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Ekwueme Varsity Centre Explores Economic Analysis Of Green Investment Opportunities In Nigeria

Prof. chukwumerije-okereke
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Economic and climate experts, policy makers and other stakeholders will meet in a webinar later this week to discuss a report that analysed inclusive green recovery and transition opportunities in Nigeria with a focus on the energy and agricultural sector.

The essence of the economic analysis is to analyse green economic opportunities in the energy and agriculture sectors and provide sound evidence to help make national and selected sub-national governments’ investments more efficient to support green recovery and transition opportunities. The costs and benefits analysed are environmental, health, and employment opportunities from each GR option.

The analysed options in the agricultural sector are as follows:

  • Sustainable rice management (SRM): intermittent aeration of rice paddy fields (~50% of total land area under paddy rice cultivation)
  • Sustainable cattle production (SCP): increase national cattle herd growth rate from current 1.5% growth rate to 3.3% per annum using sustainable/intensive management methods; and
  • Sustainable forest and land management (SFLM): improved natural forest management (~128,528 ha of natural forests).

The analysed options in the energy sectoranalysis are as follows:

  • Off-grid solar home system: providing 5 million off-grid households and SMEs with solar power.
  • Green energy for education: providing off-grid solar power supply to seven federal universities and seven university teaching hospitals across Nigeria.
  • Green energy for health: providing off-grid solar power supply to seven federal university teaching hospitals across Nigeria.
  • Substituting 30 million homes cooking with dirty fuels traditional biomass to LPG; and
  • Moving 7.3 million households currently cooking with traditional biomass to improved cookstoves.

The webinar, entitled “Economic analysis of green investment opportunities in Nigeria”, which is organised by the Centre for Climate Change and Development at Alex Ekwueme Federal University Ndufu Alike (AEFUNAI), Ebonyi State, in partnership with World Resources Institute (WRI) Washington DC, will hold on Wednesday, November 30, 2022 at 4pm West African Time (WAT).

The webinar is an integral part of a project aimed at conducting an economic analysis to identify inclusive green recovery and transition opportunities in Nigeria with a focus on the energy and agricultural sector in support of the Federal Government of Nigeria’s efforts to fulfil its NDC target and drive economic recovery and green growth, commissioned by the World Resources Institute (WRI) as part of the multi-country New Climate Economy (NCE) Project with support from Denmark’s Ministry of Foreign Affairs and implemented by The Centre for Climate Change and Development, Alex Ekwueme Federal University, Ndufu-Alike Ikwo.

The aim of the webinar is to disseminate the findings of the economic analysis and to increase public awareness of, and stakeholders’ engagement in with the economic analysis, as well as to persuade the Nigerian Government at all levels to adopt the report in their present and future plan.

Speaking on the forthcoming webinar, the Director of Centre for Climate Change and Development, Alex Ekwueme Federal University, Ndufu-Alike Ikwo, Prof. Chukwumerije Okereke, said that the webinar would offer a great platform for the sharing of findings from the economic analysis to the larger public, engaging the critical stakeholders and having critical discussion on the findings by experts across the captured sectors.

He pointed out that the webinar would be interesting and educating as some provocative findings from the conducted analysis will be shared and recommendations from the virtual event documented and submitted to relevant government agencies for actions and implementations.

According to Professor Okereke, “The main presentations will draw from “Economic analysis of green investment opportunities in Nigeria”, a commissioned analysis by the World Resources Institute (WRI) as part of the multi-country New Climate Economy (NCE) Project with support from Denmark’s Ministry of Foreign Affairs and implemented by the Centre for Climate Change and Development, Alex Ekwueme Federal University, Ndufu-Alike.

The webinar will feature Dr. Robert Onyeneke of the Department of Agriculture, AE-FUNAI; Mr. Chukwuemeka Emenekwe of the Department of Economics and Development Studies, AE-FUNAI; and Dr. Sanjo Faniran, Director, United Nations System Unit, International Cooperation Department, Ministry of Budget and National Planning as panelists, and discussant while Professor Chukwumerije Okereke, Director, CCCD AEFUNAI, is the host and facilitator.

By Chinedu Nwasum

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