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NDDC eyes investment in solar power and carbon credits to combat climate change

October 17, 2023
The NDDC Managing Director, Chief Samuel Ogbuku, (Right) speaking when a delegation from the Asteven International Company made a presentation on Renewable Energy and Carbon Credit at the NDDC headquarters in Port Harcourt. First left is the Executive Director of Asteven Group, Prof. Magnus Onuoha, followed by the President of the Council on Renewable Energy, Dr. Sunny Akpoyibo,

The Managing Director of the Niger Delta Development Commission, NDDC, Dr. Samuel Ogbuku, has announced significant strides in the realm of solar power, aligning with the Sustainable Development Goals (SDGs) to address climate change issues in Nigeria.

Ogbuku spoke when a delegation from the Asteven International Company made a presentation on Renewable Energy and Carbon Credit at the NDDC headquarters in Port Harcourt.
The NDDC Chief Executive Officer affirmed: “Our target is that every community in the Niger Delta region will be powered by solar; which is renewable and a cheap form of energy. In addition to this, we shall create industrial clusters to be powered by solar which will help in improving the agricultural value chain.”

Ogbuku further emphasized the Commission’s collaboration with a US-based firm and its compliance with the National Council of Climate Change, demonstrating their dedication to climate-related matters.

“Solar power has the dual benefit of helping people with projects and building carbon credits. We expect to recover the carbon credits we have garnered so far. Such recovered funds can be reinvested,” Dr. Ogbuku noted, highlighting the potential for environmental regeneration, particularly mangrove restoration.

The President of the Council on Renewable Energy, Dr. Sunny Akpoyibo, pledged support to NDDC in developing projects with carbon values, stating: “NDDC should work towards getting return on sustainable development. The Commission needs to unlock trapped values in its projects.”

Asteven International Company, during their presentation, highlighted the global significance of NDDC’s green projects. They assured the Commission of their assistance in monetising carbon credits and unlocking a substantial $2 billion carbon investment potential in the Niger Delta region.

The Executive Director of Asteven Group, Prof. Magnus Onuoha, underscored the centrality of the Niger Delta in the international climate change discourse and urged NDDC to actively engage experts for climate finance and technology support. He emphasized the importance of climate justice for sustainable development in the region.

NDDC’s investments in solar power and carbon credits align with SDGs, particularly Goal 7 (Affordable and Clean Energy) and Goal 13 (Climate Action). This forward-looking initiative reflects NDDC’s unwavering commitment to sustainable development and climate resilience in the Niger Delta region.

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