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Nigeria Looks to World Bank to Tackle Challenges of National Capital Accounting
Nigeria Looks to World Bank to Tackle Challenges of National Capital Accounting
By: Michael Mike
As the world marks the 2025 Environment Day, the National Bureau of Statistics (NBS) has appealed to the World Bank for support on capacity building, data and in addressing the challenges poised by Natural Capital Accounting (NCA) in the country.
Head of Department, National Accounts Energy and Environment at the NBS, Dr. Baba Madu made the appeal at the 2025 Natural Capital Accounting (NCA) Conference on Thursday in Abuja with support from the World Bank in. collaboration with the NBS and the Federal Ministry of Environment.
Madu while noting that the NCA was a new area Nigeria must exploit to further boost the nation’s economy, said for Nigeria to grow and be at par with other developed nations, there was need to account for her natural resources.
He said: “NCA has been tasked with the crucial role of integrating natural capital into economic measurement. It is impossible to measure the economy accurately without accounting for natural resources. Issues such as environmental degradation, afforestation, desertification, and climate change all directly impact productivity.
“Productivity in turn, influences output—one of the core components of the Gross Domestic Product (GDP). These environmental factors must be reflected across all economic activity sectors to present a more accurate picture of national output.”
While stating that Nigeria currently has data on NCA in Nigeria, the NBS official however raised concerns over the huge data gap from relevant Ministries, Departments and Agencies (MDAs) in the environment sector.
He said: “We are not doing badly but we need to improve on what we are doing. In terms of data sources, I can tell you there’s a big gap because these are new areas needed to be exploited.”
Programme Leader on Sustainable Development at the World Bank, Vina Vutukuru, said there was need to jointly
explore the vital role of national accounting in national development plans and to brainstorm on how Nigeria could institutionalize it.
He said: “Establishing the national capital accounting as part of the national account system will allow us to measure the economic value of ecosystem services such as clean air, water and biodiversity which are essential for our well-being and economic prosperity.”
Vutukuru commended Nigeria for having “very bold ambitions” as far as responding to climate change was concerned saying, “That shows the commitment of the policy makers here towards the issue of climate.
“But I think to back up that aspiration and the aggressive goals that Nigeria has set for itself, the foundational thing for those goals to materialize those objectives to come true is a very strong natural account system.”
Head of Media, National Council on Climate Change Secretariat (NCCCS), Chioma Azie who represented her Director General, Dr. Nkiruka Maduekwe at the event, described Nigeria as a very ambitious country, stressing that natural resources was instrumental to achieving all the objective of climate action.
She said: “Technology, policy reforms, behavioral changes has a role to play but natural resources is very key because they’re underpinning the mitigation and adaptation for climate action.
“If you look at Nigeria’s NDC, the NCA is an avenue to provide raw materials that we could use to develop mitigation and adaptation strategies.
“If you look at what we have done in terms of this NDC in 2020.which is the second leg of the NDC, we identified a lot of mitigation activities within this mentioned sectors of ours. In agricultural sector we talked about smart agriculture. What is smart agriculture without natural resources?
“We talked about biomass, what is biomass without natural resources? We also spoke about land use changes and that is natural resources, we talk about natural solutions and we talked about also afforestation, reafforestation. Those are mitigation potentials of our NDC. So, we cannot achieve our NDC without SEEA.
“What you cannot be able to account for is recorded as if it is not done so if we know what is existing in terms of the reservoirs we have for natural resources, it can inform the scope of the mitigation activities we’re going to be imputing in the NDC 3.0,” she said.
Nigeria Looks to World Bank to Tackle Challenges of National Capital Accounting
Nigeria Sympathizes with Cuba, Jamaica, Haiti on Devastation of Hurricane Melissa
By: Michael Olugbode
Nigeria has sympathized with the governments of Cuba, Haiti and Jamaica over the catastrophic impact of Hurricane Melissa that ravaged the countries.
A statement on Sunday by the spokesperson of the Ministry of Foreign Affairs, Kimiebi Ebienfa read: “The Government and people of the Federal Republic of Nigeria have received with profound sorrow and deep sympathy the news of the catastrophic impact of Hurricane Melissa on our sister nations, the Republic of Cuba, Haiti and Jamaica.
“The images and reports emerging from the countries, detailing widespread destruction, severe flooding, and the tragic loss of lives and livelihoods, are truly heart-wrenching. Nigeria stands in solidarity with the governments and the resilient peoples of Cuba, Haiti and Jamaica during this period of immense adversity and destruction.
“We commend the swift and courageous efforts of the national emergency response teams in both countries, who are working tirelessly under extremely challenging conditions to provide relief and save lives.
“In the spirit of South-South cooperation and the enduring bonds of friendship and solidarity that Nigeria shares with the nations of the Caribbean, the Federal Government of Nigeria extends its heartfelt condolences to the families of the victims and wishes a full and speedy recovery to the injured.
“The Government of the Federal Republic of Nigeria calls upon the international community and our partner organisations to rally in support of Cuba, Haiti and Jamaica, and to provide all necessary assistance to help these nations in their urgent recovery and rebuilding efforts.
“Our thoughts and prayers are with the Government and people of the Republic of Cuba, Haiti and Jamaica.”
Nigeria Sympathizes with Cuba, Jamaica, Haiti on Devastation of Hurricane Melissa
News
NCYP Urges Tinubu, Northern Governors to Safeguard Inter-Religious Peace After U.S. CPC Designation
NCYP Urges Tinubu, Northern Governors to Safeguard Inter-Religious Peace After U.S. CPC Designation
By: Michael Mike
The Northern Christian Youth Professionals (NCYP) has urged President Bola Tinubu to ensure that Nigeria’s recent designation by the United States as a Country of Particular Concern (CPC) does not degenerate into religious tension or undermine peaceful coexistence between Christians and Muslims, especially in the northern region.
Reacting to the public response that followed the announcement by U.S. President Donald Trump, NCYP called for calm and constructive dialogue, warning that while international engagement is important, neglecting domestic dialogue would be a costly mistake.
The group noted that public reactions on social media already underscore the urgent need for local engagement in order to prevent the situation from escalating into inter-religious misunderstanding or violence.
The group, in a statement signed by its Chairman, Isaac Abrak, said: “We recalled that Bishop Matthew Hassan Kukah and NCYP had earlier appealed to the U.S. Government not to list Nigeria as a CPC, warning that such a move could “undermine the delicate interfaith dialogue and reconciliation efforts built over the years.” Unfortunately President Trump has still gone ahead and listed Nigeria, as such we must not allow this fear to turn into reality.
“While we commend President Tinubu for his inclusive approach to governance and his ongoing efforts to address insecurity, the NCYP stresses that more must be done to protect innocent lives—Christian, Muslim, or otherwise—and to strengthen national unity.
“NCYP must also express our concern that many northern governors have remained silent on this matter, as this is ia clarion call to the Northern Governors Forum, led by Governor Inuwa Yahaya of Gombe State, to work closely with the President and stakeholders in preserving the budding peace between the two faiths, particularly in flashpoint areas.
“Finally, NCYP reaffirmed its commitment to promoting unity, tolerance, and peace across Nigeria.”
NCYP Urges Tinubu, Northern Governors to Safeguard Inter-Religious Peace After U.S. CPC Designation
Buni appoints Dr. Bulama as the new program manager for livestock in Yobe
By: Yahaya Wakili
Governor Mai Mala Buni CON, COMN, of Yobe State, has appointed Dr. Bulama Maina Yaro as the new program manager of the Yobe State pilot livestock development program.
The appointment letter was signed by the Acting Head of Service, Alhaji Abdullahi Shehu, who revealed that the appointment takes immediate effect.
Governor Buni urged the new program manager to bring his wealth of experience, dedication, and professionalism to bear in advancing the objectives of the livestock development program in Yobe State.
According to Governor Buni, the Yobe state government remains committed to the sustainable transformation of the livestock.
He revealed that, in line with its broader agenda for agricultural development and economic diversification.
Buni appoints Dr. Bulama as the new program manager for livestock in Yobe
Nigeria Sympathizes with Cuba, Jamaica, Haiti on Devastation of Hurricane Melissa
NCYP Urges Tinubu, Northern Governors to Safeguard Inter-Religious Peace After U.S. CPC Designation
Buni appoints Dr. Bulama as the new program manager for livestock in Yobe
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