Event Information
Fossil fuel reforms are useful tools to redirect energy consumption towards cleaner sources of energy, as part of the global drive towards decarbonization and a clean and sustainable development pathway. Such reforms are usually conducted through fiscal policy tools, such as taxes and subsidies to encourage or discourage consumption of some fossil fuels. This also suggests that the use of such reforms impacts the pricing of fossil fuels relative to cleaner energy sources. Unfortunately, developing countries are yet to fully transition to cleaner energy sources from their dependence on fossil fuels, despite establishing several policy frameworks to support the transition. Though some countries around the world have successfully implemented tools like carbon taxes to motivate the reduction of emissions. For other countries like Ghana and Nigeria, successful transition to cleaner energy sources is a long-term goal in the eyes of policymakers. Both countries have passed several price reforms on fossil fuels like fuel subsidy removal. However, the road to a sustainable carbon pricing remains unclear
Sequel to this, EfD Nigeria and EfD Ghana conducted research in Ghana and Nigeria on “Understanding incentive-based policy options for carbon tax implementation in Nigeria” The study has generated useful findings from several reputable organizations tasked with price reforms for both fossil fuel sectors and the environmental sectors in Ghana and Nigeria. New information gathered from the study touches on the constrains and opportunities in both countries regarding price reforms on fossil fuels and how some of these constraints and opportunities could motivate or create potential for the use of carbon taxes in both countries.
The one-day technical workshop is meant to present the findings of the study to stakeholders, mobilize them to discuss the issues regarding fuel subsidy and carbon tax in Nigeria and chart the way forward.