Mkpoikana Udoma
Port Harcourt — The Rivers State government has signed a Memorandum of Understanding, MoU, with Serendib Capital Limited to establish a blue carbon credits partnership, safeguard mangrove forests ecosystem and unlock significant environmental and economic benefits for the state.
The partnership aims to preserve and restore mangrove forests, crucial for carbon sequestration and ecosystem health, while also generating revenue for the state and supporting local communities.
The Commissioner for Energy and Natural Resources in Rivers State, Mr. Uche Maximus Nwafor, highlighted the project’s potential to boost the state’s revenue and ensure environmental protection.
“This project will benefit Rivers State, increase our revenue base, and we are committed to providing the necessary security and support to make this partnership a success,” he stated.
Also, the Chief Executive Officer of Serendib Capital Limited, Rafat Rizvi, emphasized the long-term benefits, including job creation and ecosystem preservation.
Rizvi emphasised the company’s focus on developing projects that promote coastal ecosystem preservation and restoration, with a primary emphasis on mangrove forests and blue carbon projects.
He said the projects not only help mitigate climate change but also provide numerous ecological benefits, such as protecting coastal communities from storms and erosion, filtering water pollution, and supporting biodiversity.
“We are committed to investing significant resources in protecting the mangrove forests. This initiative will create numerous job opportunities and help diversify the state’s economy, working transparently and cooperatively with local communities.”
For his part, the Project Manager, Mr Voke Ighorodje assured of effective engagement with local communities.
“We will establish offices across the Niger Delta, including Rivers State, to ensure community involvement. Our goal is to provide employment, training, and opportunities for locals, ensuring the project’s success.”
