The Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama says embracing a green economy will bring numerous benefits, including economic diversification, job creation, and improved public health to Nigeria.
Agama said this at the Oriental News 2024 Summit in Lagos on Thursday.
The summit has the theme, “Green Economy, Sustainable Growth and Infrastructure Transformations.”
The director-general, who was a guest speaker at the event, emphasised the importance of developing green infrastructure in urban areas to enhance air quality and reduce greenhouse gas emissions.
Agama stressed that both the government and the private sector must adopt a green economy to address Nigeria’s diverse problems.
He underscored the need for Nigerians to take a keen interest in climate change issues, which affect all aspects of life.
The SEC boss pointed out that each of Nigeria’s six geopolitical zones faces unique climate challenges, necessitating tailored policies and strategies to develop a sustainable green economy.
“The backbone of our efforts must be the development of robust policies and strategies.
“The green economy resonates with nature and Nigeria, with its diverse landscapes from deserts to marine environments, is uniquely positioned to lead in this area,” Agama said.
He expressed concern over Nigeria’s historical neglect of an economy that could sustain its natural resources, leading to widespread poverty.
He emphasised the need to address foundational issues through a green economy, focusing on reducing carbon emissions and preserving biodiversity.
Agama noted the significant impact of environmental degradation on public health and local industries, such as the fishing sector, which relies heavily on frozen fish due to pollution.
He urged the country to harness its opportunities, such as turning waste materials into valuable products.
Transitioning from an oil and gas-dependent economy to a green economy, he argued, would enhance resilience against global oil price volatility and reduce environmental impact.
Highlighting Nigeria’s rich deposits of lithium, a key component in solar technology, Agama called for greater exploitation of these resources.
He suggested establishing solar energy estates in the northern regions to boost power generation and create employment opportunities.
He cited the high energy costs faced by institutions like the University of Benin and Ahmadu Bello University, stressing the potential savings and job creation from renewable energy projects.
Agama envisioned a future where Nigeria leads in green technology, promoting public health and reducing reliance on polluting energy sources.
He noted the high annual death toll from generator fumes and the potential for renewable energy to save lives and improve living conditions.
He also addressed the need for environmental sustainability, pointing out significant challenges such as water pollution, soil degradation, and deforestation.
