According to the Minister of Environment, Mohammed Abdulahi, the Federal Government is investing 9% of the nation’s GDP to combat climate change in Nigeria.
Official statistics from the World Bank shows that Nigeria’s GDP was $440.78 billion in 2021. According to the Federal Government’s statement, nine percent of this amount, or $39.67 billion, may be spent by Nigeria to combat climate change.
This was revealed by Abdulahi to African leaders during the opening of the African Carbon Market Initiative, a side event held in conjunction with the ongoing COP27 in Egypt and organized by Climate Action.
According to a statement released in Abuja by the Federal Ministry of Environment, he discussed the initiatives the Federal Government is taking to lessen the effects of climate change nationwide.
According to the ministry, “Abdullahi revealed that Nigeria submitted a highly ambitious Nationally Determined Contributions and is spending up to nine per cent of its GDP in addressing climate change.”
In order to combat energy poverty and climate change, as well as to provide universal access to electricity by 2030 and net-zero by 2060, the minister informed the audience that Nigeria became the first African nation to establish a comprehensive Energy Transition Plan in 2021.
He also mentioned to the crowd the serious climate change concerns Nigeria was facing.
Abdullahi urged African leaders to act swiftly to lessen the effects of climate change, emphasizing that the future of the planet’s climate depended heavily on the continent.
Abdullahi remarked, “Our actions today and over the next few decades will determine the fate of future generations and the planet,” after describing some catastrophic repercussions of climate change in Nigeria and other parts of the world.
“This year, we witnessed disastrous extreme weather events from terrifying wildfires in the United States, to unprecedented heat waves in India, Pakistan, and Europe, to powerful floods in my country, Nigeria.
“This devastating floods have affected about 33 states, displacing over 1.4 million people, destroying over 100,000 hectares of farmland and causing about 600 deaths.
“In addition, we are witnessing increased desertification, erosion and pollution; the impacts of which are too severe to ignore.
“These glaring climate signals indicate that we do not have the luxury of time when it comes to the impacts of climate change.”
Abdullahi continued by highlighting the fact that Africa was currently bearing an excessive amount of the burden of the effects of climate change despite having contributed the least to historical and current emissions.
In light of this, he argued that urgent climate action was required.
He emphasized that African leaders must forcefully demand immediate and decisive climate action from developed nations, which are primarily to blame for the emissions that cause climate change.
Abdullahi stated, “We cannot afford any more delays; our people and nations are on the line.”
In order to combat climate change, he urged continued international cooperation and drew attention to the investment opportunities present in Nigeria’s Energy Transition Plan.
