Olu Verheijen, special adviser to President Bola Tinubu on energy, says developed nations, not Africa, are largely responsible for global emissions and must take the lead in reducing their carbon footprint.
Verheijen spoke on Tuesday during a session at CERAWeek by S&P Global, themed ‘Policy and People: Pathways to a Just Transition’.
The session, chaired by Vera Blei, head of market report and trading solutions at S&P Global, featured Scott Tinker, chief executive officer of Tinker Energy Association, and Sunita Narain, director-general of the Centre for Science and Environment.
Verheijen said Africa needs better data collection and analysis to support informed decision-making and policy development.
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She said a balanced approach is necessary to allow developing economies to use their natural resources for economic growth while adopting climate solutions that promote sustainability.
“Even if Africa experiences exponential economic growth and reaches middle-income status, the continent will still not be a major contributor to global emissions,” she said.
“The bulk of emission reductions will have to come from developed nations, which must diversify their energy sources and invest heavily in carbon removal and reduction technologies.”
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Verheijen reaffirmed the federal government’s commitment to fostering an investment-friendly environment for hydrocarbons to address energy poverty.
She said under Nigeria’s Decade of Gas initiative, the government has adopted natural gas as a transition fuel to support economic growth while reducing carbon emissions.
Verheijen noted that Africa and other low-income countries contribute only about 3–4 percent of global greenhouse gas emissions, while China and the United States account for approximately 30 percent and 13 percent of global CO₂ emissions, respectively.
She said China and the US are responsible for 40 percent of global emissions.
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‘NIGERIA WILL MAINTAIN STABLE INVESTMENT CLIMATE’
Verheijen said Nigeria remains committed to maintaining a stable investment climate and addressing climate-related risks through clear and transparent policies.
“In Nigeria, we are ensuring that we create an enabling environment for investments,” she said.
“On climate change, we recognise the importance of risk perception in our markets and are committed to transparent policies that stand the test of time, enabling the deployment of capital.”
Verheijen also stressed the need for greater regional integration to attract investment, improve market efficiency, and drive sustainable development.
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