World Bank to invest over $5bn in African Drylands The World Bank plans to invest over $5 billion in African drylands over the next five years to help restore degraded landscapes, improve agriculture productivity, and promote livelihoods across 11 African countries on a swathe of land stretching from Senegal to Djibouti. World Bank Group President David Malpass announced the investment at the One Planet Summit, a high-level meeting co-hosted with France and the United Nations that is focused on addressing climate change and biodiversity loss. “This investment, which comes at…
Read MoreCategory: Climate Action
A brief on Earth Day and Nigeria
Every April 22nd marks Earth day. It is a day for calling on world leaders and individuals to act on improving the earth’s health. This year’s event is the fiftieth and it happens in a time of global health pandemic. Earth Day in Nigeria should be day citizens and government alike use in renewing commitment to a healthy environment. A look at the origin of Earth Day advocacy shows high significance to Nigeria. In 1970, some angry environmentalists in the United States staged a protest against oil spills in California.…
Read MoreFGN Green Bond Issuance is Commendable but Unaffordable
However, investment of this nature needs not only to be environmentally sustainable but also to be economically and socially viable.
Read MoreAddressing Nigeria’s One Planet Summit commitment
Seemingly, Nigerian leaders are more committed to conferences, summits and other international events than committing themselves to implementing the outcomes of those events.
Read MoreCOP21: Failure of Nigeria to Submit INDC
Nigeria government attitude towards climate change is no exception from other burning issues in the country. Nigeria with high vulnerability impacts of climate change is yet to commit to the Conference of the Parties (COP) 21. While virtually all other countries have submitted their Intended Nationally Determined Contributions (INDCs) to the United Nations Framework Convention on Climate Change (UNFCCC) Secretariat. But, Nigeria that needs the supports of advanced economies to access climate funds is yet to submit INDC. The 2015 Paris Climate Conference is just two days away and…
Read MoreAligning ODA to Climate Finance in Nigeria
Official Development Assistance (ODA) is significant in funding the National Adaptation Strategy and Plan of Action on Climate Change for Nigeria (NASPA-CCN). Therefore; linking ODA to fund climate change mitigation and adaptation costs is a necessity for the country in attaining NASPA-CCN. University of Norte Dame Global Adaptation Index (ND-GAIN) ranks Nigeria 147 out of 180 countries in 2014. Nigeria was only better by 13.5 scores from the bottom rank country (Eritrea). In addition to high vulnerability to climate change, the financing gap is enormous. However; ODA can serve as…
Read More