Saturday 21st October, 2017
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N8.1bn inadequate to tackle climate change in 2017 - Reps

N8.1bn inadequate to tackle climate change in 2017 - Reps

The House of Representa­tives Committee on Cli­mate Change on Wednes­day in Abuja said that N8.1 billion earmarked in the 2017 appropriation bill to fight the effects of climate change in the country was inadequate.

Chairman of the Commit­tee, Hon Sam Onuigbo (PDP - Abia) said this when the Min­istry of Environment defended its 2017 budget proposal.

“We have noted with pro­found concern that modest amount deliberately set aside by the budget office for agencies to tackle climate change and also lay the foundation for the na­tion to benefit from investment opportunities that abound in this exercise.

“However, when you juxta­pose Nigeria’s investment of $8 million against investments in climate change activities by our peers, Nigeria’s investment pales rapidly into insignificance.

“We have abiding respon­sibility to meet our Nation­ally Determined Contributions (NDCs) and demonstrate to the world that we are a serious na­tion that is always prepared to match Federal Government’s signing of Paris agreement of Sept. 22, 2016 and other lofty declarations with verifiable ac­tions at home,” Onuigbo said.

He declared that the legis­lature through a joint climate change committee of the Senate and the House is working on a Climate Change Legal Frame­work Bill for Nigeria to cre­ate the appropriate regulatory framework to facilitate invest­ment and mainstream climate change.

He also emphasized the need for strengthened synergy be­tween the legislature and the ex­ecutive in mitigating the effects of climate change while acceler­ating industrialization in a way that supports rapid and resilient economic growth.

However, the Permanent Secretary, Ministry of Environ­ment, Dr Bukkar Hassan, said that plans are underway to issue $20 billion bonds to raise funds to combat the effects of climate change in the country.

According to Hassan, the bond tagged “Green Bond” will be issued ending of March 2017.

The permanent Secretary said it was a new means of gen­erating resources for climate change activities and to ensure sustainable development.

He said that the ministry’s plan to execute 31 projects in six geo political zones is intended to ensure the country develops in harmony with her environ­ment.