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Dr. Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), asserts that adopting a green economy will yield substantial benefits for Nigeria, including economic diversification, job creation, and enhanced public health.
Speaking at the Oriental News 2024 Summit in Lagos on Thursday, themed “Green Economy, Sustainable Growth and Infrastructure Transformations,” Agama emphasized the significance of developing green infrastructure in urban areas to improve air quality and reduce greenhouse gas emissions.
Agama highlighted the necessity for both government and the private sector to embrace a green economy to address Nigeria’s various challenges. He urged Nigerians to pay closer attention to climate change issues that impact all aspects of life.
The SEC chief noted that each of Nigeria’s six geopolitical zones faces unique climate challenges, necessitating tailored policies and strategies to develop a sustainable green economy. Robust policies and strategies must underpin these efforts.
“The green economy aligns with nature, and Nigeria, with its diverse landscapes from deserts to marine environments, is uniquely positioned to lead in this area,” Agama stated. He expressed concern over Nigeria’s historical neglect of an economy that could sustain its natural resources, which has led to widespread poverty.
Agama emphasized the need to tackle foundational issues through a green economy, focusing on reducing carbon emissions and preserving biodiversity. He 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 converting 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.
Agama’s vision underscores the transformative potential of a green economy in driving Nigeria’s diversification and job creation efforts, while also fostering a healthier environment.
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