Nigeria remains heavily reliant on fossil fuels despite the economic and climate risks involved, as exemplified by the recent enthusiasm for the Dangote Refinery. At COP28, Nigeria agreed to transition from fossil fuels, though action contradicts policy. Extreme weather events underscore the impacts of climate change, and reliance on hydrocarbons is increasingly at odds with a global shift towards renewable energy. While other countries pursue greener alternatives, Nigeria’s actions signal a need for reevaluation of its energy policies.
Nigeria’s entrenched reliance on fossil fuels poses significant economic and climate challenges amid a global move towards renewable energy. The recent excitement surrounding the Dangote Refinery and the government’s determination to license more private oil refineries underscore this commitment to hydrocarbons. Despite pledges made at COP28 to transition away from fossil fuels by 2050 and to enhance renewable energy capacity, Nigeria continues its contradictory stance of promoting oil and gas, which threatens its stability and climate resilience. Extreme weather events, such as recent floods in Maiduguri, illustrate the acute impacts of climate change that Nigeria faces. President Bola Tinubu’s mixed messages regarding climate change, including an earlier dismissive remark equating climate change to a “poisoned holy communion,” further complicate the country’s climate narrative. The Petroleum Industry Act, which mandates significant investment in oil exploration, alongside a growing number of vehicles powered by fossil fuels, exacerbates the contradiction between Nigeria’s words and actions regarding climate mitigation. In stark contrast to developed nations accelerating their green transitions—including China and the United States—Nigeria’s focus on fossil fuels seems increasingly out of place. While countries close their refineries to meet evolving energy demands, Nigeria appears committed to maintaining its petrostate status. This path raises considerable concerns, as the potential economic fallout from a significantly reduced demand for crude oil could severely cripple the Nigerian economy. Ultimately, Nigeria must rethink its reliance on fossil fuels to avoid being left behind in the global shift towards renewable energy and sustainable practices.
The article provides a critical analysis of Nigeria’s reliance on fossil fuels amidst global climate change concerns. Nigeria, as a petrostate heavily dependent on oil and gas exports, faces dire economic implications due to this dependency while simultaneously contending with climate change challenges. The article discusses Nigeria’s participation in international climate agreements that call for a transition to renewable energy, highlighting the nation’s inconsistency in its commitment to reducing fossil fuel reliance. It critiques governmental actions, including the licensing of new oil refineries, and juxtaposes these actions with the global shift towards greener energy solutions.
In conclusion, Nigeria’s steadfast commitment to fossil fuels, reflected in the establishment of new refineries and continued hydrocarbon exploration, threatens both its economic future and climate stability. The country’s contradiction between professing a commitment to combat climate change while deepening fossil fuel dependence exposes it to significant risks. As developed nations accelerate their transition to greener energy sources, Nigeria must critically evaluate its energy policies to align with global trends, thereby securing its economic and environmental future.
Original Source: businessday.ng
