Overview of the nigerian economy african development bank. 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. Articles and excerpts that illustrate green economy and. Kenya green economy strategy and implementation plan 2016. Ghana provides comparative scenarios for future growth that estimates economic, environmental and social impacts. It documents good practices, success stories and lessons learned in selected sectors of the countrys economy. Rationale for the study a green economy values and invests in natural capital. Renewable energy is one major sector of the green economy that will help reduce green house emissions into the atmosphere. Key technologies for green growth and energy a policy framework for greening energy policies for green growth in speci. There is no unique definition of the green economy, but the term itself underscores the economic dimensions of sustainability or, in terms of the recent unep report on the green economy, it responds to the growing recognition that achieving sustainability rests almost entirely on getting the economy right. 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.
The quest to sustainable development and emergence of green growth economy has continued to dominate the central issue of economic development policy and. They argued that this is the best way of reducing environmental and. Contribution of agriculture to economic growth in nigeria1. Employing the political economy approach this study explores relevant concepts, identifying the core meaning of the. The contribution of agriculture to economic growth is further affirmed from a causality test which showed that agriculture growth grangercauses gdp growth, however no reverse relationship was found. The intention of producing this document is to make available for those interested and involved in green economy and sustainable. Green economy, green growth, sustainable development, environment. Green economy, renewable energy, clean energy technology, fossil fuel. Recent developments on green growth in nigeria oecd. Nigeria needs to be a part of the global green economy gov. Green economy and its implications for economic growth in nigeria. Nigerias dependence on fossil fuel has been affecting the environment negatively.
It is the only state that has the office of transformation to green reforms and growth in the. This brochure aims to provide a short explanation of green finance to readers outside of the finance space. The project is designed in response to a request from the government and the agreement has already been signed with the government of nigeria. Chapter three from green bonds to sustainable development. The event gathered over 100 participants coming from 34 countries, including policymakers from page countries, representatives from civil society, trade unions, business associations, and knowledge and research institutes. The economy of nigeria is a middleincome, mixed economy and emerging market, with expanding manufacturing, financial, service, communications, technology and entertainment sectors.
The role to oversee green economy growth in south africa is a coresponsibility of the economic development department and department of trade and industry. The development of new energy depends on policy guo, 2011. How nigeria can transit to green economy, by experts the. Green economy, green growth, economic growth, sustainable development, externalities, pollution and nigeria 1. It maps out broad support for advancing green finance as a key aspect of sustainable development. So, a green economy needs the support of public policy. Nigeria needs to be part of that positive agenda, and the global green economy, weakening its dependence on. The third edition of the global academy on the green economy took place in turin, italy from 14 to 18 october 2019.
Governing green inclusive green economy in africa gigga. 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. The implementation of south africas green economy strategy is significantly decentralised and includes all levels of government. Green growth development in lagos state lagos state is the smallest in landmass but the most populous in nigeria with 18million population. 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. Because sustainability cuts across industries and sectors of the u. For nigeria to successfully transit to a green economy, there is need for the enforcement of existing legislations on sustainable environment. Green economy and its implications for economic growth in. It is ranked as the 27thlargest economy in the world in terms of nominal gdp, and the 22ndlargest in terms of purchasing power parity. Greenhouse farming in nigeria is the business of working on and managing the growing of crops and plants inside a greenhouse. 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. To order copies of greening africas industrialization, economic report. To measure the green economy, it is possible to measure the presence of green jobs, green markets, and investment in green industries. A green economy is low carbon and resource efficient.
Abstract the research focused on a critical appraisal of the implications of green marketing for a developing economy. The inaugural edition of the journal green chemistry, sponsored by the royal society of chemistry, appeared in 1999. The green economy is one in which the vital linkages among the economy, society, and environment are taken into account and in which the transformation of production processes, and consumption patterns, while. Greenhouse farming technology makes it possible to grow tropical crops pineapples, tomatoes, peppers in the cold regions of russia and france. Ghanas effort towards the emergence of green economy. The batumi initiative on green economy bige is a set of voluntary commitments by more than 30 european countries and organisations. Ecosystem services are better conserved, leading to improved safety nets and household incomes for poor rural communities. We are at the start of the development of a sustainable or green economy.
The story of structural adjustment programme in nigeria from the perspective of the organized labour nwagbara, eucharia nwabugo, ph. Gigga is a network grant project funded by esrc under the global challenges research fund. 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 closely related with ecological economics, but has a more politically applied focus. Reshaping the political economy political economy achieving change in different country contexts structural adjustment. Learn more about the nigeria economy, including the population of nigeria, gdp, facts, trade, business, inflation and other data and analysis on its economy from the index of economic freedom. Such investments should help to use natural capital and ecosystems, both considered to be critical economic assets, in a more. Five focus areas transport, water, energy, waste, and agriculture are used to illustrate south africas unique challenges and to identify practical opportunities to realise a green economy. Nigeria should create awareness throughout the nation and restructure our economic policy in favour of renewable energy which will provide clean energy. Hence, we may conclude that green chemistry is here to stay. Benefits of a green economy transformation in subsaharan africa.
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. In a green economy, growth in income and employment should be driven by both public and private investment unep, 2011. Ecologically friendly farming methods improve yields significantly for subsistence farmers. Growth and equity in nigeria in the current strategic plan 20102014 of the. The study sought to investigate the extent green marketing is practiced by producers and consumers in developing countries as well as their challenges. 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. Nov 04, 2016 i believe we can do more to support growth and innovation in a new global green economy. Kenya green economy strategy and implementation plan gesip. This paper discusses opportunities for green economy initiatives in the nigeria forestry sector under the categories forest management. I,i federal university of technology owerri a green economy or green growth is an economy that results in improved human well being and social equity, while significantly reducing environmental risks and ecological scarcities.
D department of sociology university of calabar email. Economy recession is a worldwide challenge affecting mostly developing countries especially, nigeria for instance. Deforestation and greening the nigerian environment. It provides recommendations on how greening the agriculture, energy and forestry sectors can catalyze a transition to a green economy in ghana. There is an abundance of literature on green finance, the role and importance of public and private sectors, and a variety of instruments deployed. Lessons from benin, ethiopia, ghana, namibia and nigeria. The nigerian experience by osuji maryann,ukoha,henri. Another more elaborate definition of green economy is. Green economy strategy and implementation plan 20162030 is geared towards enabling kenya to attain a higher economic growth rate consistent with the vision 2030, which firmly embeds the principles of sustainable development in the over. About green economy department of environmental affairs. Energy policy and employment a green economy has the character of public goods.
By 2011, the population was estimated to be 164 million. The green economy is an approach to overcome the deepening ecological and development crisis. 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. Challenges to economic growth in nigeria michael amati jose ardavin jeanette fershtman 14 may 2004. 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. However, much of this information is aimed at experts. This paper examines the green economy framework and its implications for sustainable growth and development of the nigerian economy. 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. 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. Green growth and environmental sustainability in nigeria zbw.