An international renewable energy company, Asteven, has assured the Niger Delta Development Commission (NDDC) of its assistance in monetising carbon credits and unlocking a substantial $2 billion carbon investment potential in the Niger Delta region.
The company gave the assurance on Tuesday when a delegation from the Asteven International Company made a presentation on Renewable Energy and Carbon Credit at the NDDC headquarters in Port Harcourt, Rivers State capital.
The company, during their presentation, highlighted the global significance of NDDC’s green projects.
The Executive Director of Asteven Group, Prof. Magnus Onuoha, underscored the centrality of the Niger Delta in the international climate change discourse and urged NDDC to actively engage experts for climate finance and technology support.
He emphasised the importance of climate justice for sustainable development in the region.
In his speech at the event, Managing Director of the NDDC, Dr. Samuel Ogbuku, announced plans to provide communities in the Niger Delta region with solar energy.
This is in addition to creating industrial clusters to be powered by solar which will help in improving the agricultural value chain.
Dr. Ogbuku announced significant strides in the realm of solar power, aligning with the Sustainable Development Goals (SDGs) to address climate change issues in Nigeria.
The NDDC Chief Executive Officer affirmed: “Our target is that every community in the Niger Delta region will be powered by solar; which is renewable and a cheap form of energy. In addition to this, we shall create industrial clusters to be powered by solar which will help in improving the agricultural value chain.”
He emphasised the Commission’s collaboration with a US-based firm and its compliance with the National Council of Climate Change, demonstrating their dedication to climate-related matters.
“Solar power has the dual benefit of helping people with projects and building carbon credits. We expect to recover the carbon credits we have garnered so far. Such recovered funds can be reinvested,” Dr. Ogbuku noted, highlighting the potential for environmental regeneration, particularly mangrove restoration.
The President of the Council on Renewable Energy, Dr. Sunny Akpoyibo, pledged support to NDDC in developing projects with carbon values, stating: “NDDC should work towards getting return on sustainable development. The Commission needs to unlock trapped values in its projects.”
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