Obriki Hails Tinubu for Approving Carbon Market Framework, Climate Change Fund

The Chief Executive Officer of Oxytane Africa Investment Limited, Hon. Tamarankro Jjuliano Obriki, has applauded President Bola Ahmed Tinubu for approving and implementing Nigeria’s national carbon market framework and activating the nation’s climate change fund.

In a statement issued in Warri, Delta State, Obriki described the initiative as a significant milestone, noting that it was long overdue for Nigeria to establish a functional carbon market that supports sustainable environmental practices.

He explained that the framework would motivate oil companies and manufacturers to adopt voluntary decarbonization methods, emphasizing that certified emission reductions could be traded as carbon credits.

“At Oxytane Africa Investment Limited, we have championed decarbonization in the industrial sector through our proven technologies such as the Oxytane fuel additive,” Obriki said. “Our product reduces carbon emissions by up to 70 percent and enhances fuel efficiency when blended with any hydrocarbon-based fuel, helping Nigeria meet its 2030 emission reduction targets.”

He noted that with Nigeria still heavily reliant on hydrocarbon fuels, it has become critical to track and trade emission reductions as carbon credits, which will both protect the environment and save lives.

Obriki also urged that Oxytane fuel technology be made a mandatory decarbonization standard for all conventional fuels in the country.

Commending President Tinubu for his leadership and dedication to the Paris Agreement, Obriki reaffirmed Oxytane Africa’s readiness to collaborate with the federal government, regulators, and stakeholders to strengthen Nigeria’s carbon market and reduce the nation’s carbon footprint.

He revealed that Oxytane Africa is already working with the National Environmental Standards and Regulations Enforcement Agency (NESREA) and NNPC Retail Limited to cut industrial emissions and distribute its product nationwide.

“Oxytane Africa Investment Limited is the first company in Nigeria and West Africa to be registered with the International Carbon Registry,” Obriki added. “We are committed to partnering with the government to help Nigeria achieve its $3 billion annual carbon market target.”