Nigeria’s energy policies are increasingly at odds with its climate commitments, as the country continues to invest heavily in fossil fuels despite pledging to transition to renewable energy. The focus on projects like the Dangote Refinery exemplifies this contradiction, as Nigeria risks worsening its economic future and environmental degradation while much of the world moves towards sustainable energy solutions. President Tinubu’s rhetoric reveals a lack of clear action on climate change mitigation, raising questions about the country’s readiness for necessary global transitions in the energy sector.
The current trajectory of Nigeria’s energy policy raises significant concerns regarding both its economic stability and its environmental responsibilities. Despite its commitment at the recent COP28 climate summit to decrease fossil fuel reliance and enhance renewable energy sources by 2030, Nigeria’s actions suggest otherwise. The excitement surrounding the Dangote Refinery and the government’s tacit endorsement of additional private refineries signal a deepening investment in fossil fuels. Furthermore, President Bola Tinubu’s mixed messages about climate change highlight a lack of genuine dedication to an energy transition. While global leaders are increasingly investing in green technologies, Nigeria appears to cling to its status as a petrostate. This dependence on fossil fuels not only jeopardizes the nation’s economy in light of decreasing global oil demand but also exacerbates the effects of climate change within its borders, demonstrating a perilous contradiction in its stated ambitions for environmental reform. The future of Nigeria’s energy landscape, therefore, depends on a pivotal shift towards renewable sources rather than continued investment in fossil fuel infrastructures, such as the Dangote Refinery, which otherwise threatens to become a stranded asset.
Nigeria stands as one of the world’s leading oil producers, heavily reliant on income generated from fossil fuel exports. However, while the international community moves towards an energy transition favoring renewable resources, Nigeria’s commitment to fossil fuels poses severe existential and economic risks. The nation has endured devastating climate impacts, such as floods and desertification, which further complicate its current energy policy framework. COP28 negotiations reflected a global consensus on reducing reliance on fossil fuels, yet Nigeria’s ongoing embrace of oil exploration and refinery expansion indicates a significant contradiction in its approach to energy and climate change.
In summary, Nigeria finds itself at a critical juncture in its energy policy, faced with the dual threats of economic decline due to declining fossil fuel demand and environmental crises exacerbated by climate change. The nation must reconcile its current trajectory of nurturing the fossil fuel sector with the urgent imperative for a sustainable energy transition. Failure to do so risks not only economic instability but also exacerbates its vulnerability to climate change. Genuine efforts towards a green economy, emphasizing renewable energy, must replace the existing dependence on fossil fuels, notably the aspirations surrounding the Dangote Refinery and other similar projects.
Original Source: businessday.ng
