Lagos: A Civil Society Organisation (CSO), Civil Society Legislative Advocacy Centre (CISLAC), has called for a competitive green economy that creates jobs, unlocks innovation, and strengthens energy security for Nigerians. Executive Director of CISLAC, Auwal Rafsanjani, made the call during its Policy Dialogue with Legislators on Tax for Fossil Fuel Phase-Out in Lagos.
According to News Agency of Nigeria, the dialogue aimed to convene the leadership of the African Parliamentary Network on Illicit Financial Flows and Tax (APNIFFT). Rafsanjani expressed CISLAC’s commitment to supporting the process and emphasized the need for the legislature to have the necessary tools to scrutinize fiscal incentives and introduce reforms. The dialogue aimed to position Nigeria in the global transition towards sustainable energy sources.
Rafsanjani highlighted Nigeria’s reliance on oil revenue and the urgency to diversify amidst global warming and climate change challenges. He noted that Nigeria stands at a crossroads, balancing dependence on fossil fuels with the need for a cleaner and more inclusive energy future. The Nigeria Energy Transition Plan (ETP) aims for net-zero emissions by 2060, but success hinges on strategic fiscal reforms and targeted tax incentives.
Rafsanjani noted that Nigeria faces significant energy challenges, relying heavily on fossil fuels and having limited renewable energy penetration. He acknowledged attempts to transition to renewable energy as part of Nigeria’s effort to combat climate change and tackle energy poverty. The legislature has established frameworks and agencies for climate actions, but effective implementation remains a challenge.
He emphasized the role of fiscal policy, particularly tax incentives, in shaping economic behavior and highlighted the National Assembly’s pivotal role in ensuring incentives support strategic divestments and investments in renewable technologies. Rafsanjani recalled CISLAC’s study on tax practices for fossil fuel industries and stressed the importance of well-designed and transparently administered incentives.
Speaker of the House of Representatives, Rep. Abbas Tajudeen, commended CISLAC and APNIFFT for convening the dialogue at a crucial time. Tajudeen, represented by the House Committee Chairman on Media and Public Affairs, Akin Rotimi, expressed the parliament’s commitment to strengthening energy transition’s fiscal foundations and safeguarding Nigeria’s prosperity.
House Committee Chairman on Foreign Affairs, Oluwole Oke, discussed global progress on climate change and highlighted environmental challenges from coal mining in Nigeria. He emphasized the need to deliberate on strategies to preserve the planet and ensure a sustainable future for generations to come.