Firm partners FG on $3bn Carbon Market Goal

OXYTANE Africa Investment Limited has expressed readiness to partner with the Federal Government to achieve Nigeria’s $3 billion annual carbon market target following the approval of the national carbon market framework and activation of the climate change fund. The firm’s Managing Director and Chief Executive Officer, Tamarankro Jjuliano Obriki, who disclosed this restated its commitment […]

OXYTANE Africa Investment Limited has expressed readiness to partner with the Federal Government to achieve Nigeria’s $3 billion annual carbon market target following the approval of the national carbon market framework and activation of the climate change fund.

The firm’s Managing Director and Chief Executive Officer, Tamarankro Jjuliano Obriki, who disclosed this restated its commitment to helping the country reduce its carbon footprint and strengthen its environmental sustainability efforts.

He said the firm is already working with the National Environmental Safety and Regulatory Enforcement Agency (NESREA) to reduce industrial emissions through its tested solutions.

He added that it is also partnering with NNPC Retail Limited for nationwide distribution of the company’s fuel additive product.

 

 

 

He lauded President Tinubu for demonstrating leadership and commitment to the Paris Agreement by approving the national carbon market framework, describing the move as a major milestone toward decarbonizing Nigeria’s energy sector.

 

 

 

“Nigeria remains 95 percent dependent on hydrocarbon-refined fuels like most developing nations, so it is imperative that certified emissions reductions are collated and traded as carbon credits to protect the environment and save lives,” Obriki said.