The new Agora Policy report has revealed that Nigeria may lose $460 billion due to climate change by 2050 if urgent actions are not taken to curb its adverse effects.
The report, titled ‘Climate Change and Socio-Economic Development in Nigeria,’ also revealed that the country has already incurred losses of $100 billion due to climate change as of 2020.
The MacArthur Foundation-supported report was unveiled during a one-day policy discussion titled ‘Nigeria, Climate Change, and the Green Economy‘ in Abuja, a prelude to COP28.
Highlighting potential exacerbations of climate change effects in Nigeria, the report underscores the challenges to the country’s development.
It identifies opportunities for Nigeria, suggesting avenues for rapid economic growth, energy source diversification, job creation for the growing youth population, and addressing poverty through a fair energy transition.
Prof Chukwumerije Okereke, the Director of the Centre for Climate Change and…