The Federal Government has urged relevant stakeholders to adopt a carbon tax to combat climate change in the country. Acting Vice Chancellor of the University of Nigeria, Nsukka (UNN), Romanus Ezeokonkwo, highlighted this initiative during a stakeholders’ workshop on Thursday focused on “Understanding the Incentives and Obstacles to Effective Carbon Tax Regimes in West African Countries.”
Ezeokonkwo explained that carbon taxation imposes a cost on carbon emissions. He noted that the Federal Government, through the National Council on Climate Change (NCCC), is developing a framework to set charges based on emission levels. The government aims to implement a robust carbon finance system, including a carbon market framework and carbon tax regime, aligned with the Climate Change Act. This effort follows global discussions on climate change mitigation, which stress the importance of reducing greenhouse gas emissions through practical policies like carbon taxation.
“The timing of this workshop is crucial,” Ezeokonkwo said, “as the Federal Government, through the NCCC, is devising strategies to implement a robust carbon finance system in line with the Climate Change Act. Your role as stakeholders is essential. While effective carbon pricing is recognized as a powerful tool in the global fight against climate change, gaining public support for environmental policies remains a significant challenge in Africa. This workshop seeks your valuable input on carbon pricing and fuel subsidy reforms in Nigeria and Ghana.”
Abass Tasunti, Head of Economic Regulation at the National Petroleum Authority of Ghana, remarked that Ghana is also working to reduce fossil fuel emissions, targeting major carbon-emitting industries. However, the country has not yet established a fixed carbon tax rate. “The essence of carbon taxation is to encourage a shift away from fossil fuel consumption,” Tasunti said. “Policymakers are looking to impose taxes on petroleum products to fund alternative fuels. These carbon taxation and cleaner fuel initiatives are meant to complement the use of fossil fuels.”
Credit: NAN (Text Excluding Headline)
