Nigeria’s policy efforts structured to meet SDG 13 on climate action –AfDB
Written by on May 26, 2022
Nigeria’s policy efforts portend well for meeting the Sustainable Development Goal (SDG) 13 on climate action by 2030.
However, risks abound, the African Development Bank (AfDB) economic report reveals.
The AfDB’s African Economic Outlook 2022 unveiled at the Bank’s Annual Meetings in Accra, Ghana on Thursday revealed that the Climate Change Act (2021) aligned with the medium-term National Development Plan provided the legal framework.
It said that investment in clean energy and smart agriculture was vital to the country’s economic transformation.
The report said that climate proofing technology was also key to export-led diversification in the country.
On the economy, the report said that the projected marginal current account surplus of 0.1 per cent of the Gross Domestic Product (GDP) in 2022 could turn into deficit of 0.2 per cent in 2023.
Speaking on the report, Dr Akinwumi Adesina, the President, AfDB Group, said that Africa needed to tackle climate change to ensure inclusive growth.
Adesina said the release of the report came against a backdrop of two major global crises of Covid-19 pandemic and the Russia-Ukraine conflict.
The the theme of the 2022 annual meetings is “Achieving Climate Resilience and a Just Energy Transition in Africa’’.