NASENI Invests in Cookstoves to Cut Carbon Emissions

The National Agency for Science and Engineering Infrastructure (NASENI) has announced its investment in the production of clean and efficient cookstoves to address global warming and reduce carbon emissions in Nigeria.

In a statement released in Abuja on Thursday, NASENI’s Director of Information, Mr. Olusegun Ayeoyenikan, highlighted the agency’s investment in Powerstove.

Powerstove is a Nigerian company that specialises in the production of cookstoves and has expertise in carbon credit projects.

Ayeoyenikan emphasized that this investment aims to combat global warming and promote a sustainable ecosystem through the efforts of Nigerian companies committed to decarbonization.

“As part of this investment, NASENI will provide both capital for growth and technical assistance to Powerstove, enabling the company to scale its production from 100,000 units to over one million units per year.

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The director quoted NASENI’s Executive Vice Chairman, Khalil Halilu, as saying that ”The substantial increase in production capacity would not only meet the growing demand for clean and efficient cookstoves but also significantly contribute to reducing carbon emissions in Nigeria.”

“Powerstove boasts as the largest local carbon credit project for a private company in Nigeria, currently valued at 4.5 million carbon credits.

“With this investment, NASENI is not only supporting an impact-driven enterprise but also positioning itself to benefit from carbon credit revenue, thereby reinforcing its commitment to sustainable development.”

Halilu stated that the investment highlights NASENI’s proactive commitment to addressing climate change and fostering a resilient and sustainable ecosystem.

This initiative supports innovative Nigerian companies with the potential to lead decarbonization efforts.