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Nigeria May Lose $460bn To Climate Change -Report
Nigeria may lose $460bn due to climate change by 2050 if urgent actions are not taken to curb its adverse effects, the new Agora Policy report revealed.
The report titled, “Climate Change and Socio-Economic Development in Nigeria,” also showed that Nigeria had lost $100bn to climate change by 2020.
The report produced with the support of the MacArthur Foundation was presented at a one-day policy conversation tagged ‘Nigeria, Climate Change, and the Green Economy,’ as part of preparation for COP28, in Abuja on Wednesday.
The report also highlights the different channels through which adverse effects of climate change could worsen in Nigeria and further compound the country’s developmental challenges.
It also points out the opportunities for Nigeria to foster rapid economic growth, diversify its energy sources, generate employment for its burgeoning youthful and urbanising populace, and address pervasive poverty and inequality through an equitable energy transition.
Presenting the highlights of the report, the Director of the Centre for Climate Change and Development, Prof Chukwumerije Okereke, stated that 25 million Nigerians are at risk of flooding and 630 km2 of land is susceptible to flooding along the Niger-Benue basin in the Niger Delta area.
Okereke said about 357,000 people living in Lagos are exposed to flood and by 2050 3.2 million Lagosians would be exposed to flood.
The don noted that the direct estimate of damage and loss of flooding in 2022 is N1.48tn, while the total damage and loss, including indirect ones, due to the flooding is about N2.6tn.
He, however, recommended strengthened national climate policy frameworks, strengthened institutional capacity, adequate climate funding, fair energy transition, public awareness, collaborative approach, and targeted sectoral interventions.
In his welcome address, the Founder of Agora Policy, Waziri Adio, stated that though some individuals, organisations, and government agencies are implementing consequential climate interventions in the country, climate change is yet to get the prominence it deserves in the country.
“Both in official circles and among the populace, climate issues are not seen as really important and urgent. Our national attitude oscillates between denial and indifference.
“Most of our people, including highly-placed government officials, see climate change as other people’s problems or an issue that is only for tree-huggers and environmentalists, or something that should bother only those who have the luxury of not wrestling with hunger and other existential matters,” Adio said.
He said the increasing threats of desertification and gully erosion and others already have deep, negative impacts on food production, food security, food inflation, water, health, productivity, energy, infrastructure, and on the conflicts that continue to multiply partly on account of vanishing natural resources.
He advised that there is a need to act urgently to prevent the effects of climate change before it escalates into a catastrophic situation.
On his part, the Director of Programmes at CJID, Akintunde Babatunde, said Nigeria’s climate change reality is multifaceted, and there is a need to act on implementing climate change policies.
“We do not lack policies on climate change in Nigeria, we have climate change law, the National Council on Climate Change, the Department of Climate Change at the Ministry of Environment, among others, but our problem is about proper action tailored to address the issues.
“How much can we use to build proper drainages so that it can prevent flooding? How much can we properly use for early warning systems to help with preparations? We need effective implementation of policies and judicious use of financial investment, both by the government and partners, and we need massive awareness by the media,” Babatunde said.
The one-day policy conversation meeting was organised in partnership with the Shehu Musa Yar’Adua Foundation, the Cable Newspapers, the Centre for Journalism Innovation and Development, Clean Technology Hub, the CCCD, and the Nature News.
News
Independence Anniversary: Nigeria Is A Failed Grandfather – Monarch
A first class traditional ruler in Rivers State, His Royal Majesty, King Aaron Ikuru, has described Nigeria at 65 as a grandfather who cannot provide leadership to other African Countries.
The monarch stated this in an interview at his palace in Ikuru Town, yesterday.
According to him, Nigeria would have been a developed country to set the pace in the whole of Africa, considering its numerous resources.
“Nigeria is a grandfather but not behaving as a grandfather. Our country, Nigeria, before and from the era of Independence was in the state of becoming a great country, but unfortunately is not becoming anything.
“We should be far ahead with what we have in the country. God blessed us, we have almost what it takes in terms of mineral resources, manpower amongst others that can drive speedy development in the country.
“If we’re able to harness all the things we have, even America by now would have respected us”, he said.
While blaming the past leaders of the country, the monarch called on the current leadership of the country to redouble efforts in order to narrow the differences in terms of development, exchange rate between naira and foreign currencies.
King Ikuru, who is also the Chairman of Andoni Area Traditional Rulers Council, however, lauded the efforts of the founding fathers, past leaders of the country for the achievements so far.
He also expressed optimism that Nigeria would be great, calling on the opinion leaders to shun tribalism and political intolerance in the country.
“If Nigeria should experience rapid development in all sectors, it means we must shun tribalism and political intolerance, the interest of our country must be our priority.
“We need to fight corruption vigorously, and leaders must show good example of discipline and integrity”, he said.
The monarch used the opportunity to wish Nigeria happy independence anniversary.
By: Enoch Epelle
News
FG begins payment of N32,000 pension increment to retirees – PTAD
The Pension Transitional Arrangement Directorate has announced the start of implementation of the new pension increments for pensioners under the Defined Benefit Scheme, saying the adjustments will be reflected in the September 2025 payroll cycle.
In a statement signed by Management and posted on its X handle, PTAD said the increase package includes a fixed N32,000 payment alongside percentage increases of 10.66% and 12.95% for eligible categories, which will benefit about 832,000 pensioners under its management.
Recall that PTAD in August announced President Bola Tinubu approved a series of measures, including new welfare benefits for pensioners under DBS.
The approval follows a formal request by PTAD’s Executive Secretary, Tolulope Odunaiya, seeking an emergency budgetary allocation to implement pension reforms and welfare benefits for the scheme’s retirees.
The measures include a N32,000 pension increment, percentage increases for pensioners of defunct and privatised agencies, pension harmonisation for all DBS pensioners, enrolment into the National Health Insurance Scheme, and the settlement of long-standing unfunded pension liabilities.
In a statement yesterday, PTAD said the partial release of N820.188 billion by the Federal Ministry of Finance from the emergency funding has made it possible for pensioners to begin receiving the enhanced payments immediately.
The statement read, “Further to the President’s approval of the emergency budgetary allocation for the payment of the new pension increment rates for Pensioners under the Defined Benefit Pension Scheme (DBS) that was earlier published by the Pension Transitional Arrangement Directorate on Friday, 8th August, 2025, the Directorate is delighted to announce the commencement of the implementation of the 832,000, 10.66% and 12.95% pension increment for eligible pensioners under the management of PTAD, in the September 2025 pension payroll cycle.
“This achievement has been made possible through the partial release of 820.188 billion by the Federal Ministry of Finance, from the initial 845 billion emergency funding approval granted by the Federal Government.
“This milestone clearly reaffirms the Federal Government’s dedication to safeguarding the welfare and entitlements of DBS Pensioners in line with the Renewed Hope Agenda.”
The directorate thanked President Bola Ahmed Tinubu for approving the emergency allocation.
It also acknowledged the role of the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun; the Minister of State for Finance, Dr Doris Uzoka-Anite; the Accountant-General of the Federation and key presidential aides and parliamentary committees for their “timely interventions” and support.
The statement also expressed appreciation to organised pension groups, including the Nigeria Union of Pensioners and the Federal Parastatals and Private Sector Pensioners Association of Nigeria, for their cooperation during negotiations and implementation planning.
“We further assure all our DBS Pensioners and Stakeholders that the Directorate will continue to collaborate with the relevant authorities towards release of the outstanding approved funds and subsequent fulfilment of all future obligations relating to the pension increments and the landmark reforms,” the statement added.
The DBS covers pensioners who retired before the introduction of the Contributory Pension Scheme in 2004, including those from defunct public institutions, privatised agencies, and treasury-funded parastatals.
Over the years, many have faced irregular payments, delayed harmonisation, and inadequate healthcare access, challenges that the new reforms are expected to address.
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Nigeria At 65: NOA urges citizens to foster unity, progress
The National Orientation Agency (NOA) has urged Nigeria. citizens to remain united, peaceful to enhance development of the nation as it celebrates 65th independence anniversary.
Mr Mkpoutom Mkpoutom, Director of NOA in Akwa Ibom, gave the charge in Uyo yesterday while addressing newsmen and stakeholders to mark the anniversary.
Mkpoutom said it was essential to recognise that the strength of Nigeria lay in its diversity
“With over 250 ethnic groups and an array of languages, the nation embodies a unique blend of heritage.
“This diversity should be seen not as a dividing line but as a unifying force that propels the country toward progress.
“As Akwa Ibom embarks on another year, it is crucial for all citizens to foster a sense of unity and shared purpose.
“Embrace dialogue, understanding and collaborate with the Renewed Hope Agenda of President Bola Tinubu in its efforts to addressing pressing challenges like poverty, security, education, and healthcare, thereby paving way for a brighter future for all.”
The state director, however, appealed to Nigerians from all walks of life to renew their commitment to a more prosperous, peaceful, and equitable nation.
“Let this anniversary serve as a reminder of the collective strength that lies in every citizen,” he said.
He urged everyone to contribute positively to the development of a better society.
Mkpoutom urged the people and all citizens to honour the labours of heroes past, as they celebrated the present, while working diligently toward a future filled with hope and opportunities for generations to come.
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