasized the significance of the research conducted in collaboration with seasoned international organizations, expressing optimism about the insights and policy recommendations poised to guide Nigeria’s sustainable trajectory.
As the world watches Nigeria navigate the complexities of its energy transition, the forthcoming event promises to offer invaluable insights and strategies crucial for the nation’s economic resilience and environmental stewardship in the face of global climate imperatives.
