Harboursandport.com: Lagos - November 12, 2024: The Executive Director, Operations, Tantita Security Nigeria Limited, Capt. Warredi Enisuoh, has charged the management of the Nigerian Ports Authority, NPA to leverage on the opportunities provided by Carbon Credit to develop the nation's seaports.
Speaking as a guest lecturer at the African Marine Environment Sustainability Initiative (AFMESI) 4th Annual Symposium and Workshop, in Lagos, said this was necessary as finances for development are hard to come by.
According to him, NPA can use the surrounding island around the nation's seaports to cultivate trees that can be used to absorb CO2 which can then be used to get the necessary resources for the needed development of the sea ports.
He further noted that most of these Island and surroundings of the nation's seaports can be cultivate for the suppose of getting Carbon Credits.
He explained that since those who buy Carbon Credit do not give cash but asked those with the Carbon Credit to choose area(s) they wish to develop; NPA can leverage on the opportunity to meet specific infrastructural developmental needs.
He noted that NPA could decide to go for the development of the quay aprons, expansion of existing infrastructures, and development of new port projects as required.
In his presentation, titled: “Achieving Blue Growth In A Changing Climate – Integrating the Coastal Communities”, Warredi also 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 further disclosed that the carbon credit schemes which could see communities earn over N320 million yearly.
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 offset 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, Adegboyega Oyetola, declared the workshop open and encouraged the participants to share viable suggestions to addressing the numerous challenges in the blue economy.
Oyetola, who was represented by Prof. Stephen Fakinlede, reiterated commitment to safety and sustainable blue economy.
Earlier, President of AFMESI, Dr. (Mrs.) Felicia Mogo, maintained that the initiative is focused on establishing innovative financing mechanisms that support blue economy projects across Africa.
“We aim to attract investment in sustainable ocean industries, from eco-friendly aquaculture to renewable marine energy, and to ensure that these investments benefit the communities most in need. We will work with financial institutions, government agencies, private organizations, among others to achieve this goal.
“Over the years, AFMESI has championed numerous projects and initiatives in Nigeria, and across Africa, aimed at protecting our marine ecosystems, empowering coastal communities, and advancing policy frameworks that support sustainable marine practices,” she remarked.
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