Green economy in nigeria pdf file

Iyoha development of major sectors of the economy the development and contribution of the petroleum industry to the nigerian economy c. Articles and excerpts that illustrate green economy and. Green economy advocates good governance as an essential prerequisite for achieving sustainable development. The year closed with nigeria becoming the first african nation to issue a sovereign green bond ngn10. It documents good practices, success stories and lessons learned in selected sectors of the countrys economy. National development the green economy scenarios simulated in sagem reveal that a green economy stimulates economic growth.

Importance of smmes for the sa economy the entrepreneurial process and entrepreneurial activity profile and characteristics of some green entrepreneurs barriers to overcome by green entrepreneurs a systemic approach to developing the green economy in south africa. Economic development reference guide brownfields the united states environmental protection agency defines brownfields as commercial or industrial sites that are abandoned or underutilized and have some degree of environmental contamination, whether real or perceived. The second one explores green economic principles, while the third one focuses on green economy policies and international experience with national strategies. The nigeria economic report will also be a vehicle for the dissemination of existing world bank studies that are deemed to be of particular relevance for nigeria.

They argued that this is the best way of reducing environmental and. On the other hand, holders of company bonds are paid before holders of. Many saw nigeria, with 15% of africas population, as an emerging economy. It is closely related with ecological economics, but has a more politically applied focus. Introduction to the history and structure of nigerian economy. Ituc 10 principles for a green economy new economy network principles for a new economy earth charter initiative principles and values for sustainable development financial stability board key standards for sound financial systems a resilient and inclusive economy that provides a better quality of life for all within the. Nigeria s dependence on fossil fuel has been affecting the environment negatively. Nigerias dependence on fossil fuel has been affecting the environment negatively. Abstract this paper examines the green economy framework and its implications for sustainable growth and development of the nigerian economy. Kenya green economy strategy and implementation plan iisd. The project is designed in response to a request from the government and the agreement has already been signed with the government of nigeria. Such an environment will also need to be transparent and accountable. Pdf as the world grapples with the challenges of globalisation, global warming and climate change. Jul 23, 2012 the patterns of energy usage in nigeria s economy can be divided into industrial, transport, commercial, agricultural, and household sectors.

Introduction to topics in the history and structure of nigeria economy history and structure of nigerian economy series arts, management and social sciences handbook series isbn 9782056650 9789782056658. In 2008, the central bank of nigeria developed a macroeconometric model of nigeria to assist the bank in policy analysis. Desa has produced a series of guidebooks on the green economy. Overview of the status quo of green economy in five selected countries 4. The green economy is defined as economy that aims at making issues of reducing environmental risks and ecological scarcities, and that aims for sustainable development without degrading the environment. The 2011 unep green economy report argues that to be green, an economy must not only be efficient, but also fair. In the event of liquidation, the company would pay out preferred stockholders before holders of junior equity. Ghana provides comparative scenarios for future growth that estimates economic, environmental and social impacts. Since february 2011, the crge initiative, under the leadership of the prime. However the research has to be extended on the effect of green growth on the economy and the reduction of poverty alleviation on. Green growth development in lagos state lagos state is the smallest in landmass but the most populous in nigeria with 18million population.

The blue economy a framework for sustainable development the blue economy is a developing world initiative pioneered by sids but relevant to all coastal states and countries with an interest in waters beyond national jurisdiction. Following the 200809 global financial crises, the banking sector was effectively recapitalized and regulation enhanced. The green economy is equitable, fair and just between and within countries and between generations. The blue economy be, which is a new and evolving ecological economics concept, aims at the sustainable exploitation of ocean. An overview of leading issues in the structure and development of the nigerian economy since 1960 m. Policy measures to support inclusive and green business models. Information on the origin and meaning of a green economy, and how a green economy can be implemented in south africa, is described. If current trends continue, the global per capita use of natural resources will increase by 70 per cent by 2050. Overview of the nigerian economy african development bank. The economic development and poverty reduction strategy edprs is the framework for achieving vision 2020 and the millennium development goals mdgs. How green economy will provide jobs in nigeria the. Ghana describes the current status of fiscal policy in ghana, with the aim of identifying potential fiscal space for green investment, thereby supporting the transition to a more sustainable and inclusive economy. Green economy in subsaharan africa 9 in the middle of the global financial crisis, the united nations environment programme unep called for a global green new deal, encouraging governments to support economic transformation to a greener economy. Role of transportation in the economic development of nigeria.

For ghana to transition into a green economy nation, there is therefore the need for a multiinstitutionalized stakeholder group, comprising of key players and stakeholders from all sectors and. As nigeria works towards achieving a green economy, stakeholders have said that a good environmental governance is key. Pdf effect of business on economic development in nigeria. Osara is a rural community in kogi state where farming is central to livelihood. This first nigeria economic report will give some attention to longer term trends in the coun. It is the only state that has the office of transformation to green reforms and growth in the. Environmental pollution, types, causes, impact and management.

Green economy and its implications for economic growth in nigeria osmond n. But, mismanagement of the economy, lack of public accountability, insensitivity of the leadership to the yearnings and aspirations of. A major purpose of the green economy is to stimulate green investments in and across various economic and social sectors. Nigerias energy supply is dependent mainly on fossil fuel and the environmental hazards associated with the use of this type of energy has manifested in diverse. Mshelia introduction all over nigeria, we witness the ongoing unsustainable management of natural resources. In green finance, we often see investments in junior equity, which normally refers to the common stock in a company. The green economy improves governance and the rule of law. Public disclosure authorized nigeria economic report. The economy of nigeria is a middleincome, mixed economy and emerging market, with expanding manufacturing, financial, service, communications, technology and entertainment sectors.

Effect of business on economic development in nigeria article pdf available in journal of business economics and management volume 54. These stakeholders include americans concerned with security and energy independence issues, economic. This is largely due to the low level of development in all the other sectors. An economy that results in improved human wellbeing and reduced inequalities over the long term, while not exposing future generations to significant environmental risks and ecological scarcities, united nations environment programme unep, 2012. Green economy ge is the pathway to achieving sustainable development in contemporary times, especially in developing economies such as ghana. The ghanaian economy is putting much effort towards green growth and poverty alleviation which indeed is a step forward of ghanas economic development. Ethiopia has therefore initiated the climateresilient green economy crge initiative to protect the country from the adverse effects of climate change and to build a green economy that will help realise its ambition of reaching middleincome status before 2025. The development of new energy depends on policy guo, 2011. Nigeria needs to be a part of the global green economy gov. Colonialism is a major feature of the economic history of nigeria. Perhaps the most widespread myth is that there is an inescapable tradeoff between environ mental sustainability and economic progress.

Sustainable development is the organizing principle for meeting human development goals while simultaneously sustaining the ability of natural systems to provide the natural resources and ecosystem services based upon which the economy and society depend. The countrys forest estate which stood at 20% of total land area in the 1970s shrunk to. Pdf nigeria is losing her forest estate at an alarming rate. Nigerias economic recovery continues to be hampered by structural bottlenecks in the economy. Benefits of a green economy transformation in subsaharan africa. It discusses the economy in terms of its distinguishing characteristics, structure and related issues, such that the place of the sold minerals sector can be appreciated. Kenya green economy strategy and implementation plan. Uwazie department of economics alvan ikoku university of education, owerri. Nigeria has a population of 3 million, a landmass of 923,768km2, a bountiful endowment in arable land, solid minerals and petroleumgas resources. The present report on inclusive green growth in ghana provides an account of the overall policy framework and mechanisms to promote inclusive green growth igg in the country. Creating green jobs through sustainable enterprise development. Challenges to economic growth in nigeria michael amati jose ardavin jeanette fershtman 14 may 2004.

Growth and equity in nigeria in the current strategic plan 20102014 of the. It provides recommendations on how greening the agriculture, energy and forestry sectors can catalyze a transition to a green economy. Economy recession is a worldwide challenge affecting mostly developing countries especially, nigeria for instance. Nigeria, municipal, industrial and hazardous wastes are a major concern and every government is handicapped in dealing with them. For the unep, one of the fundamental bases for its green economy is in the rejection of what they call the myth that there is a dilemma between economic progress and environmental sustainability. Of green economy initiatives 41% 34% 27% 20% 25% 53% green economy activity in south africa general findings l green economy initiatives have sharply increased since 2010 l all key sectors in south africas economy and all provinces are active in or associated with the green economy in some way l 60% of green economy initiatives are located. Ghanas effort towards the emergence of green economy. In its simplest expression, a green economy can be thought of as one which is low carbon, resource efficient and socially inclusive.

The report green economy fiscal policy scoping study. The most common and convenient method of disposing of municipal solid wastes is in the sanitary landfill. Green bond highlights 2017 climate bonds initiative. Britain eventually gained control of nigerian administration. Green economy in subsaharan africa green growth knowledge.

Hence, the paper recommends some possible means that are open to attain sustainable development in nigeria, especially with regard to the decline of the problem of urbanization and urban. It is ranked as the 27thlargest economy in the world in terms of nominal gdp, and the 22ndlargest in terms of purchasing power parity. Renewable energy is one major sector of the green economy that will help reduce green house emissions into the atmosphere. First, most of todays expansion of the green economy market is concentrated in a relatively small number of. Green economy and its implications for economic growth in nigeria.

Nigeria needs to be part of that positive agenda, and the global green economy, weakening its dependence on. Nigeria has the appropriate credentials for greatness. The handbook has been renamed trade and green economy. Sanitary landfills provide better aesthetic control and should be odourfree. Green economy and its implications for economic growth in. In order to encourage local and foreign investment, it is essential to have a stable and predictable macroeconomic environment. Nov 04, 2016 i believe we can do more to support growth and innovation in a new global green economy. The political system still faces problems regarding state integrity, institutional efficiency of the government system, internal security, patterns of democratic representation and attitudes, enforcement of the rule of law and economic reform.

The green economy delivers poverty reduction, well. The desired result is a state of society where living conditions and resources are used to. The economic reforms and prudent policies have contributed to the consolidation of. The attempt to restructure the economy through privatisation is currently at a snails pace. It describes some of the international discussions that have given rise to the term and discusses varying definitions. The study revealed that the green economy holds lots of. Lessons from benin, ethiopia, ghana, namibia and nigeria. Africa nigeria the world factbook central intelligence. Aziz a, shamsuddin shahid a, muktar muhammad b, fauzan mohd jakarmic. United nations environment programme unep defined green economy as one that results in improved human well. A national strategy for the green economy 2 20162036 is being formulated on the basis of an integrated approach that strengthens coherence between economic, social and environmental policies and a collaborative approach that involves all actors of the society.

I, i federal university of technology owerri a green economy or green. By 2011, the population was estimated to be 164 million. Green economy creates value capable of empowering those at the bottom of the value chain. Perspectives spoke to azubuike nwokoye, the agricultural programme coordinator for actionaid nigeria, about the challenges faced by female farmers in osara, how the climate crisis will affect them, and what actionaid has been doing to support them. The first issue if the guidebooks centers on the history, definitions, and a recent publications in the gegg area.

This module presents a rationale for moving toward a green economy by. All green investments stimulate the growth of gdp relative to a bau scenario. Such investments should help to use natural capital and ecosystems, both considered to be critical economic assets, in a more. A green economy can be viewed as a path to sustainable development that results in improved human wellbeing and social equity, while significantly reducing environmental risks and ecological scarcities. Energy policy and employment a green economy has the character of public goods. The green economy protects biodiversity and ecosystems.

Nigerias population is projected to grow from more than 186 million people in 2016 to 392 million in 2050, becoming the worlds fourth most populous country. Green growth and environmental sustainability in nigeria zbw. The household sector accounts for the largest share of energy usage in the country about 65%. Vision 2020 aims to transform rwanda from a subsistence agriculture economy to a knowledgebased society earning 900 usd per capita, making rwanda a middle income country by 2020. Steering towards a green economy is an introduction to green economy concepts, ideas and actions with particular relevance to south africa. For nigeria to successfully transit to a green economy, there is need for the enforcement of existing legislations on sustainable environment. After independence, the nigerian economy seemed very promising. Meanwhile, the economy still faces serious structural and performance issues. These aspects of the green economy are explored further in subsequent sections of the report. A primer on green economic development 1 cities around the globe are trying to figure out how to grow green i.

Many countries are pr omoting a green economy which is a clean and energy efficient economy. The green economy strategy and implementation plan gesip provides the overall policy framework to facilitate a transition to a green economy and outlines the need to mainstream and align green economy initiatives across the economic, social and environmental spheres. An examination of policy issues and economic reforms to aid the development process is also presented. Green economy approach overview of module 1 module 1 presents an introduction to the green economy.

The green economy is the way of the future, as a new source of hightech, addedvalue growth, and job creation in countries around the world. Module 1 introduction to the green economy approach. The model, which was an aggregated, sparsely captures all the interplay in the real sector due to the complexity in the workings of the economy. This paper examines the role expected of the building and construction sector in actualising the goals and objectives of the nigerias vision 20. So, a green economy needs the support of public policy. How nigeria can transit to green economy, by experts the. Sids have always been highly dependent upon the seas for their wellbeing but the blue. Nigerias sustained high population growth rate will continue for the foreseeable future because of population momentum and its high birth rate. Fairness implies recognizing global and country level equity dimensions, particularly in assuring a just transition to an economy that is lowcarbon, resource efficient, and socially inclusive. Dec 07, 2019 nigeria is sub saharan africas largest economy and relies heavily on oil as its main source of foreign exchange earnings and government revenues. Economic sectors that contribute to building climate change resilience have high potential.

A serious commitment to global competitiveness and innovation appeals to a wide range of stakeholders. Education for a green economy is a unifying national topic. Nigerias phase1 privatisation programme 198893 was deemed successful with measurable benefits to the economy. Meanwhile, nigeria is experiencing economic challenges, high rate of poverty, and terms of economic development and environmental crises among the developing countries in the world. Executive summary the objective of this report is to examine to which degree the norwegian economy is an environmentally sustainable or green economy and to identify fundamental parameters to address in order to make the norwegian economy more green. Overview of the nigerian economy economic and social environment since 2003, the government of nigeria has sustained farreaching economic reforms at the federal level, particularly in public finance management, and the financial sector. Inclusion without greening can lead to pollution, ecosystem decay and depletion of natural resources all. The green economy is an approach to overcome the deepening ecological and development crisis. Growth in the agriculture sector, the main nonoil sector of the economy, increased partly due to the agricultural policy and institutional support that government has consistently given to the sector, particularly growth enhancement support to farmers. The kenya green economy assessment report launched by unep in 2014 concluded that kenya is already implementing various green economy approaches and policies, and that a transition to green economy has positive impacts in the medium and long term across all the sectors of the economy. The economic development department edd is responsible for coordinating the development of the countrys new growth path and overseeing the work of key state entities engaged in economic. For this reason, there has been an increasing attention in recent years towards transfer of green technologies to developing countries. In a green economy, growth in income and employment should be driven by both public and private investment unep, 2011. Role of transportation in the economic development of nigeria by oguike, matthew.