Nigeria’s Commitment to Fossil Fuels: An Existential Threat Amid Climate Change.

Nigeria’s unwavering commitment to fossil fuels, exemplified by the enthusiasm for new oil refineries like Dangote’s, contradicts its stated climate change commitments made at COP28. Despite pledges to transition to renewable energy, the country appears more entrenched in fossil fuel dependency, jeopardizing its economic stability amidst the impending global shift towards cleaner energy sources.

Nigeria’s continued reliance on fossil fuels presents profound economic and climate threats to its stability. The recent enthusiasm surrounding the Dangote Refinery and the government’s strategy to license additional private oil refineries, alongside new hydrocarbon explorations, epitomizes this commitment. Despite commitments made at the COP28 climate summit to transition from fossil fuels by 2050 and amplify renewable energy use, Nigeria’s actions contradict its stated intentions. At the summit, Nigeria, like 200 other nations, pledged to enhance renewable energy capacity significantly by 2030. However, these pledges appear to be largely unfulfilled, as the nation clings to fossil fuel utilization, a dilemma highlighted by President Bola Tinubu’s contradictory positions on climate change. The dire consequences of climate change are palpable in Nigeria, characterized by desertification, floods, and severe pollution as noted previously by President Buhari. The recent catastrophic floods in Maiduguri exemplify the urgent need for effective disaster management and underline the immediate dangers posed by climate change. However, Nigeria continues its trajectory towards fossil fuel dependency with actions such as the Petroleum Industry Act, which mandates NNPC to allocate a significant portion of profits towards further oil exploration, thus exacerbating carbon emissions. In light of global trends where leading oil-consuming countries are pivoting towards renewable energy, Nigeria’s course appears increasingly isolated. Countries like China and the US are making significant strides in green energy, while Brazil generates a substantial percentage of its electricity from renewables. In stark contrast, Nigeria not only relies heavily on refined petroleum products, but it also celebrates the operationalization of the Dangote Refinery over pursuing sustainable energy solutions. As global industries begin to phase out refineries in favor of clean energy alternatives, Nigeria finds itself at a crossroads. It must adapt to the inevitable decline in fossil fuel demand or risk economic isolation and diminished international investment in its fossil fuel sectors. Even if Nigeria contemplates a future pivot to green energy alternatives, the current infrastructure focuses predominantly on fossil fuels, leaving the nation ill-prepared for the advancing global energy transition. The crucial question remains whether Nigeria will seize the opportunity to transition towards renewable energy or continue its pursuit of fossil fuel dependence, potentially facing dire economic and environmental consequences in the not-so-distant future.

Nigeria, as a petrostate, is heavily reliant on oil and gas exports. This dependency, coupled with its commitments to climate agreements, poses significant challenges to both its economy and climate health. At COP28, the nation participated in a global pledge to reduce fossil fuel dependence, yet its actions suggest a divergence from this goal. A recent emphasis on refinery development, such as the Dangote Refinery, contrasts strikingly with a global trend towards renewable energy, leading to questions about Nigeria’s preparedness for a shifting energy landscape. The current administration, while rhetorically acknowledging climate change, has not implemented substantial changes to align with international climate commitments, leaving the nation vulnerable to the adverse effects of climate change and economic instability resulting from dwindling fossil fuel markets.

In conclusion, Nigeria’s ongoing commitment to fossil fuels amidst international pressure and the evident impacts of climate change represents a poignant paradox. Despite affirmations of climate action, the government’s actions, such as the push for new oil refineries and continued exploration of hydrocarbons, contradict its climate promises. The future trajectory of Nigeria’s energy policy will be critical in determining its economic viability and environmental sustainability in an ever-changing global landscape.

Original Source: businessday.ng