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Nigeria’s decarbonization plan risks job loss

Nigeria’s decarbonization plan risks job loss
Photo by Patrick Hendry- Ask Nigeria

It is important to analyze presidential candidates’ policy on energy transition.

The global oil and gas industry is undergoing significant transformations due to unequivocal scientific studies that show the urgent need to reduce global emissions of greenhouse gases (GHGs) that contribute to climate change to net zero by the year 2050. This is consistent with the Paris Agreement and the United Nations Sustainable Development Goals (UN SDGs). However, while the need for a low-carbon economy is incontrovertible, a sudden global divestment from the oil and gas industry may have catastrophic development impacts in Nigeria and the rest of Africa.

Through studies, researchers have expressed the fear that Africa may become the sacrificial lamb for net zero and decarbonization. In countries such as Nigeria where the oil and gas sector contributes to more than 80 percent of the country’s revenue and foreign exchange earnings, a sudden divestment from the sector may result in massive job losses and high unemployment. It may also halt the flow of financing needed to develop critical healthcare, education, water and energy infrastructure, leaving a huge dent on the realization of all aspects of the UN SDGs.

Strong advocate for a just and inclusive decarbonization agenda.

Harvard and Oxford-trained Prof. Damilola Olawuyi, SAN, a globally recognized professor of Energy and Environmental Law and currently a UN Independent Expert, says he is a strong advocate for a just and inclusive decarbonization agenda that balances the interests, priorities and needs of developing countries. Commenting on what the demands of Nigeria should be in this decarbonization agenda, he said that Nigeria should demand that ongoing global emphasis on decarbonization and low carbon energy transitions must be done in a just, inclusive and rights-based manner such that no country is left behind.

Continuing on, he said this should be demanded on the basis that international laws already emphasize the need to achieve the global net-zero goals on the basis on equity and in the context of sustainable development and efforts to eradicate poverty. Additionally, he said that apart from the climate emergency, the world also faces an energy poverty emergency, which Nigeria must never lose sight of. Despite being in 2023, more than one billion people (13 percent of the world’s total population) still currently lack access to electricity. About 600 million of these people are in Africa. Even in Nigeria, constant power supply, reliability and affordability remains key concerns to everyone.

The 2023 election is a chance to analyze candidates’ foreign policy.

Olawuyi says that African countries need to articulate a foreign policy agenda that balances these two equally important priorities. Also, there is a need to harness lower carbon and environmentally preferable transition fuels, such as natural gas, which will help combat the current energy poverty emergency facing the country and the world. The professor says that the forthcoming general election provides an important and timely opportunity to analyze the foreign policy strategies of the leading presidential candidates to see what extent they will be able to achieve a just and equitable deal for Nigeria in the ongoing decarbonization and low carbon energy transition.

He expresses his joy that all the leading president candidates have clearly identified energy security and climate change as urgent priorities for a sustainable and prosperous economic development – a commendable act. However, the professor says he would like to see more of a clear and comprehensive strategy for leveraging the global emphasis on low carbon transition as a tool for attracting climate financing into key sectors of Nigeria. For instance, Article 9 of the Paris Agreement clearly provides that developed countries shall provide financial resources to assist developing countries with respect to both climate change mitigation and adaptation.

Nigeria could key into some international financing mechanisms.

A number of climate financing mechanisms have, therefore, been put in place that if Nigeria leveraged potential sources, it could provide significant inflow of international capital. This could be used to establish Nigeria as a hub for climate technology entrepreneurship and clean energy development projects, such as green hydrogen projects. As an example, in addition to clean technology mechanism and climeta finance funds under the United Nations climate regime, countries such as India, China, Brazil and South Africa are already leveraging climate financing options, such as concessional climate infrastructure loans, green bonds, climate guarantees, and debt for climate swaps from international sources to implement green economic activities in all sectors.


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Admin
1
20 days ago

Nigeria’s decarbonization plan risks job loss – It is important to analyze presidential candidates’ policy on energy transition. – Express your point of view.

Member
8
20 days ago

While there is no disputing the need for a low-carbon economy, a rapid global withdrawal from the oil and gas sector might have disastrous development effects in Nigeria and the rest of Africa.

Member
8
20 days ago

Researchers have raised concern through studies that Africa would end up being the lamb sacrificed for net zero and decarbonization. The finance required to build essential infrastructure for healthcare, education, water, and electricity may also come to a halt, which would seriously hinder the achievement of all UN SDGs.

Member
9
20 days ago

Nigeria’s decarbonization plan risks job loss. Its better we do the needful before putting country to danger of disaster

Member
9
20 days ago

The decarbonization of gas is important because the emission of gases is too much and coupled with the climate effect that is happening globally our government needs to align with international standards in order to reduce the risk.

Member
8
20 days ago

The worldwide oil and gas business is undergoing enormous modifications as a direct result of unambiguous scientific research that demonstrates the critical importance of immediately cutting global emissions.

Member
8
20 days ago

Even though a low-carbon economy is unquestionably necessary, a fast worldwide exit from the oil and gas industry could have terrible effects on development in Nigeria and the rest of Africa.

Member
8
20 days ago

Based on their findings, academics have voiced their concern that Africa may end up being used as a guinea pig for the transition to net zero and decarbonization.

Member
8
20 days ago

The oil and gas sector can be used to refer to a number of different things in countries such as Nigeria, where the oil and gas business is responsible for some percent of the country’s revenue and earnings from the sale of foreign exchange:

Member
8
20 days ago

When it comes to development, it can’t possibly go smooth in every way. Oil sectors is already deteriorated and we need this move to counter against climate change.

Member
8
19 days ago

decarbonization of gas need a very good attention it as bad effect to the environment and climate also is better our government find way to manage it and reduce the risk of it

Member
8
19 days ago

I didn’t think Nigeria’s decarbonization plan will lead to lost of jobs. I believe the process will be transitional and gradual process. It will be better to embark on decarbonization process than to endanger our lives.

Member
8
19 days ago

While a transition to a low-carbon economy is undeniably necessary, a sudden international pullout from the oil and gas sector might have catastrophic consequences for economic growth in Nigeria and the rest of Africa.

Member
8
19 days ago

A possible consequence of Nigeria’s decarbonization strategy is the loss of jobs. It’s better to take the necessary steps before we put the country in danger of a catastrophe.

Member
8
19 days ago

Due to excessive gas emissions and the global climate effect, our government must comply with international norms to avoid risk.

Member
8
19 days ago

In nations like Nigeria, where the oil and gas industry accounts for a significant portion of revenue and foreign exchange earnings, the oil and gas sector can mean many things:

Member
8
19 days ago

Now judging by the fact that many will loss their jobs if the country eventually go with decarbonization plan. I don’t think so. It should be a transitional process. The ability of any presidential aspirant could be assessed on their manifestos.

Abusi
Member
8
19 days ago

We need to decarbonate the gaseous substances that we emit into the atmosphere. It is the reason why we are having climate issues. The presidential candidates should also know the climate issue is very important too, we need to know how they will tackle it.

Member
8
19 days ago

The oil industry has already begun to decline, and in order to combat climate change, we need to take this step.

Member
8
19 days ago

The upcoming general election presents an important and opportune occasion to evaluate the top presidential candidates’ approaches to foreign policy.

Member
8
19 days ago

I believe the process will be transitional and gradual process. It will be better to embark on decarbonization process than to endanger our lives.

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