Nigeria’s Paradox: Commitment to Fossil Fuels Amid Climate Challenges
Nigeria’s continued reliance on fossil fuels amidst climate commitments poses significant economic and environmental risks. The licensing of new refineries contradicts pledges to transition to renewable energy, leaving the nation vulnerable to climate change impacts. Major global shifts indicate a movement towards sustainability, raising questions about Nigeria’s readiness for a future beyond fossil fuels.
Nigeria’s ongoing commitment to fossil fuels in the face of climate change poses severe economic and environmental risks. Recent developments, particularly the enthusiasm surrounding the Dangote Refinery and government initiatives to license additional private refineries, illustrate this paradoxical stance. Despite Nigeria’s solemn pledge at COP28 to transition to renewable energy by 2050, its actions reflect a deepening reliance on fossil fuel consumption. The country remains vulnerable to the adverse outcomes of climate change, evidenced by significant flooding and other extreme weather events. At a recent summit, President Bola Tinubu acknowledged the urgent need to address climate change while concurrently having made statements minimizing its importance during his campaign. This contradictory approach leaves little room for substantive action. The Petroleum Industry Act further binds Nigeria to fossil fuel dependency by mandating a significant share of oil profits for additional exploration. With a substantial number of petrol-powered vehicles on the roads, the country stands in stark contrast to global trends where significant polluters increasingly shift to sustainable energy. While Nigeria celebrates its oil refineries, developed nations move to close or repurpose theirs, suggesting a future where fossil fuel projects are seen as outdated. Presently, Nigeria’s approach to energy fails to align with the global transition toward renewables, posing economic threats as the world reduces its consumption of crude oil. Should a shift toward greener practices occur, the future of facilities like the Dangote Refinery may require adaptation to embrace sustainable technologies.
Nigeria, as a prominent petrostate, relies heavily on oil and gas exports, contributing significantly to its economy. However, this dependence also renders it vulnerable to global energy transitions and climate change. The country has publicly committed to a greener future as part of international climate agreements, yet continues to license and promote new fossil fuel projects. The contradiction between stated environmental commitment and actual energy policy creates a complex landscape for Nigeria’s economic and environmental future. Severe weather events driven by climate change underline the urgency for the nation to reconsider its energy strategies, as does the shift occurring globally where leading polluters invest in renewable energy technologies.
In summary, Nigeria’s energy policies reflect a worrying inconsistency as the nation simultaneously advocates for climate action while advancing fossil fuel consumption. The growing dependence on refineries amidst a global transition towards green energy signifies a potential economic downfall for Nigeria unless it embraces renewable energy and addresses its fossil fuel addiction. The future will favor nations that adapt to the new energy landscape, and Nigeria must urgently assess its strategies to align with these global shifts.
Original Source: businessday.ng
