ABUJA (Sundiata Post) – As part of efforts to reduce carbon emissions in Nigeria, the Federal Government has concluded plans to introduce carbon tax.
Carbon taxation is a cost charged on the amount of carbon emissions into the space.
To this effect, the National Council on Climate Change (NCCC) is developing a framework to determine the amount to be charged based on the quantum of emissions.
Speaking during the stakeholders’ workshop, yesterday in Abuja, on Understanding the Incentives and Obstacles to Effective Carbon Tax Regimes in West African countries, Acting Vice Chancellor, University of Nigeria, Nsukka, , Professor Romanus Ezeokonkwo affirmed that the Federal Government, through the NCCC, is currently devising strategies to implement robust carbon finance (carbon market framework and carbon tax regime) for the country in line with the Climate Change Act.
This, he said, followed the ongoing global dialogue on climate change mitigation, which emphasises the necessity of reducing greenhouse gas emissions through practical policy measures such as carbon taxation.
The Vice-Chancellor called on the stakeholders to ensure that they sensitise the public to buy into the government plan.
“The theme of today’s workshop is particularly timely as the Federal Government of Nigeria, through the National Climate Change Council (NCCC), is currently devising strategies to implement a robust carbon finance (carbon market framework and carbon tax regime) for the country in line with the Climate Change Act.
“Furthermore, the timing of this workshop is crucial given the ongoing global dialogue on climate change mitigation, which emphasises the necessity of reducing greenhouse gas emissions through practical policy measures such as carbon taxation.
“Your role as stakeholders in this workshop is crucial. While effective carbon pricing is acknowledged as a powerful tool in the global battle against climate change, getting public support for environmental policies remains a significant challenge in Africa.
“This workshop, therefore, seeks your valuable input from pertinent stakeholders in the realms of carbon pricing and fuel subsidy reforms in Nigeria and Ghana,” he said.
In his remarks, the Head of Economic Regulation, National Petroleum Authority of Ghana, Abass Ibrahim Tasunti, stated that Ghana is also on the verge of ensuring that fossil fuel emission is drastically reduced. He said that the country’s target is mainly the industries that emit large-scale carbon.
He, said, however, that so far, the country has not arrived at a fixed rate for it.
“The whole essence of carbon taxation, in my view, is to introduce taxes that move people away from the consumption of fossil fuel. Policymakers are looking for a way to impose taxes on petroleum products and use them to provide other alternative fuels.
“If they are done, it will give consumers options because you will agree with me that fossil fuel will not go off immediately. I think these carbon taxation initiatives and cleaner fuel initiatives are supposed to complement the use of fossil fuels” he said.
