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…urges decarbonisation policy The Managing Director and Chief Executive Officer of OXYTANE Africa Investment Limited, Hon. Tamarankro Juliano Obriki, has commended President Bola Ahmed Tinubu for the approval and adoption of a national carbon market framework and the activation of Nigeria’s Climate Change Fund. Obriki, in a statement on Sunday, made available to newsmen in Warri, Delta State, described the adopted national carbon market framework and Climate Change Fund as a step in the right direction, noting that it had long been overdue for Nigeria to establish its own functional carbon market. According to him, “This will certainly attract and encourage oil industry players and manufacturers to voluntarily apply methodologies for decarbonisation.” “As certified emission reductions are carbon credits viable for trade, we at OXYTANE Africa Investment Limited have been at the forefront of promoting decarbonisation in the industrial sector through our tested and proven methodologies, such as the OXYTANE fuel additive technology.” “Our product, OXYTANE, is one of the best globally recognised solutions to reduce carbon emissions by up to seventy per cent and improve fuel efficiency when blended with any hydrocarbon-refined fuel used in combustion engines. This will help reduce Nigeria’s carbon footprint and fulfil the country’s commitment to drastically cut carbon emissions by 2030.” He noted that Nigeria remained about 95 per cent dependent on hydrocarbon-refined fuels, like most developing nations, adding that it had become imperative for certified emission reductions to be collated and traded as carbon credits while protecting the environment and saving lives. “A technology like the OXYTANE fuel additive technology must be adopted as a mandatory decarbonisation template for all conventional fuels in the country. We must congratulate President Bola Ahmed Tinubu for his leadership and commitment towards the Paris Agreement through this singular action,” he said. “We, on our part at OXYTANE Africa Investment Limited, are always ready to partner with the Government of Nigeria, relevant regulators, and stakeholders to reduce the nation’s carbon footprint and strengthen its carbon market.” He added that the company was already partnering with the National Environmental Standards and Regulations Enforcement Agency (NESREA) to reduce industrial carbon emissions through its solutions, as well as with NNPC Retail Limited in the distribution and sales of its products nationwide. “OXYTANE Africa Investment Limited was the first company in Nigeria and West Africa to be registered with the International Carbon Registry, and we look forward to working with the Federal Government to achieve the $3 billion annual carbon market target,” Obriki stated. ALSO READ TOP STORIES FROM NIGERIAN TRIBUNE
