Green economy in subsaharan africa green growth knowledge. 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. Nonoil sector generating little income the imf reported that the nonoil growth sector is picking up, however, revenue generated from nonoil revenue is still low. The economy of nigeria is a middleincome, mixed economy and emerging market, with expanding manufacturing, financial, service, communications, technology and entertainment sectors. A multivariate regression approach was employed to estimate augmented growth models. A bane to food security odoh patrick abutu department of public administration, the federal polytechnic, kaura namoda zamfara state, nigeria west africa abstract. For example, in country by country performance based on leed achievement of countries in green economy, it. United nations environment programme unep defined green economy as one that results in improved human well. The study focuses on the impact of federal government expenditure on economic growth in nigeria from 1981 to 2014. Kenya, mauritius, namibia, nigeria rwanda, south africa, the united republic of tanzania and. Green growth and sustainable development forum oecd. Nigeria needs to join global green economy vanguard news.
In a green economy, growth in income and employment should be driven by both public and private investment unep, 2011. An impediment to nigeria s transition to the green economy by. 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 impact of federal government expenditure on economic. 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. The south african approach is to ensure that green economy programmes are to be supported by practical and implementable action plan therefore importance of building on existing best processes, programmes, initiatives and indigenous knowledge in key sectors towards a resource efficient, low carbon and proemployment growth path and that. The time series data covers the nigerian economy as a whole was used. Implications of the inclusive green economy transition for africa. Nigerias dependence on fossil fuel has been affecting the environment negatively. Ajide1 this paper investigates the role of frazer economic freedom index on fdigrowth relationship over the period spanning 1980 through 2010 using annual time series data. Nigeria s phase1 privatisation programme 198893 was deemed successful with measurable benefits to the economy.
Environmental degradation and sustainable economic. The nigeria national flag have two combined colour of green and white green white green. Nov 04, 2016 i believe we can do more to support growth and innovation in a new global green economy. 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.
Nigeria having varied ecological zones is endowed with environmental conditions and natural habitats that are suitable and promising for beekeeping in addressing green economy beyond our territory. 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. It is the only state that has the office of transformation to green reforms and growth in the. Nigeria s economic recovery continues to be hampered by structural bottlenecks in the economy.
Greening nigerias economy for industrial and environmental sustainability. Hence, this paper helps to understand the concept and need for sustainable development. Nigeria oke, michael ojo department of banking and finance, faculty of management sciences, ekiti state university, ado ekiti, ekiti state, nigeria. Nigeria is one of the largest countries in africa, with a total geographical area of 923 768 square kilometers and a population of about 150 million npc, 2006. The next section of this article deliberates on climate change in green economy readiness discourses. Enabling measures for an inclusive green economy in africa. Kenya green economy strategy and implementation plan. At the request of the federal republic of nigeria, unep has conducted an independent assessment of the environment and public health impacts of oil contamination in ogoniland, in the niger delta, and options for remediation. Section two dealt with conceptual issues on environmental degradation and economic development. Green finance for developing countries summarizes this work to date, and spells out developing countries concerns, needs and innovations as momentum grows to catalyse green finance through financial system development. It is closely related with ecological economics, but has a more politically applied focus. Energy policy and employment a green economy has the character of public goods.
Fisheries and aquaculture in the context of blue economy. Uwazie department of economics alvan ikoku university of education, owerri. Apr 03, 2019 the international monetary fund imf has revealed that nigerias economy is indeed recovering from the substantial trade shock that triggered the 2016 recession. The project aims to build a genuine interdisciplinary and international collaborative network that can develop a substantive and innovative research agenda on the governance of green growth in africa. Benefits of a green economy transformation in subsaharan africa. It is ranked as the 27thlargest economy in the world in terms of nominal gdp, and the 22ndlargest in terms of purchasing power parity. Mainstream economics explains that economic growth occurs by combining the factors of production. One of the most direct ways for governments to promote a green economy is through public finance and fiscal measures. Abstract this paper examines the green economy framework and its implications for sustainable growth and development of the nigerian economy.
Many saw nigeria, with 15% of africas population, as an emerging economy. This paper examines the role expected of the building and construction sector in actualising the goals and objectives of the nigerias vision 20. Policy measures to support inclusive and green business. Infrastructure development and economic growth nexus in nigeria. Thus, this paper seeks to examine the impact of oil exploitation in the niger delta on sustainable development and the green economy, and alternative policy measures that may be put in place to sustain the green economy in nigeria. It documents good practices, success stories and lessons learned in selected sectors of the countrys economy. Inclusion without greening can lead to pollution, ecosystem decay and depletion of natural resources all. Steering towards a green economy is an introduction to green economy concepts, ideas and actions with particular relevance to south africa. 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. For these institutions to be relevant to current governance challenges for a green economy, they should be given broader mandates and should be provided with adequate resources and capacities to develop and coordinate activities covering all three pillars of sustainable development. Green economy, green growth, sustainable development. 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. Green economy assessment report kenya green growth.
The oekom verlag takes a consistent stand for sustainability as a publisher and also as. A major purpose of the green economy is to stimulate green investments in and across various economic and social sectors. The concept of blue economy, which has been referred to also as, blue green economy or blue growth, the new maritime green economy eu, 2011, green economy in a blue world. Nigerias phase1 privatisation programme 198893 was deemed successful with measurable benefits to the economy. Accepted 17 january, 2012 this article examined the short and longrun relationships between economic growth and insurance sector development in the nigerian economy. Many countries are pr omoting a green economy which is a clean and energy efficient economy. Besides, key developmental areas that require sustainability in nigeria are addressed. Blue economy was used to reflect an evolution and refinement of the green economy concept2. Following the 200809 global financial crises, the banking sector was effectively recapitalized and regulation enhanced. The economic development and poverty reduction strategy edprs is the framework for achieving vision 2020 and the millennium development goals mdgs.
Nigeria needs to be a part of the global green economy gov. 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. Such an environment will also need to be transparent and accountable. As nigeria works towards achieving a green economy, stakeholders have said that a good environmental governance is key. Nigeria s dependence on fossil fuel has been affecting the environment negatively. The study covers poverty alleviation and economic growth in nigeria ranging from the year 198020. Nigerias economic recovery continues to be hampered by structural bottlenecks in the economy. Nigeria needs to join global green economy uk high commissioner. Green economys appeal lies in the tendency to combine endogenous and. The project is designed in response to a request from the government and the agreement has already been signed with the government of nigeria. 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.
This is followed by a focus on green economy as a means or an end in itself. Over 4,000 samples collected for analysis from more than 200 sites media resources press release en press release fr executive summary download images site fact sheets. A guide to international green economy initiatives sustainable. The development of new energy depends on policy guo, 2011.
Challenges to economic growth in nigeria michael amati jose ardavin jeanette fershtman 14 may 2004. Pdf green economy and its implications for economic. A transformation to address multiple crises and provides a common reference for united. It maps out broad support for advancing green finance as a key aspect of sustainable development. Aziz a, shamsuddin shahid a, muktar muhammad b, fauzan mohd jakarmic. Nigeria needs to be part of that positive agenda, and the global green economy, weakening its dependence on oil and strengthening its green industry. Employing the political economy approach this study explores relevant concepts, identifying the core meaning of the. Nigeria economy is recovering, but too slow to reduce. The attempt to restructure the economy through privatisation is currently at a snails pace. After independence, the nigerian economy seemed very promising. Odimegwu onwumereinvestigates in this report that the country is also head bent in grabbing the opportunity evolving around its marine, therefore using the paradigm shift to provide jobs and social reimbursements and also, not eschewing the protection of. However, the imf stressed that the countrys growth is still constrained below the level needed to reduce poverty and improved development outcomes. Outside of transportation and, perhaps, a small section of the industrial sector, the petroleum economy has very little linkage with nigerian.
Governance challenges for a green economy in africa united. Green economy and its implications for economic growth in. Public disclosure authorized nigeria economic report. Nigeria economy is recovering, but too slow to reduce poverty. Colonialism is a major feature of the economic history of nigeria. I firmly believe this is an area where we should look to strengthen our bilateral collaboration. Green economy and its implications for economic growth in nigeria. 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. Prospects for achieving sustainable development through.
Aug 25, 2017 nigeria is moving a strong position for the realisation of the green economy by carving a niche for sustainable wealth and development. By implication, nigeria is africas largest economy overtaking south africa in gdp. Currently, only about 9% of the ncsds fall into this category. In the 1960s, nigeria was on a par, in terms of aspirations to attain a very high level of economic growth and development, with its fellowoil producing and exporting countries such as malaysia and indonesia, but has since failed to keep pace with them. The paper examined the impact of environmental degradation on economic development of nigeria. Insurance sector development and economic growth in nigeria.
Nigeria has overtaken south africa as the continents largest economy after it overhauled its gross domestic product data for the first time in more than two decades official figures for 20. For instance, public expenditure on research and development can be an effective means of stimulating the innovation necessary to transition to a green economy. So, a green economy needs the support of public policy. Green growth development in lagos state lagos state is the smallest in landmass but the most populous in nigeria with 18million population. Renewable energy is one major sector of the green economy that will help reduce green house emissions into the atmosphere. Babu gopinatahn clearing a spot for tree planting at a school in ogoniland, nigeria. Overview of the nigerian economy african development bank. Nigeria pulled out of its imf program in april 2002, after failing to meet spending and exchange rate targets, making it ineligible for.
Policy measures to support inclusive and green business models. Green economy advocates good governance as an essential prerequisite for achieving sustainable development. This first nigeria economic report will give some attention to longer term trends in the coun. Nigeria becomes africas largest economy get the data. Governing green inclusive green economy in africa gigga.
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. Also, it further stated that the nigeria foreign exchange market is still segmented and reserves are still dependent on hot money. To achieve this purpose, the paper has been structured into six sections with the introduction as section one. In recent years, kenya has adopted several green economy related approaches and policies, which include implementing renewable energy feedin tariffs in 2008, embedding sustainable natural resource utilization into its 2010 constitution and mainstreaming. Limitation of the study this research work has not been without some challenges these constraints are likely to make the. Articles and excerpts that illustrate green economy and.
Green economy and its implications for economic growth in nigeria osmond n. Determinants of economic growth in nigeria kazeem b. Recent developments on green growth in nigeria oecd. The economic reforms and prudent policies have contributed to the consolidation of. 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. Nigeria needs to be part of that positive agenda, and the global green economy, weakening its dependence on.
In order to encourage local and foreign investment, it is essential to have a stable and predictable macroeconomic environment. Cia world fact book, 2004nigeria wikisource, the free. This paper examines the green economy framework and its implications for sustainable growth and development of the nigerian economy. However, these policies have not yielded significant result. Rainfall is likely to continue over the lake victoria basin, the highlands west of the rift valley, the central and. The role of impact assessment in transitioning to the green economy 30th annual meeting of the international association for impact assessment 611 april 2010, international conference centre geneva switzerland. I believe we can do more to support growth and innovation in a new global green economy. Nigeria is one of the largest countries in africa, with a total geographical area of 923 768 square kilometers and a. The economy is recovering, but the imf expresses concern. Pdf greening nigerias economy for industrial and environmental.
They argued that this is the best way of reducing environmental and. Information on the origin and meaning of a green economy, and how a green economy can be implemented in south africa, is described. Kenya has taken several steps towards a green economy and developed a strategy that seeks to consolidate, scale up and embed green growth initiatives in national development goals. Kenya has one of the most dynamic economies in africa, yet it is facing a number of pressing economic, environmental and social challenges. Although nigeria, africas biggest economy on the west coast. Gigga is a network grant project funded by esrc under the global challenges research fund. Data used for this study was gotten from central bank of nigeria cbn statistical bulletin. South africa is in a unique position to exploit the emergence of green economic development in the world. The 2011 unep green economy report argues that to be green, an economy must not only be efficient. It is the only state that has the office of transformation to green reforms and growth in the chief executive officer governors office in nigeria. How nigeria can transit to green economy, by experts the. Britain eventually gained control of nigerian administration.
Economic growth, nigeria, gross fixed capital formation, infrastructural development, ols and granger causality. The green economy is an approach to overcome the deepening ecological and development crisis. Lessons from benin, ethiopia, ghana, namibia and nigeria. Working towards a balanced and inclusive green economy fao. About green economy department of environmental affairs. For nigeria to successfully transit to a green economy, there is need for the enforcement of existing legislations on sustainable environment. Prospects for achieving sustainable development through the.
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