MAN: Nigeria’s fossil fuels deadline will affect economy

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The Manufacturers Association of Nigeria (MAN) says the 2035 deadline to eradicate fossil fuels will strongly affect Nigeria’s economy.

Fossil fuels are hydrocarbon-containing materials formed naturally in the earth’s crust from the remains of dead plants and animals extracted and burned as fuel — coal, oil and natural gas.

Mansur Ahmed, president of MAN, said this on Wednesday at the association’s 15th annual general meeting and public lecture in Akwa Ibom. Ahmed said the transition, which is a good development, had a deadline that was too short for Nigeria to develop strategies to boost production for export. “One of the measures that will gradually be adopted globally is the complete stop of production of cars and engines that are powered by fossil fuels. In Europe, they have pegged the date by 2035. Other nations from other continents are following the same direction,” he said.

Source: Financial Digest (financialdigest.net)

 

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