By Rukayat Moisemhe

Some stakeholders have canvassed for the support of the Organised Private Sector (OPS), non- governmental organisations and others for initiatives to drive Climate Change Act effective enforcement and engender sustainability.

They made the advocacy at the American Business Council (ABC) and Lagos Business School (LBS) Sustainability Law Review with the theme: “Pathway to Implementation for a Successful Energy Transition”.

The event held on Friday in Lagos.

The News Agency of Nigeria (NAN) reports that former President Muhammadu Buhari signed the Climate Change Act to provide a framework for Nigeria to achieve climate goals, net zero emissions, long-term social and economic sustainability, and resilience.

Prof. Bankole Sodipo, Senior Partner, G.O. Sodipo and Co., said that effective enforcement of the law was critical to achieving the goals.

Sodipo also emphasised the need for massive trainings for regulators of the Petroleum Industry Act (PIA) to handle the oil and gas sector more effectively.

He urged the OPS, governments and other stakeholders to enlighten Nigerians on best practices to preserve the climate.

“It is commendable that government has passed both bills into law; so, the work ahead is to ensure implementation.

“There is need for campaigns, documentaries and movies that break down the impact of climate change on the environment, the country and the world at large.

“There is also need for tax rebates, incentives for people that are compliant to the Climate Change Act, to encourage organisations to adopt sustainability into their operations,” he said.

Ms Damilola Alada, Associate, Bloomfield LP, said that the Climate Change Act served as a mechanism to influence change, show more commitment, give direction and ensure awareness by everyone, of government’s position on sustainability.

She, however, noted that enforcement of both laws could not be left to the government alone.

According to her, everyone with the capacity should take the initiative to actualise the objectives of the laws.

Alada urged that action plans on climate change agenda should be broken down into phases and timelines to achieve desired results.

“There is also need to diversify energy mix in Nigeria to reduce reliance on fuel; there is need to improve investment in technology, develop local capacity and carry more people along.

“These same regulators are not going to be there by 2060, and the understanding, knowledge and technology need to be shared to carry on the goals and objectives of sustainability,” she said.

Ms Lovelyn Aniekwe, representative of Punuka Attorneys, called for incentives for companies with a carbon capture system and utilisation for gas.

Aniekwe said that capacity development for stakeholders was important to inform them about the laws and help them to know where they were headed with regard to sustainability.

“It is also important to have mechanisms to implement the frameworks in place and begin to ensure that all laws across sectors of the Nigerian economy are climate-proof.

“Nigeria must also get the judiciary involved, develop a registry, methodology and system that help to track reporting and verification of emissions.

“It is important to begin to guarantee every citizen a right to clean environment by allowing the right kind of investment that shows a shift from fuel to renewable energy, putting in place adaptive measures to drive the transition,” she said.

Mr Oludare Senbore, representative of Aluko and Oyebode LP, said that legal frameworks would facilitate achievement of the goals.

He said that there was the need to create a structure to drive carbon trading and set up a body through which the market could manage gas emissions.

“We must all collaborate on the plan to set up a carbon market.

“Nigeria, however, needs the right technology base to drive transition, and there is also need for public enlightenment,” he said.

Mrs Margaret Olele, Chief Executive Officer of ABC, said that the council would continue to remain the voice of American businesses in Nigeria and work hard to drive trade between Nigeria and America.

Olele urged the private sector to adopt sustainability practices, harness opportunities in it and collaborate with the public sector and the academia to drive implementation.

Responding, the Director-General of the National Council on Climate Change (NCCC), Dr Salisu Dahiru, said that plans were underway to decarbonize the Nigerian environment and ensure energy transition.

Dahiru was represented by Mrs Jummai Vandu, Principal Chemical Engineer, NCCC.

He said that NCCC was prepared to work with the LBS, ABC and other stakeholders willing to drive energy transition and achieve Nigeria’s climate change agenda.

“Climate change requires strategic partnership, shared solutions and shared interest to drive sustainability.

“Nigeria is committed to the carbon market, and part of the NCCC mandate is to drive low carbon emission via a carbon trading mechanism.

“We are proposing a carbon chart and emission trading system, and we are ready to partner to ensure it is achieved,” he said. (NAN)(www.nannews.ng)

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Edited by Ijeoma Popoola

By Rukayat Adeyemi

Prudential Zenith Life Insurance, says it recorded N50.2 billion worth of total assets in 2022 financial year as against N48 billion posted in 2021.

The Managing Director of the company, Mr Chris Igumbor, made this known at the August edition of the Nigerian Council of Registered Insurance Brokers (NCRIB), held in Lagos.

He said the shareholders’ fund for the firm reached N13.1 billion in 2022.

Represented by Dr Ifeoma Oragwu, Head of Corporate Sales at Prudential Zenith Life, Igumbor also said the Gross Written Premium (GWP) amounted to N6.4 billion same period.

He said that this demonstrated the company’s efforts to strengthen its capital base and grow its business.

Igumbor expressed the underwriter’s desire for further partnership with the brokers.

The managing director also expressed appreciation to the brokers for their continued patronage of Prudential Zenith Life and urged them to consider renewing their partnership with the company.

He emphasised the company’s commitment to providing valuable insurance solutions.

He said this specifically highlighted the company’s focus on the school fee protection plan for students, parents, and the group life plan for teachers and school administrators.

In his address, NCRIB’s President, Mr Rotimi Edu, represented by his deputy, Mr Babatunde Oguntade, assured the management of the underwriting firm of its cooperation.

Edu, also Chairman, NCRIB Governing Council, stated that the insurer had sponsored the council’s event within the two years of his administration.

According to him, this shows that it has so much confidence in the brokers and as such deserves their patronage.

“I thank Prudential Zenith Life Insurance for hosting this event, and by so doing reaffirming itself as one of the most insurance broker’s friendly underwriter in Nigeria,” he said.

The president appreciated his colleagues, for their staunch support since the commencement of his tenure, two years ago, which would end in October.

Edu noted that with the support of the members, the council has been raised to an enviable height.

He said: “This administration would continue to adhere to the actualisation of the thrust of office tagged: ‘Broker Centrism’, without leaving a stone unturned until the very last day.

“This is because, I am persuaded beyond reasonable doubts that the herculean task of ensuring that the Nigerian insurance industry and broking profession becomes enviable, is realisable.

Edu congratulated all the newly appointed ministers by President Bola Tinubu and specifically Mr Gboyega Oyetola, who is a fellow of the council, for being appointed as the Minister of Marine and Blue Economy.

He expressed optimism that Oyetola would bring his administrative and leadership dexterity to bear on charting an enduring path for the new ministry.

According to him, with this appointment, there is hope in the horizon that the economic thrust of the Federal Government would be on stream.

Edu also thanked Mr Bayo Fasoranti, Secretary, Nigeria Red Cross, Ogun State Chapter and Mr Kehinde Suraju, Divisional Coordinator, Ado-odo/Ota division of Red Cross for taking the brokers through: ‘Essential First Aid Tips for Emergencies’.

He said, the choice of the topic and the speakers were apt, because of the relevance of the topic to the business of risk management.

According to president, such rescue tips is important, as many Nigerians who died of cardiac arrest and similar health issues in our society could have been saved if we are all well informed. (NAN) (www.nannews.ng)

Edited by Olawunmi Ashafa

By Salisu Sani-Idris

The Vice President, Kashim Shettima, on Wednesday emphasised the need for re-engineering and re-strategising of affairs in the North with a view to fast tracking development.

Shettima stated this when he receive a Coalition of Northern States’ Chambers of Commerce, Industry, Mines and Agriculture (CONSCCIMA) led by its President, Malam Dalhatu Abubakar, at the Presidential Villa, Abuja.

He said: ” We have to go back to the drawing board, re-assess the state of affairs in the North and come up with robust platforms of re-engineering our society.

” It is imperative for the North to embark on the re-strategizing and re-engineering of the region in order to reposition it for accelerated development.

” Most of the issues highlighted by the President of CONSCCIMA are very poignant as these are issues that touch the lives and wellbeing of our people.”

Shetima commended CONSCCIMA leadership for its commitment to the development of the North through various industrial projects that can effectively lead to development through partnership with the Federal Government.

He observed that any society that sought to achieve economic development must cultivate peace and stability.

“There can never be development without peace and there can never be peace without development,” the vice president said.

Shettima extolled President Bola Tinubu as a visionary and committed democrat for his passion to seek and achieve development through addressing the challenges of insecurity in the North.

He added: ” Especially in the North-west through the Pulaku initiative. The Pulaku initiative is a robust solution towards addressing the challenges in the North-West.

” It is a solution aimed at addressing the challenges of banditry, kidnapping and the situation in the North-West which cannot be divorced from the issue of governance.

“Poor governance has a direct bearing on what we are harvesting in the North-West.”

Earlier, Abubakar expressed the readiness of the organisation to seek partnership with the Federal Government towards the revitalisation of the economy in the north.

He highlighted some projects that could help to galvanise the economy of the North to include the revival of moribound industries and setting up of new ones.

He also stressed the need for the establishment of pharmaceutical industries, establishment of modular refineries; recharging of the Lake Chad; completion of Mambila Power and other Power projects. (NAN) (www.nannews.ng)

Edited by Bashir Rabe Mani