The Chief Executive Officer of Oxytane Africa Investment Limited, Hon. Tamarankro Jjuliano Obriki, has praised President Bola Ahmed Tinubu for approving and adopting a national carbon market framework and activating Nigeria’s climate change fund.
In a statement made available to journalists in Warri, Delta State, on Sunday, Obriki said that the adoption of the national carbon market framework and climate change fund were positive steps forward, as it is long overdue for Nigeria to establish its own functional carbon market.
He stated that the adoption would attract and encourage oil industry players and manufacturers to voluntarily apply decarbonization methodologies.
“As certified emissions reductions are carbon credits viable for trades, we at Oxytane Africa Investment Limited have been at the forefront of preaching decarbonization in the industrial sector with our tested and proven methodologies like the Oxytane fuel addictive technology.
“Our product, Oxytane, is one of the best globally recognised solutions to reduce carbon emissions by 70 per cent and improve fuel efficiency when blended with any hydrocarbon refined fuels used in any combustion engines to reduce Nigeria’s carbon footprint and fulfil the commitment by Nigeria to reduce carbon emissions drastically by 2030”, Obriki stated.
He stressed that Nigeria was still a 95 per cent hydrocarbons-refined-fuels-dependent country, like most developing nations in the world, adding that it has become imperative for any reasonable certified emissions reductions to be collated and traded as carbon credits, while also protecting the environment and saving lives in the country.
Furthermore, he cautioned that a technology like the Oxytane fuel, which is addictive, must be adopted as a mandatory decarbonization template for all conventional fuels in the country.
Commending President Tinubu for his leadership and commitment to the Paris Agreement through this singular action, Obriki promised that Oxytane Africa Investment Limited is ready to partner with the federal government, relevant regulators, and stakeholders to reduce Nigeria’s carbon footprint and improve the Country’s carbon market
He stated further, “We are already partnering with the national environmental safety and regulatory enforcement agency to reduce carbon emissions industrially through our solutions, and also the NNPC Retail Limited in the distribution and sales of our product 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 annually carbon market target,” the CEO added.
