Connect with us


Climate change: Edo Rep urges FG to explore other sources of revenue generation



A member of the House of Representatives, Mr Dennis Idahosa has urged the Federal Government to harness other sources of revenue generation, warning that overreliance on oil and gas may prove disastrous.

He said this has become important ahead of the implementation of the resolutions of the 26th meeting of the Conference Parties to the United Nations Framework Convention on Climate Change (UNCOP26) in Glasgow.

In a statement by his media aide, Mr Friday Aghedo, the representative of the Ovia Federal Constituency, stated that Nigeria revenue would be affected negatively if it failed to look beyond the oil and gas sector that accounts for more than 65 per cent of the country’s revenue.

He noted that it was in a bid to avert the looming danger that he sponsored a motion titled, “Need to Create An Economic Revenue Road Map For The Future of Nigeria” on the floor of the Green Chamber.

Idahosa pointed out that Nigeria has numerous potential sources of revenue and if attention is not placed on them early, it would be of no benefit to its citizens and the nation at large.

He said that part of the resolution of the Glasgow meeting which took place between October 31 to November 12, 2021, is to phase out fossil fuels to limit global warming to 1.5 degrees Celsius compared to pre-industrial levels.

That parties to the Paris Agreement adopted at COP21 in Paris on December 12, 2015, entering into effect on November 4, 2016, are expected to transit from fossil fuel to clean energy and reach a Net Zero ambition for greenhouse gasses emission.

He said: “I am aware that the President, Major General Muhammadu Buhari (retd.) while delivering his speech at the COP26 leaders’ summit pledged that Nigeria would cut its emissions to net-zero by 2060.

“This period, according to an expert, the viability of fossil fuels and hydrocarbon is speculated to last for another 20 years which gives the nation time to utilise and redirect the sources gained from oil and gas towards the development of other sectors of the economy for the benefit of the nation.

“I am concerned that following the recent resolution by all major countries at the UNCOP26 2021 summit, countries like Nigeria which depends mainly on hydrocarbon and fossil fuels for revenue and survival, will be the worst hit except careful and intentional precautions are taken to secure the future of Nigeria,” he stated.

Copyright PUNCH.

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

Contact: [email protected]

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Local15 hours ago

Kaduna to enroll secondary school students into its health insurance scheme: Official

News19 hours ago

Sound Sultan’s brother exposes scammer who hacked late singer’s Instagram account

Local14 hours ago

VAT declines by N11.76 billion as CIT receives boost in Q3: NBS

News15 hours ago

UBTH boss condemns attack on health workers by patients’ relatives

World16 hours ago

How the Associated Press Covered Israeli President Herzog’s Candle-Lighting in Hebron

Entertainment20 hours ago

“I used to dream of living in a big house, but now I’m scared of the one I live in” – BBNaija star, Tacha laments

Health10 hours ago

Want a Lean Body For Good? Eat These 8 Foods Every Day

Politics15 hours ago

Akeredolu calls for funding of private universities through TETFund grants

Entertainment21 hours ago

Man shares his kids heartwarming reaction when he told them he didn’t have money to buy the drink they wanted

Politics14 hours ago

Okowa, IYC call for justice, investigation into death of Dowen College student

News16 hours ago

FCT PDP endorses Saraki’s 2023 Presidential bid

Local10 hours ago

70 million mobile owners in Nigeria have no bank accounts: eTranzact

Entertainment20 hours ago

“I used to dream of living in a big house, but now I’m scared of the one I live in” – BBNaija star, Tacha laments

Viral2 hours ago

After Bride Allowed Her Ex-boyfriend To Hug Her At Her Wedding, The Husband Did This To The Guy.

World10 hours ago

UK: Muslims produce ‘large amount of money,’ offer to buy woman’s daughter

Local13 hours ago

Lawyer petitions IGP to investigate firm, two individuals for forging Supreme Court judgment

News16 hours ago

Tonto Dikeh calls for commemoration of Sylvester’s 12th birthday at Dowen College premises

World18 hours ago

UK and Israel pledge to ‘work day and night’ to stop Iran from getting nuclear weapons

World14 hours ago

CAIR’s Nihad Awad declares Tel Aviv ‘occupied,’ prays for its ‘liberation’

World13 hours ago

Pakistan drops ban on jihad group that is targeting non-Muslims over Muhammad cartoons, even in the West