Carbon sustainability campaign in Nigeria received a boost yesterday, with the suggestion by Tantita Security Services for the adoption of carbon credit schemes, which could see communities earn over N320 million yearly.
Executive Director, Operations, Tantita Security, Capt. Warredi Enisuoh, made this recommendation while delivering the Guest Lecture at the African Marine Environment Sustainability Initiative (AFMESI) 4th Annual Symposium and Workshop, in Lagos, on Tuesday.
In his presentation, titled: “Achieving Blue Growth In A Changing Climate – Integrating the Coastal Communities”, Capt. Warredi disclosed that Tantita Security realized the importance of carbon credits in a bid to provide solutions to the gross pollution in the Niger Delta region.
He equally noted that one mature tree can absorb 80kg of CO₂ from the atmosphere in a year and noted that several developed countries have adopted the carbon credit initiative to preserve their environment.
“If we allocate 50,000 trees per coastal community. One carbon credit is equivalent to one ton of carbon dioxide which is valued at $50. CO₂ absorption per year = 80kg x 50,000 Trees = 4,000,000kg. Earning 4,000,000kg x $50/1,000 – $200,000/уear. $200,000 x 1,600 – N320,000,000 annually”, Warredi explained.
He, however, lamented that despite the recent signing of the Climate Change Act by Nigeria, the federal government is still investing in the acquisition of diesel-powered trains.
While pointing out that the Nigerian Ports Authority (NPA) can exchange carbon offsets for funds that can be channeled into port automation, Warredi admonished maritime operators to approach the innovative concept with a sincere concern about the environment and not pecuniary interest.
The Minister of Marine and Blue Economy, Hon. Adegboyega Oyetola, declared the workshop open and encouraged the participants to share viable suggestions for addressing the numerous challenges in the blue economy.
Oyetola, who was represented by Prof. Stephen Fakinlede, reiterated the Ministry’s commitment to safety and sustainable blue economy.
