In order to reduce importation of substandard petroleum products in the sub Saharan region of West Africa, an online business facilitation platform that connects African energy companies to financiers from all over the world, PUTTRU Technologies Limited, has advocated a partnership between European Union (EU) and ECOWAS.
The chief executive officer of PUTTRU, Monica Maduekwe, in a recent chat with The Nation, advocated a bilateral partnership between EU and ECOWAS in terms of fuel quality, while Federal Government intensifies efforts at maximising the refining capacity of the region.
According to her, the EU has taken an energy diplomacy position which includes the possibility of implementing a carbon border adjustment (CBA) mechanism.
The CBA is a policy intended to discourage carbon leakages, importation of carbon intensive products into the EU, as well as protect the competitiveness of EU industries operating within a carbon tax system.
“As the EU continues to adopt more stringent environmental standards in general, EU products that do not meet these standards will be exported to other markets, like we have seen with the high methanol fuel imported to Nigeria recently.
This, therefore, presents an opportunity for ECOWAS and EU countries to collaborate to ensure that the EU does not become the exporter of substandard products to the developing world,” Maduekwe said.
