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The economic diversification plan of Delta state has transcended from the ordinary, with a focus on exploring new frontiers in carbon credit markets and blue economy opportunities.
The Commissioner for Economic Planning, Mr Sonny Ekedayen, stated this during a media chat with some journalists.
Mr Ekedayen disclosed that the Azura Mangrove Project has received a “No Objection” from the National Council on Climate Change, clearing the way for the state to participate in carbon credit initiatives, which he described as a “game-changing revenue diversification strategy.”
The economic planning Commissioner revealed that Delta’s vast mangrove forests and coastal resources position the state to benefit from global blue carbon markets.
“Carbon credit and blue carbon initiatives represent a huge global market. Our mangrove reserves and coastal ecosystems are valuable environmental assets that can generate sustainable income for the state,”
He continued: “This initiative will not only create alternative revenue streams but also promote sustainable environmental practices and employment in coastal communities.
Economic transformation is a gradual process, and the administration is laying the groundwork through strategic investments in infrastructure, fostering investor confidence, agricultural mechanisation, and climate-smart initiatives.
Mr. Ekedayen is optimistic that as these initiatives gain momentum, residents will start to see a significant improvement in employment numbers and a broader economic impact across the state.
