Vice President Kashim Shettima has said that with the removal of subsidy on Premium Motor Spirit (PMS) otherwise called fuel, Nigeria will be preventing over 15 million tons of carbon dioxide emissions in a year.
The VP spoke on Tuesday at a one-day workshop organised by the National Council on Climate Change with the theme “Unpacking the outcomes of the fifty-eight sessions of the subsidiary bodies of the United Nations framework convention on climate change.”
The workshop was organised by the National Council on Climate Change.
He was represented by his Deputy Chief of Staff, Senator Ibrahim Hassan.
He noted that Nigeria is on course to achieving the nationally determined contribution targets.
He said the expectations for COP28 will include increased climate action on many fronts, particularly increased and available climate finance.
Shettima said, “At the onset of this administration, President Bola Ahmed Tinubu took the bold step to bring to an end petrol subsidy. Preliminary analysis conducted by the National Council on Climate Change on the co-benefits of fuel subsidy removal indicates that there has been about 30 per cent reduction in daily fuel consumption, amounting to about 20 million liters, equivalent to an estimated daily saving of 42,800 tons of carbon dioxide emissions.
“When projected over a period of one year, it amounts to over 15 million tons of CO2e saved, representing about 40 per cent Greenhouse Gas reduction from the baseline projection of 45 million metric tons of total GHG carbon dioxide equivalent by 2030. This places Nigeria on course to achieving our NDC targets ahead of time.
“The UNFCCC SB58 which was held in Bonn last June, I am told, is a very important and pivotal event in the UNFCCC Climate Change calendar and Nigeria was well represented at this event. It served as technical sessions to guide and support Parties towards achieving robust outcomes at the twenty-eighth session of the Conference of the Parties holding in the United Arab Emirates later this year.”
