The Federal Government has unveiled plans to charge tax on carbon emission.
This is to tackle climate change in the country.
This is one of the development introduced by the National Council on Climate Change (NCCC).
The Acting Vice Chancellor, University of Nigeria (UNN), Prof. Romanus Ezeokonkwo said this on Thursday at a stakeholders’ workshop on “Understanding the Incentives and Obstacles to Effective Carbon Tax Regimes in West African Countries.”
Ezeokonkwo described carbon taxation as a cost charged on the amount of carbon emissions into the space.
NCCC is responsible to develop a framework to determine the amount to be charged based on the quantum of emissions.
He said that the Federal Government, through the NCCC, was devising strategies to implement a robust carbon finance (carbon market framework and carbon tax regime) for the country in line with the Climate Change Act.
“The theme of today’s workshop is timely as the Federal Government, through the NCCC, is devising strategies to implement a robust carbon finance, carbon market framework and carbon tax regime for the country in line with the Climate Change Act.
“The timing of this workshop is crucial given the ongoing global dialogue on climate change mitigation, which emphasises the necessity of reducing greenhouse gas emissions through practical policy measures such as carbon taxation.”
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