Vice President Kashim Shettima announced that removing fuel subsidies in Nigeria is expected to lead to a reduction of over 15 million tons of carbon dioxide emissions within a year.
This statement was made during a workshop organized by the National Council on Climate Change, where Shettima emphasized the potential benefits of subsidy elimination.
He noted a 30% drop in daily fuel consumption, equating to approximately 20 million liters and a daily preservation of 42,800 tons of CO2 emissions.
When projected over a year, this amounts to over 15 million tons of CO2 saved, positioning Nigeria well to achieve its climate targets.
Shettima, who was represented by his Deputy Chief of Staff, Senator Ibrahim Hassan, noted that Nigeria was on course to achieve the nationally-determined contribution targets.
“At the onset of this administration, President Bola Tinubu took the bold step to put an end to the petrol subsidy. Preliminary analysis conducted by the National Council on Climate Change on the co-benefits of fuel subsidy removal indicates that there has been about a 30 per cent reduction in daily fuel consumption, amounting to about 20 million litres, equivalent to an estimated daily saving of 42,800 tonnes of carbon dioxide emissions.
“When projected over one year, it amounts to over 15 million tonnes of CO2 saved, representing about 40 per cent greenhouse gas reduction from the baseline projection of 45 million metric tonnes of total GHG carbon dioxide equivalent by 2030. This places Nigeria on course to achieve our NDC targets ahead of time,” he said.
In his welcome address, the Director General of the NCCC, Dr Salisu Dahiru, said there was a need for Nigeria to prepare adequately for COP28 and other statutory meetings.