Dreaming of Wakanda

Climate change presents a global crisis that disproportionately impacts developing countries such as Nigeria. Less than a year ago, large areas of Nigeria faced critical humanitarian challenges, leading to multiple deaths, widespread public health issues, food shortages, and significant internal displacement. Those unfamiliar with Nigeria might mistakenly believe that these problems stemmed from internal conflict. In reality, they were caused by devastating floods in several states. Benue, Borno, and Jigawa states suffered significant flooding, worsened by climate change, which claimed lives and destroyed properties. Although state and federal emergency response teams managed to alleviate some immediate effects of the disaster, the long-term socio-economic damage and the need for preventive measures often go overlooked. The state, hindered by inadequate financial resources and a reduction in productive output caused by the disaster, struggles to afford the capital needed to develop the...

  Against the backdrop of the recently concluded UNFCCC Conference of Parties (COP) 29 in Baku, Azerbaijan, it is evident that climate change is not just an environmental issue but an economic one, with far-reaching implications for Nigeria’s development. As the largest economy in Africa, Nigeria is at a critical juncture where climate finance can play a pivotal role in driving sustainable development. With a rapidly growing population, estimated to surpass 400 million by 2050, the need for sustainable development has never been more urgent. Climate finance, the funding channeled towards activities that mitigate or adapt to climate change, offers a unique opportunity to address these challenges while unlocking economic growth. Much furore has been made about the New Collective Quantified Goal (NCQG) on Climate Finance that was agreed at COP29, with numerous developing nations, including Nigeria, registering their displeasure at the USD$300 billion per year pledge made by the deve...