Nigeria continues to strengthen its commitment to fossil fuels amidst climate change challenges, as seen in its enthusiasm for new oil refineries like the Dangote Refinery. Despite international agreements to transition towards renewable energy, Nigeria remains inconsistent in its policies, undermining its stability and future economic prospects. The divergence from global trends, where major polluters are shifting towards renewable energy, further underscores Nigeria’s precarious position as it grapples with climate-induced threats and potential economic decline.
Nigeria remains entrenched in its commitment to fossil fuels despite the pressing climate crisis and international expectations for a green transition. The recent enthusiasm surrounding the Dangote Refinery and the Nigerian government’s plans to issue further licenses for private oil refineries underscore this contradiction. While Nigeria is signatory to international accords like the COP28, which calls for a move away from fossil fuels by 2050, it continues to deepen its dependency, demonstrating a reluctance to genuinely engage with renewable energy alternatives. The nation’s susceptibility to climate change is starkly evident, with extreme weather conditions leading to calamities such as the devastating floods in Maiduguri last month. Despite acknowledging the immediate threats posed by climate change, Nigerian leadership has oscillated between rhetoric and action. President Bola Tinubu’s statements reflect a dual stance; previously dismissive of climate change, he now claims to reflect on adaptation strategies while still pursuing policies that exacerbate fossil fuel reliance, such as the 2018 Petroleum Industry Act that mandates further oil exploration funded by NNPC. Notably, major global polluters like China and the United States are making strides in transitioning to renewable energy, while Nigeria clings to its status as a petrostate. The optimism surrounding the Dangote Refinery is misplaced as it contradicts global trends; developed nations are closing refineries in favor of renewable energy hubs. A successful transition for Nigeria hinges on not only diversifying its energy sources but also preparing for a future where fossil fuels may no longer dominate the global market. Unfortunately, the nation’s ongoing investment in oil refineries indicates a profound misunderstanding of impending energy transitions and the necessary systemic changes required.
Nigeria, a nation predominantly reliant on oil and gas exports, is caught in a paradox as it professes commitment to addressing climate change while simultaneously investing in fossil fuel infrastructure. Traditionally described as a petrostate, Nigeria faces existential challenges rooted in both economic dependence on fossil fuels and heightened vulnerability to climate-related disasters. Following global climate conferences like COP28, the country has acknowledged the urgency for a transition to renewable energy sources but has yet to take significant action reflective of that acknowledgment.
In summary, Nigeria is at a critical juncture, facing the dual challenges of economic instability rooted in fossil fuel dependence and the growing impacts of climate change. While the nation pays lip service to green transitions, its actions suggest an unwavering commitment to remaining a hydrocarbon economy, jeopardizing its long-term stability and alignment with global energy trends. Ultimately, failure to adapt to these changes could leave Nigeria economically isolated and vulnerable to the repercussions of a world increasingly turning away from fossil fuels.
Original Source: businessday.ng
