By Ewrhujakpor Godfrey Bivbere & Winifred Ngozi Orji
Harboursandport.com: Lagos - November 22, 2024: Carbon Credit Expert and Executive Director of Tantita Security Nigeria Limited, Warredi Enisuoh has advised business owners and governments in Africa to consider switching to green energy for their production to benefit more from the Africa Continental Free Trade Area, AfCFTA.
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| Panelists at the event: L-R - Former Registrar, Liberian Maritime Authority, Capt Tony Onoharigho, Former Acting National President of the Association of Nigeria Licensed Customs Agents, ANLCA, Mr. Kayode Farinto, Publisher of Shipping Position Newspaper and former president of MARAN, Sesan Onileimo, Senior Trade Promotion Office, South West, Nig. Export Promotion Council, Olamide Olatunde, Capt. Wareddi Enisuoh and Maritime Security Expert, Emmanuel Maigwa. |
Speaking at the second Maritime Reporters Association of Nigeria, MARAN Annual Maritime Lecture, MAMAL in Lagos on Thursday, Enisuoh said lots of organisations and governments in other parts of the world are presently reaping huge financial benefits from carbon credit and challenged business owners and governments in Africa to seek knowledge on how to benefit.
A carbon credit is a financial instrument that represents a reduction or removal of carbon emissions, measured in tonnes of carbon dioxide equivalent (tCO2e).
The Tantita Executive Director explaining how it works, said interested business owners must first register with a carbon registry and a carbon developer that will help them better understand the processes and how to measure the volume emission saved by use of green energy as well as how to convert same to carbon credit.
He further noted that carbon credits earned can then be sold in dollars at the carbon stock exchange.
He said that every business owner is potentially rich in carbon credit and can explore the benefits if they can prove that in the course of manufacturing their goods, green energy like solar was used for a certain amount of hours.
Speaking as a panelist at the event, Enisuoh stated that with rising cost of energy for production through gas and its effect on the climate, adoption of environment friendly source of power will profit business owners and Africa Countries more.
His words: “At Tantita, we have already started exploring the benefits. Some of our cars are electric cars for example.
This is how Elon Musk is making his money, pointing out the
"He manufactures an electric car and he tells us he can guarantee us that the car is going to serve us for 25 years.
"He then brings a fuel car that is going to serve you for 25 years and calculates how much CO2 that car will emit, he then converts that to carbon credit.
I think he sells his carbon credits at $8."
Enisuoh stated that if we are able to organize ourselves as Nigeria in this matter, the activities of businesses in the country could gain Nigeria a national carbon credit because the national carbon credit is sold for about $100 to 1 ton, the parallel market is selling at $80.
He urged business owners who have not registered to register as there are a lot of carbon developers and they have sectionalized the world into several regions.
He disclosed that there is a carbon registry for the West Africa region in Dakar, Senegal.
Identifying a company that can register business owners, he said, “there is a firm called Laconic Securitized Sovereign Carbon, they register business owners and they can evaluate what you use to manufacture your products and then tell you what you have earned."
Speaking further, he noted that “Companies like Air France and Google are now buying carbon credits because they cannot afford to reduce the amount of CO2 at the moment because of jet fuel. But they are researching on how to lower the CO2 emission of those jets flying across our airspace”.
He said, if Nigeria can go ahead of everybody, we stand to gain a lot because at some point in all these, there is somebody somewhere or some country will release a regulation that will only accept product manufactured with clean energy or even place more tax on products not produced with clean energy.
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