President Bola Tinubu has pledged an effort to curb gas flaring by significant margins, reiterating Nigeria’s commitment to implementing leading sustainability reporting standards.
Tinubu said this during a meeting held in Abuja with Emmanuel Faber, Chair of the International Sustainability Standards Board (ISSB).
In a statement issued by Special Adviser to the President on Media and Publicity, Ajuri Ngelale, President Tinubu emphasized the administration’s dedication to embracing cutting-edge financial reporting models and environmental regulations. Tinubu asserted, “We are on the verge of significantly reducing the volume of gas flaring in the country.”
Tinubu stated the administration’s transparency initiatives, affirming Nigeria’s representation on the global stage in a manner beneficial to humanity, also stated the need of collaboration with ISSB to enhance national resource management through reformed financial systems.
Meanwhile, ISSB Chair Emmanuel Faber commended Nigeria’s commitment to sustainability reporting, recalling Nigeria’s pledge at COP27 in Egypt to adopt rigorous standards. Faber expressed his delight at Nigeria’s launch of the Adoption Readiness Roadmap, stating, “Nigeria is leading the pack in Africa and around the world.”
Dr. Rabiu Olowo, Executive Secretary of the Financial Reporting Council of Nigeria, elucidated Nigeria’s decision to embrace global sustainability reporting standards. Olowo stated the readiness of the adoption working group to guide businesses, ensuring successful adherence to sustainability reporting practices.
“The adoption readiness working group is set to pilot our affairs and roadmap to help us succeed on this journey,” Olowo stated. He further disclosed plans for voluntary adoption leading up to mandatory implementation by 2028.
