Paris Agreement Nigeria

Nigeria has signed the Paris Agreement, the international agreement on combating climate change. It ratified the agreement in 2017. It has pledged to reduce its greenhouse gas emissions by 20% by 2030 compared to the « business as usual » level. This commitment increases to 45% subject to international aid. MoU has reached an agreement for the Nigerian and Singapore stock exchanges to cooperate in the exchange of best practices and to organize joint initiatives in their respective markets. In a statement to Lagos, the NSE was quoted as saying that the partnership had stepped up its efforts to promote the growth of sustainable financing in Nigeria. (Aboutews) The initiative identified 14 projects that could help Nigeria meet its climate promise at a cost of $500 million. Most of the projects involve Nigeria, which is developing more solar energy. Nigeria has several plans for climate change at the national level, but little or nothing is being done to help homes and communities implement these plans.

There is an urgent need for an effective monitoring and evaluation system to assess the effectiveness of climate change policy. NiMet also predicted that due to these climatic conditions, the incidence of malaria and other diseases would be higher in areas where temperatures are between 18 and 32C and where humidity is above 60%. A study published in 2019 showed that oil pollution in the Niger Delta was associated with a doubling of the infant mortality rate in the region. The results « consistent with medical and epidemiological evidence that exposure to hydrocarbons may pose risks to fetal development, » the study authors said. Buhari also promised to revive Nigeria`s economy. Although it is Africa`s largest economy, it is highly dependent on oil exports and is therefore vulnerable to changes in oil prices. In 2016, the country entered recession following a drop in oil prices. There are fears that the fall in oil prices this year, fuelled in part by the global reaction to Covid-19, could plunge Nigeria into its worst recession in 40 years.