The Administrator of Rivers State, Retired Vice Admiral Ibok-Ete Ekwe Ibas, says Nigeria’s sustainability challenges can be overcome by aligning applicable principles of accounting ethics and environmental stewardship.

The Administrator indicated that by investing in green skills, civic engagement and being accountable, not only in financial deficits but ecological practices, Nigeria can build a nation that thrives within the global entity.

Retired Vice Admiral Ibas noted this in a keynote address during the opening ceremony of the Institute of Chartered Accountants of Nigeria (ICAN) 8th Southern Zonal Conference in Port Harcourt, yesterday.

Expatiating on the theme, ‘Eco-Disruption and Sustainability Challenges: The Way Forward,’ the Administrator, represented by Secretary to the State Government, Prof. Ibibia Lucky Worika, stressed that the topic was timely, especially against the background of recent changes in world environment.

According to him, “Our world is changing. Climate change, deforestation, pollution, and unsustainable consumption patterns are no longer abstract concerns. They are here, disrupting ecosystems, economies, and everyday life from the rising flood waters of the Niger Delta to the advancing desert sands in the north.

“Accountants and Eco-Disruption are an unlikely but vital alliance. It is not every day that you see a room full of accountants discussing eco-disruption. After all, when we think of accountants, we picture balance sheets, not biodiversity; ledgers, not lagoons; profit margins, not mangrove swamps. And yet, here we are about to talk climate change with people whose natural habitat is the spreadsheet.

“I must say, if the planet knew its fate was being discussed by accountants, it might feel strangely reassured… or start worrying about whether we are about to amortize the ozone layer. But in truth, your role in this conversation is critical. Because sustainable development is not only about planting trees, it’s about restructuring systems. It’s about applying logic, measurement, discipline, and ethics to our collective footprint. These are things accountants excel at.

“In the Niger Delta, where we are gathered today, the evidence is stark, coastal erosion and sea-level rise are threatening entire communities. Biodiversity is in decline, with mangrove forests and aquatic life under siege from oil pollution and invasive species. Rainfall patterns are shifting, compromising agriculture, food systems and freshwater supplies. Oil spills, bush burning, and deforestation continue to erode environmental health and human livelihoods. These disruptions not only threaten our environment, they destabilize our economy, our security and our very identity as a people.”

Vice Admiral (Rtd.) Ibok-Ete Ekwe Ibas, further stressed that strategies to develop effective policy towards environmental stewardship must change to ensure institutional reforms in cognisance of socio-economic, environment and human sustainability.

“The four pillars of environmental, economic, social, and human sustainability must now guide our policy choices and institutional reforms. We must move from extractive to regenerative systems.

“We must rethink how we produce, consume, and account for the value we create not just in financial terms, but in ecological and social impact as well. Strengthen environmental governance and community engagement, support clean energy with targeted fiscal policies and green financing, promote afforestation and mangrove restoration, intergrate sustainability into educational curricula and professional ethics, including accounting practices and invest in data, transparency and inclusive planning at all levels of government and industry,” he said.

Earlier, the President of ICAN, Mallam Haruna Nma Yahaya, while appreciating the Government of Rivers State for its hospitality, noted that, Nigeria’s renewable energy sector alone has the capacity to reduce unemployment challenges.

“The renewable energy sector alone has the potential to create over 300,000 jobs and contribute $7.4 billion annually to our GDP by 2030 if properly harnessed. Moreover, aligning our policies with the United Nations Sustainable Development Goals, particularly Goals 7, 12, and 13, could unlock more than $1 trillion in market opportunities for Africa by 2030. Eco-disruption, therefore, is not merely a challenge; it is also an invitation to innovation and leadership.

“As chartered accountants, we occupy a unique position at the intersection of finance, governance, and sustainability. We are called to champion the sustainability agenda through improved environmental accounting, sustainability reporting, and innovative green financing mechanisms. We can lead the way by promoting ESG disclosures and adopting the International Sustainability Standards Board frameworks, ensuring that our businesses and institutions not only comply with global requirements but also contribute meaningfully to sustainable development.

“Integrating climate resilience into budgeting and incentive eco-friendly investments will allow Nigeria to build a low-carbon economy while attracting green financing and stimulating growth in climate-smart sectors. Furthermore, by promoting public-private partnerships for green infrastructure, we can help the nation achieve its Net-Zero Energy Transition Plan,” he added.

He encouraged all members to join the ICAN ESG and Sustainability Faculty to equip themselves with the requisite knowledge and competence to navigate the evolving landscape of environmental, social, and governance reporting, to position the professionals for leadership in the emerging global green economy.

The Administrator of Rivers State, Vice Admiral (Rtd.) Ibok-Ete Ibas, has emphasized the need for innovation-driven strategies, strategic partnerships, and firm policy implementation to fully harness the vast potential of the blue economy.

Speaking during a courtesy visit by participants of Study Group 7 of the Executive Course 47 from the National Institute for Policy and Strategic Studies (NIPSS) at Government House, Port Harcourt, on Monday, Ibas highlighted the importance of diversifying Nigeria’s economy beyond oil by leveraging maritime resources to create jobs, enhance food security, strengthen climate resilience, and generate sustainable revenue.

The Administrator, according to a statement by his Senior Special Adviser on Media, Hector Igbikiowubo, noted that with coordinated efforts and innovative solutions, the blue economy could serve as a catalyst for inclusive growth, economic stability, and long-term environmental sustainability.

“It is estimated that a fully developed blue economy could generate over $296 million annually for Nigeria, spanning fisheries, shipping and logistics, marine tourism, offshore renewable energy, aquaculture, biotechnology, and coastal infrastructure,” he stated.

“We must transition from extractive practices to regenerative, inclusive, and innovation-driven solutions. This requires political cohesion, intergovernmental collaboration, robust infrastructure, and institutional capacity—all of which must be pursued with urgency and intentionality,” he added.

Ibas urged sub-national governments, particularly coastal states, to domesticate the national blue economy framework and develop tailored strategies that reflect their comparative advantages.

He stressed that such efforts must be guided by disciplined planning, regulation, and investment to maximize the sector’s potential.

Highlighting Rivers State’s pivotal role, the Administrator outlined its strategic advantages as follows:

•Nearly 30% of Nigeria’s total coastline (approximately 853km)

•Over 40% of Nigeria’s crude oil and gas output

•More than 33% of the country’s GDP and foreign exchange earnings

•416 of Nigeria’s 1,201 oil wells, many located in marine environments

•Two of Nigeria’s largest seaports, two oil refineries, and the Nigerian Liquefied Natural Gas (NLNG) terminal in Bonny Island—one of Africa’s most advanced gas facilities

Despite these opportunities, Ibas acknowledged challenges such as pollution, coastal erosion, illegal oil refining, unregulated fishing, inadequate infrastructure, and maritime insecurity.

He reaffirmed his administration’s commitment to institutional reforms, coastal zone management, and inter-agency collaboration to build a governance structure that supports a sustainable blue economy.

“Sustainability must be embedded in our development models from the outset, not as an afterthought. We are actively exploring partnerships in maritime education, aquaculture development, port modernization, and renewable ocean energy. We welcome knowledge-sharing engagements like this to refine our strategies and enhance implementation,” he said.

He urged the NIPSS delegation to ensure their findings translate into actionable recommendations that address the sector’s challenges.

Leader of the delegation, Vice Admiral A.A. Mustapha, explained that the visit aligns with their strategic institutional tour mandate on the 2025 theme: “Blue Economy and Sustainable Development in Nigeria: Issues, Challenges, and Opportunities.”

The group is engaging stakeholders to deepen understanding of policy efforts and institutional roles in advancing sustainable development through the blue economy.

The Independent National Electoral Commission (INEC) has announced that it has now received a total of 129 applications from associations seeking registration as political parties.

The update was provided during the commission’s regular weekly meeting held in Abuja, yesterday.

According to a statement signed by the National Commissioner and Chairman of the Information and Voter Education Committee, Sam Olumekun, seven new applications were submitted within the past week, adding to the previous number.

“At its regular weekly meeting held today, Thursday 10th July 2025, the commission received a further update on additional requests from associations seeking registration as political parties.

“Since last week, seven more applications have been received, bringing the total number so far to 129. All the requests are being processed,” the commission stated.

The commission revealed the introduction of a new digital platform for political party registration. The platform is part of the Party Financial Reporting and Auditing System and aims to streamline the registration process.

Olumekun disclosed that final testing of the portal would be completed within the next week.

“INEC also plans to release comprehensive guidelines to help associations file their applications using the new system.

“Unlike the manual method used in previous registration, the Commission is introducing a political party registration portal, which is a module in our Party Financial Reporting and Auditing System.

“This will make the process faster and seamless. In the next week, the commission will conclude the final testing of the portal before deployment.

“Thereafter, the next step for associations that meet the requirements to proceed to the application stage will be announced. The commission will also issue guidelines to facilitate the filing of applications using the PFRAS,” the statement added.

In the meantime, the list of new associations that have submitted applications has been made available to the public on INEC’s website and other official platforms.