Nigeria needs $142 billion to meet climate change target
The Nigeria Nationally Determined Contributions, NDC, ambition under Climate Change Accord will cost estimated $142 billion, to meet the 2030 target.
The Minister of State for Environment, Ibrahim Jibril, disclosed this at the UN while presenting Nigeria’s progress report on climate change goal under the Sustainable Development Goals.
The NDC is a binding agreement, which spelt out the actions a country intends to take to address climate change – both in terms of adaptation and mitigation – when it ratifies the Paris Agreement.
The minister said: “The delivery of our NDC will require a fundamental re-orientation of financial flows within the economy.
“It is estimated that Nigeria will require around $142 billion, translating to about $10 billion per annum to meet her NDC target by 2030,” he said.
CIFOR