By Peter Onyekachukwu 
By Peter OnyekachukwuWarri
OXYTANE Africa Investment Limited has expressed readiness to partner with the Federal Government to achieve Nigeria’s $3 billion annual carbon market target following the approval of the national carbon market framework and activation of the climate change fund by President Bola Ahmed Tinubu.
The Managing Director and Chief Executive Officer of OXYTANE Africa Investment Limited, Hon. Tamarankro Jjuliano Obriki, said the company, which was the first in Nigeria and West Africa to be registered with the International Carbon Registry, remains committed to helping the country reduce its carbon footprint and strengthen its environmental sustainability efforts.
He said the firm is already working with the National Environmental Safety and Regulatory Enforcement Agency (NESREA) to reduce industrial emissions through its tested solutions and also partnering with NNPC Retail Limited for nationwide distribution of its OXYTANE fuel additive product.
Obriki lauded President Tinubu for demonstrating leadership and commitment to the Paris Agreement by approving the national carbon market framework, describing the move as a major milestone toward decarbonizing Nigeria’s energy sector.
He explained that OXYTANE’s flagship product, the OXYTANE fuel additive, can reduce carbon emissions by up to 70 percent and improve fuel efficiency when blended with hydrocarbon-refined fuels used in combustion engines.
“Nigeria remains 95 percent dependent on hydrocarbon-refined fuels like most developing nations, so it is imperative that certified emissions reductions are collated and traded as carbon credits to protect the environment and save lives,” Obriki said.
He emphasized that adopting OXYTANE’s fuel additive technology as a mandatory decarbonization standard for conventional fuels in Nigeria would help the country meet its commitment to drastically cut emissions by 2030.
Obriki also noted that the establishment of a national carbon market framework and climate change fund is long overdue, adding that the initiative will encourage oil industry players and manufacturers to embrace voluntary decarbonization practices.
“At OXYTANE Africa Investment Limited, we are proud to be at the forefront of promoting decarbonization in the industrial sector with our innovative and globally recognized solutions,” he added.