Nigeria launches new climate policyNigeria
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Nigeria has developed a plan targeted at making the country’s Carbon Neutral by 2025 as part of efforts at fighting environmental related issues.
The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke who disclosed this in Houston Texas recently at an International Conference on Energy and Climate Policy organized by the James Baker Institute for Public Policy Rice University, noted the need for Nigeria to re-strategize on sustainable policies for the sector.
The minister said the country’s over 50 years experience in the oil and gas industry has continued to expose the complex dynamics of balancing global energy security, domestic economic growth, climate and environmental considerations. As such she states “We have realized the importance of a holistic approach to policy formulation and we are making significant effort in this respect.”
Citing examples, Alison-Madueke noted that recent events such as the extraordinary heat wave in Russia, flooding in Pakistan, oil spill in the Gulf of Mexico and the noticeable seasonal patterns in Nigeria, all point to a rapidly evolving climatic and environmental trend many of which cannot be separated from global warming for which the operations or products of the oil and gas industry have been partly held responsible.
Based on these factors, the petroleum minister revealed that the government as a signatory to the Kyoto protocol has recently developed a Draft Policy to address climate change in Nigeria. She said “Our Draft Policy focuses on the following: adaptation, mitigation, finance and technology.’’
Also she disclosed that the country is leveraging on the Clean Development Mechanism, CDM to access funds for major projects. So far she informed the country has benefited from the Agip Okpai Combined Cycle power plant and the Pan Ocean gas plant with plans to list more projects to benefit from this scheme in the nearest future.
Nigeria is currently the world’s 12th biggest supplier of crude oil with crude oil reserves of 37 billion barrels and a production capacity of three million barrels per day. With gas reserves of about 187 trillion cubic feet and an estimated 600 trillion cubic feet of undiscovered gas, Nigeria.
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