Uyo, Nigeria – Policy Alert, in collaboration with the Natural Resource Governance Institute (NRGI) and BudgIT Foundation, has announced a regional stakeholders’ dialogue focused on strengthening sub national fiscal resilience in the Niger Delta. This event will take place on November 21st and 22nd, 2024, in Uyo, Akwa Ibom State.
In a statement released ahead of the event, the organization noted that the Niger Delta, renowned as Nigeria’s oil and gas hub, is heavily reliant on federal transfers for its revenue. As the global shift towards renewable energy accelerates, the region faces the imminent threat of significant fiscal shocks. This dialogue aims to address these challenges and foster a resilient future for the region, building on insights from Akwa Ibom State, which has served as the pilot for research on fiscal resilience amid the energy transition.
“The energy transition places the Niger Delta at a crossroads” said Tijah Bolton-Akpan, Executive Director of Policy Alert. “States in the region remain overly dependent on federally distributed oil revenues, at a time when the world is beating a retreat from fossil fuels. The transition, therefore, poses serious fiscal risks for subnational governments in the region.
“This regional dialogue will explore options available to Niger Delta states in the face of the energy transition. It will prepare stakeholders and state institutions in the region to take the urgent actions needed now to address the fiscal implications of the energy transition, thereby harnessing the opportunity it presents to shape a more resilient future for our communities.”
“The global energy transition is a key moment for fossil fuel-dependent economies like Nigeria, particularly for states in the Niger Delta that heavily rely on oil revenues,” said Tengi George-Ikoli, Senior Officer at the Natural Resource Governance Institute. “As the world steadily moves away from fossil fuels, these states face economic uncertainty and the urgent need to rethink their fiscal strategies.
“This dialogue is a step toward ensuring that Niger Delta states are not left behind but instead emerge as leaders in harnessing the opportunities of a low-carbon future. We look forward to commitment from the Akwa Ibom State Government as the pioneer by adopting policies and practices that can serve as a model for other oil producing states.”
The statement further noted that the event will delve into key issues such as:
* Assessing the current fiscal health of Niger Delta states
* Identifying vulnerabilities and opportunities in the face of the energy transition
* Strengthening transparency and accountability in public finance management
* Empowering civil society and youth to participate in decision-making processes
By bringing together government officials, civil society organizations, community leaders, and young people, the dialogue will foster collaborative discussions and develop actionable recommendations to enhance fiscal resilience.
The statement enjoined partners and interested members of the public to join the event virtually at 10am prompt on November 21 and 22, 2024 at https://shorturl.at/RnHyJ.
