The Nigeria Liquefied Natural Gas Limited (NLNG) has made a compelling call to the federal government to provide incentives for tech start-ups tackling climate challenges. Deputy Managing Director, Olakunle Osobu, emphasised the need for financial guarantees, tax credits, and early-stage funding to drive sustainable energy solutions.
“Government initiatives should offer tax credits or deductions for climate tech investments, provide early-stage funding for climate tech start-ups, streamline regulations, provide clear policies and standards,” Osobu stated.
Speaking at the Gastech Exhibition and Conference in Houston, United States, Osobu stressed that the government must create an enabling environment, similar to Norway’s approach, to attract venture capital funds focused on climate tech investments.
“The Nigerian government must take the lead in creating an enabling environment that would make venture capital funds focus on climate tech investments,” he noted.
Osobu highlighted NLNG’s commitment to climate action, leveraging cutting-edge technologies to reduce emissions and promote sustainable energy development. “We take Climate Change seriously and have proposed and taken various actions to mitigate the impact of our operations on the environment,” he said.
NLNG aims to reduce Greenhouse Gas (GHG) emissions by 20% by 2030. The company is exploring innovative solutions, including Carbon capture and storage, and biofuel prospects.
As a major player in the global energy industry, NLNG is contributing to Nigeria’s energy transition and global efforts. By advocating for government support and leveraging innovative technologies, NLNG is paving the way for a more sustainable energy future.
