Nigeria can earn N320m yearly from carbon credit – Tantita

Operatives of Tantita Security Services Nigeria Limited

Tantita Security Services has said that the adoption of carbon credit schemes could see coastal communities earn over N320m yearly.

The Executive Director, Operations, Tantita Security, Capt. Warredi Enisuoh, stated this during his guest lecture at the 4th annual symposium of the African Marine Environment Sustainability Initiative on Tuesday in Lagos.

Carbon credits are a transparent, measurable and results-based way for companies to support activities, such as protecting and restoring irrecoverable natural carbon sinks, like forests or marine ecosystems and scaling nascent carbon removal technology, which keeps global climate goals within reach.

In his presentation, titled: “Achieving blue growth in a changing climate – Integrating the coastal communities”, Warredi disclosed that Tantita Security realised the importance of carbon credits in a bid to provide solutions to the gross pollution in the Niger-Delta Region.

Werendi explained that one mature tree could absorb 80kg of carbon dioxide from the atmosphere in a year, stressing that several developed countries had adopted the carbon credit initiative to preserve their environment.

“If we allocate 50,000 trees per coastal community. One carbon credit equals one tonne of carbon dioxide valued at $50. CO2 absorption per year equals 80kg times 50,000 trees, amounting to four million kg,” he explained.

According to Warredi, despite the recent signing of the Climate Change Act by Nigeria, the Federal Government is still investing in the acquisition of diesel-powered trains.

Warredi admonished maritime operators to approach the innovative concept with a sincere concern about the environment and not pecuniary interest.

The Minister of Marine and Blue Economy, Adegboyega Oyetola, while declaring the workshop open, encouraged participants to share viable suggestions for addressing the numerous challenges in the blue economy.

Oyetola, who was represented by Prof. Stephen Fakinlede, reiterated the ministry’s commitment to safety and sustainable blue economy.

Earlier, the President of AFMESI, Dr Felicia Mogo, maintained that the initiative was focused on establishing innovative financing mechanisms that support blue economy projects across Africa.

“We aim to attract investment in sustainable ocean industries, from eco-friendly aquaculture to renewable marine energy, and to ensure that these investments benefit the communities most in need.

“We will work with financial institutions, government agencies, private organisations, among others, to achieve this goal.

“Over the years, AFMESI has championed numerous projects and initiatives in Nigeria, and across Africa, aimed at protecting our marine ecosystems, empowering coastal communities, and advancing policy frameworks that support sustainable marine practices,” she remarked.