UCL Energy Institute reposted this
New study by Foluso O. Agunbiade of University of Lagos, Chinonso Clare Ofodile, James Stewart Marie Fricaudet Dr. Dola O. UCL Energy Institute assesses economic impact of IMO’s candidate GHG reduction measures on Nigeria’s shipping and trade. The analysis shows average cost increase of 4-10% on crucial import and export commodities presenting compliance cost challenges for Nigeria, particularly when considering the combined impact on both vessel operations and cargo transportation. Appropriate revenue generation and distribution mechanisms therefore will be crucial to mitigate the economic impacts. Full report available here: https://lnkd.in/e-SawTVv
I hope the increase in cost of transportation occasioned by the transition could be sustained within 4- 10%.
Developing Just and Equitable Energy Transition Pathways in Emerging & Developing Markets
2wGrateful for the Federal Ministry of Marine and Blue Economy (MMBE), the Nigerian Ports Authority and Nigerian Maritime Administration and Safety Agency (NIMASA)’s support for the LEAP Project.