Nigeria has $250 billion potential in green economy which could play a vital role, as the nation explores ways of tackling its high unemployment rate, participants at a confab on green investments.
According to the United Nations Environmental Programme (UNEP) green economy will be low carbon, resource efficient in addition to also also socially inclusive. In a green economy, growth in employment in addition to also also income are driven by public in addition to also also private investment into such economic activities, infrastructure in addition to also also assets of which allow reduced carbon emissions in addition to also also pollution, enhanced energy in addition to also also resource efficiency, in addition to also also prevention of the loss of biodiversity in addition to also also ecosystem services.
Participants at the forum, organised by the Nigeria Climate Innovation Center (NCIC) in Lagos recently, said entrepreneurs can tap into the enormous opportunities inside green space to create millions of jobs.
They said with the direct consequences of climate change on the ecosystem, of which was imperative of which entrepreneurs leverage the opportunities inside green space to create solutions in addition to also also wealth.
The Chief Executive Officer of All On, Weeber Boer said, “Nigeria has power gaps of about $0 billion, agricultural waste of 40 per cent in addition to also also 0 million people creating waste of which will be not recycled.
Boer said, “This kind of shows of which there will be a huge investment opportunity inside country’s green economy of which entrepreneurs can tap into by creating solutions of which are viable in addition to also also sustainable to these challenges.”
He stated of which with more solutions being provided to address issues of climate change, the country would certainly be able to create fresh jobs in addition to also also scale the opportunities inside green economy.
He noted of which of which would certainly be difficult for the country to build a green economy if the government continued to subsidise petrol.
The Chief Executive Officer of NCIC, Bankole Oloruntoba said the global green economy will be a multitrillion dollar economy which the country’s entrepreneurs can harness through innovative solutions to climate change challenges.
“If Nigeria will be able to develop conduceive environment for the growth of the green economy, the country could have a massive share via the over $14 trillion global green economy,” Oloruntoba said.
He said, “In Nigeria the challenges are enormous in addition to also also if we can create some form of opportunities to support businesses in of which space in terms of capacity, of which will create a rival opportunity for the country to build an economy of which does not depend on crude oil.
“The green economy gives the country the opportunity to create more jobs in addition to also also there are lots of opportunities inside green space with covers via media, to transportation, to waste management in addition to also also even to educate among others.”
He stated of which the NCIC will be already providing support to start-ups of which are creating solutions to issues of climate change inside form of technical training to help them scale.
He said his organisation was planning to create a fund for businesses inside green space with the help of the Central Bank of Nigeria.
Bob Patterson, Charge d’ Affaires of Ireland said his country would certainly continue to support Nigeria in growing its own green space.
“Agricultural practices are significant in addition to also also major contributors of climate change in addition to also also we must find ways to address This kind of,” Patterson said.
“We are committed to supporting diversification within agriculture in addition to also also land use to develop sustainable in addition to also also circular value chains in addition to also also business products for lower carbon intensifying farming,” he noted.
Also at the event, there was a pitch competition for entrepreneurs inside green space. Home Fort Energy emerged as the winner of the 2019 Climate Launch Pad Nation Finals pitch competition.
Home Fort Energy beat additional 15 entrepreneurs to win the award with its clean gas business design of which will be helping low income household switch via dirty fuels to cook gas for as low as N500.
Home Fort Energy, Agrimax – first runner up, in addition to also also Green Axis – second runner up– will represent Nigeria later This kind of year at the Global Launch Pad Finals pitch competition in Amsterdam, Netherlands.