Economy will prosper if climate threats are tackled – NESG

The Nigerian Economic Summit Group (NESG) has said that Nigeria’s economy will prosper if threats of climate change are tackled.

The group said it recognised the threats of climate change to economic growth which was why the forthcoming 30th Nigeria Economic Summit would lead discussions on building climate resilience solutions in Nigeria.

The acting Head, Strategic Communications and Advocacy of NESG, Ayanyinka Ayanlowo, in a statement yesterday, said that Nigeria Economic Summit, with the theme: “Collaborative Action for Growth, Competitiveness and Stability”, aimed to harness diverse perspectives and collective expertise to address common challenges, create shared opportunities and ensure sustainable economic progress for all Nigerians and the economy at large.

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The statement reads in part: “In 2022, Nigeria experienced devastating floods that claimed the lives of at least 662 people, injured 3,174 individuals, displaced approximately 2.5 million people and destroyed around 200,000 homes.

“The impact on the economy cannot be overemphasised, and it is high time government at both federal and sub nationals drew out strategies of tackling severe climate change threats which are capable of harming different sectors of the economy.”

On his part, Private Sector Co-Chair of NESG’s Sustainability Policy Commission (Steering Committee), Mr Osagie Okunbor, said the challenges of climate change were already causing significant socio-economic disruptions in the Niger Delta, with ocean encroachment and rising sea levels threatening homes and farmlands.