World Bank predicts climate change as barrier to Nigeria vision 20:2020

[PeoplesDaily]

By Etuka Sunday

The World Bank yesterday submitted through its reports that Climate Resilience and Low-Carbon Growth was critical for Nigeria's Economic Future, but advised that if the challenges posed by climate change in Nigeria is not properly addressed, it could hamper Nigeria's ability to achieve its ambition -set out in Vision 20: 2020- of becoming one of the world's 20 largest economies by year 2020.

In the Nigeria Climate Change Report Launch & Press Conference held in Abuja, the two new World Bank reports argued that Nigeria's economy could be made more climate-resilient and less carbon-intensive without foregoing growth.

The studies are the fruit of a two-year long collaboration between the World Bank and the Government of Nigeria to address the challenges posed by climate change to Nigeria. The reports identify specific technologies and management practices that could be applied to key economic sectors, including agriculture and land use, water resources, oil and gas, power, and transport.

Speaking the Coordinating Minister for the Economy and Federal Minister of Finance, Ngozi Okonjo-Iweala, said "the 2012 floods in Nigeria were a stark reminder of the vulnerability of our communities, infrastructure and economy to climate-induced natural disasters. These studies will help inform decision-making across key sectors and levels of governments so that the economy becomes not only more productive but also more climate-resilient."

Also speaking, the World Bank Country Director in Nigeria, Marie Francoise Marie-Nelly, said, "the reports contain a sobering finding: absent actions taken now, the impacts of climate change could hamper Nigeria's ability to achieve its ambition -set out in Vision 20: 2020- of becoming one of the world?s 20 largest economies by 2020.

"The World Bank is privileged to have a strong partnership with the government of Nigeria, and I am pleased that our latest collaborative effort takes a close look at climate change and its potential impacts on Nigeria, Africa's second largest economy."

 

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