Nigeria’s dependence on fossil fuels amidst climate commitments presents an economic and environmental paradox. Despite pledging to transition away from fossil fuels and acknowledging climate-related challenges at climate summits, the country continues to invest heavily in oil and gas infrastructure, exemplified by the Dangote Refinery. This approach not only contradicts global trends toward renewable energy but also threatens Nigeria’s stability as global demand for oil diminishes.
The ongoing conversation regarding Nigeria’s commitment to fossil fuel exploitation juxtaposes sharply with its public declarations concerning climate action. The impending viability of the Dangote Refinery exemplifies Nigeria’s pronounced investment in oil while simultaneously acknowledging the global call to transition to renewable energy sources. Despite the nation’s acknowledgment of the detrimental effects of climate change, it continues to license new oil refineries and explore additional hydrocarbon reserves, thus reinforcing its petrostate status. This juxtaposition of rhetoric and action presents severe existential threats to Nigeria’s economic stability and environmental health. At the recent COP28 summit, Nigeria, alongside 200 other nations, pledged to forsake fossil fuels by 2050, yet tangible steps towards these commitments remain elusive. Nigeria’s continued reliance on oil, alongside President Tinubu’s mixed messaging regarding climate change, highlights a disconcerting contradiction in national policy. As developed nations pivot away from fossil fuels, Nigeria’s steadfast pursuit of oil could lead to economic disadvantages, particularly as global demand for crude oil wanes in favor of cleaner energy sources. Ultimately, without a substantial shift towards renewable energy, Nigeria risks being ill-prepared for an inevitable global transition.
Nigeria is a country heavily dependent on oil and gas exports, positioning itself as a petrostate with limited diversification of its economy. The nation faces acute challenges from climate change, including floods, droughts, and pollution, compounded by inadequate disaster preparedness. While Nigeria’s leaders have made commitments to reduce reliance on fossil fuels at international climate summits, their actions reveal a contrasting narrative of continued investment in oil extraction and refining. This position not only jeopardizes Nigeria’s environmental sustainability but also risks economic decline as global markets evolve towards renewable energy. The Dangote Refinery, while seen as a major advancement by some, embodies Nigeria’s troubling addiction to fossil fuels and raises questions about the long-term viability of such investments.
To conclude, Nigeria’s continued investment in fossil fuels, despite its professed commitment to combat climate change, represents a troubling contradiction that threatens its future economic and environmental health. The government’s failure to meaningfully transition towards renewable energy sources and its ongoing support for oil infrastructure like the Dangote Refinery expose the country to significant risks as global dynamics shift. As major economies embrace green technologies, Nigeria must urgently reassess its energy strategy to avoid a detrimental future steeped in fossil fuel dependency.
Original Source: businessday.ng
