The Adviser to the Lagos State Governor on Climate Change and Circular Economy, Titilayo Oshodi, has raised Concerns over what he described as the potential economic impact of climate change on Nigeria, noting that the menace could cost the state as much as $25bn if urgent steps were not taken.
Lagos state has been in the news after several videos of residents struggling to navigate flooded roads made the rounds on social media.
Speaking at the 36th edition of Platform Nigeria, Oshodi warned that without immediate action, Lagos State alone could suffer an estimated $22 to $25bn in economic losses due to the effects of climate change on critical sectors, such as agriculture and tourism.
Read also: Data shows temperatures 1.5C above pre-industrial era average for 12 months
“If climate change is not addressed quickly in the country, Nigeria will face major economic losses that will run into billions of naira soon,” he was quoted as saying. “The inaction could cost Lagos State an estimated $22 to $25bn due to the adverse effects of climate change on key sectors such as agriculture and tourism,”.
Oshodi also highlighted potential economic opportunities if Nigeria leveraged its inherent resources and invested in sectors like agriculture, solar energy, and green manufacturing.
Story was adapted from Punch.
