The Nigerian Nationwide Petroleum Firm (NNPC) Restricted and its three way partnership (JV) companion, First Exploration and Petroleum Growth Firm Restricted (FIRST E&P), have unveiled the Afforestation, Livelihood Enhancement, and Carbon Sequestration (ALEC) initiative.
NNPC and FIRST E&P partnered with the Nigerian Conservation Basis (NCF) to launch the initiative, which targets 11 coastal communities in Bayelsa state.
In a joint assertion on Friday, the businesses stated the initiative, launched not too long ago in Lagos, is a transfer in direction of environmental sustainability and neighborhood empowerment.
NNPC and FIRST E&P stated the challenge goals to deal with the urgent problems with deforestation, biodiversity loss, and local weather change whereas concurrently enhancing the socio-economic well-being of native populations.
“In Nigeria, the state of affairs requires quick motion, with an estimated 70-80% of the nation’s authentic forests already misplaced as a consequence of unsustainable logging and agricultural enlargement, as reported by World Forest Watch and the Meals and Agriculture Group (FAO),” the businesses stated.
“Furthermore, Nigeria harbours 309 species which can be at the moment listed as threatened on the Worldwide Union for Conservation of Nature (IUCN) Pink Listing.
“With out quick and decisive motion, Nigeria is on monitor to lose its remaining mangrove forests by 2050, in keeping with projections by the Nigerian Conservation Basis (NCF) – a loss that might not solely exacerbate the consequences of local weather change but additionally additional endanger the nation’s wealthy biodiversity.
“In response to those urgent points, the ALEC Initiative will plant half one million bushes over a span of 5 years and work in direction of rehabilitating and conserving important ecosystems within the host communities for the NNPC Ltd/FIRST E&P JV.”
Along with contributing to international local weather mitigation efforts by means of enhanced carbon sequestration, the businesses stated the initiative will assist restore some important mangrove and tropical forest habitats for the communities to create greener, extra sustainable ecosystems that profit each folks and wildlife.
Commenting on the partnership, Bala Wunti, chief upstream funding officer at NNPC Upstream Funding Administration Providers (NUIMS), highlighted the corporate’s dedication to environmental stewardship.
“This initiative displays our dedication to environmental stewardship and social accountability in addition to a transparent understanding that sustainable enterprise success is inherently tied to the well-being of the communities we serve and the ecosystems we depend on,” Wunti stated.
‘A PIVOTAL STEP TOWARDS A SUSTAINABLE FUTURE’
Emmanuel Etomi, government director of company providers at FIRST E&P, stated the ALEC challenge marks a pivotal step in our journey in direction of a sustainable future.
He stated by restoring the very important ecosystems of its host communities, the businesses should not solely addressing a important environmental want but additionally empowering native communities with new financial alternatives.
“This challenge exemplifies the highly effective synergy between environmental stewardship and neighborhood improvement, underscoring our deep dedication to leaving a long-lasting legacy of optimistic impression,” Etomi stated.
Additionally talking, Joseph Onoja, the director basic (DG) of the Nigerian Conservation Basis (NCF), expressed pleasure over the initiative’s alignment with the muse’s strategic targets.
“We’re very enthusiastic about this challenge as a result of it aligns with our strategic pillars, equivalent to habitat restoration, tackling the local weather disaster, and species conservation,” he stated.
“This challenge will assist us obtain a number of the key targets we now have set and be certain that folks within the beneficiary communities, in addition to Nigerians as a complete, get pleasure from a greater high quality of life whereas safeguarding the atmosphere.”
The businesses stated the challenge marks the start of an bold journey towards environmental renewal and neighborhood resilience.
NNPC and FIRST E&P stated the challenge underscores Nigeria’s management in international efforts to fight local weather change and biodiversity loss, whereas fostering sustainable improvement throughout the nation.
