Bayo Akomolafe 
As International Maritime Organisation (IMO) imposes an emission fee on ships that breach it and reward vessels burning cleaner fuels, Nigeria is expected to save at least N3 trillion ($2 billion) annually by implementing its climate pledge to reduce greenhouse gas (GHG) emissions by 20 per cent.
More than 4,000 vessels that call at Nigerian ports and coastal waters annually are emitting over 405 million tonnes of CO2, as CO2 emissions per capita in Nigeria are equivalent to 0.56 tonnes per person.
Also, it was revealed that based on global state of emmision of ships in the ocean, the IMO’s Marine Environment Protection Committee (MPEC) had convened a meeting in London to negotiate the reduction of GHG from the global shipping industry.
Ahead of the negotiations, 120 policymakers, industry experts and negotiators from 30 Commonwealth countries were brought together to discuss the upcoming negotiations where critical decisions will be made to finalise legally binding measures for decarbonising global shipping.
According to a Deputy Director at the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Oma Ofodile Nigeria, many developing maritime nations are facing both challenges and opportunities in this transition.
He said that with the right investments, decarbonisation could unlock significant new energy and trade opportunities, reinforcing economic resilience while contributing to Nigeria and global climate goals.
Also, Head of Climate Action and Clean Air at the IMO, Roel Hoenders, underscored the significance of the organisation’s revised GHG strategy and the path ahead.
He said: “The IMO’s 2023 Revised Strategy sets clear targets for shipping to reach net-zero emissions by or around 2050, with legally binding commitments on track for adoption this year.
“The key challenge now is to ensure that regulatory measures are finalised in a way that is both effective and equitable, particularly for those most vulnerable to economic disruptions.”
Recall that, last week, IMO struck a deal on a global fuel emissions standard for the maritime sector, saying that it would impose an emission fee on ships that breach it and reward vessels burning cleaner fuels.
However, the United States pulled out of the IMO’s climate talks at the International Maritime Organisation in London this week, urging other countries to do the same and threatening to impose “reciprocal measures” against any fee charged to US ships.
Other nations approved the CO2-cutting measures to help meet the IMO target to cut net emissions from international shipping by 20 per cent by 2030 and eliminate it by 2050.
It was revealed that majority of countries at IMO voted to approve a scheme that from 2028 would charge ships a penalty of $380 per metric tonne on every extra tonnes of CO2 equivalent they emit above a fixed emissions threshold, plus a penalty of $100 a tonne on emissions above a stricter emissions limit.
The talks exposed deep rifts between governments over how fast to push the maritime sector to cut its environmental impact.
The deal is expected to generate up to $40 billion in fees from 2030, some of which would go towards making expensive zero-emission fuels more affordable.
Also, the International Chamber of Shipping (ICS) welcomed the deal, saying that it would require a huge scale-up of such fuels. ICS said in a statement: “We are pleased that governments have understood the need to catalyse and support investment in zero emission fuels.”
In 2030, the main emissions limit will require ships to cut the emissions intensity of their fuel by eight per cent compared with a 2008 baseline while the stricter standard will demand a 21 per cent reduction.
