An executive at OXYTANE Africa Investment Limited praised federal leadership for establishing a national carbon trading system and activating climate financing mechanisms, describing both moves as overdue steps that will incentivize emissions reduction across Nigerian industries. Managing Director Tamarankro Jjuliano Obriki said on Friday in Warri that President Bola Ahmed Tinubu's framework should encourage petroleum companies and manufacturers to pursue voluntary carbon reduction strategies.
The firm markets a fuel additive technology designed to lower emissions by 70 percent when mixed with hydrocarbon-based fuels used in combustion engines. Obriki noted Nigeria depends on refined hydrocarbons for 95 percent of its energy needs and must collect verified emission reductions that can be exchanged as tradable credits while meeting 2030 carbon reduction commitments under international agreements.
OXYTANE Africa Investment Limited became the initial West African company registered with the International Carbon Registry and maintains partnerships with the National Environmental Safety and Regulatory Enforcement Agency, plus NNPC Retail Limited for nationwide product distribution. Obriki expressed readiness to collaborate with government bodies and industry participants toward reaching annual carbon market revenue targets of three billion dollars while reducing the country's environmental impact.
The firm markets a fuel additive technology designed to lower emissions by 70 percent when mixed with hydrocarbon-based fuels used in combustion engines. Obriki noted Nigeria depends on refined hydrocarbons for 95 percent of its energy needs and must collect verified emission reductions that can be exchanged as tradable credits while meeting 2030 carbon reduction commitments under international agreements.
OXYTANE Africa Investment Limited became the initial West African company registered with the International Carbon Registry and maintains partnerships with the National Environmental Safety and Regulatory Enforcement Agency, plus NNPC Retail Limited for nationwide product distribution. Obriki expressed readiness to collaborate with government bodies and industry participants toward reaching annual carbon market revenue targets of three billion dollars while reducing the country's environmental impact.
