The House of Representatives Committee on Climate Change on Tuesday said N8.1 billion earmarked to fight effects of climate change in the country in 2017 was inadequate.
Chairman of the committee, Rep. Sam Onuigbo (PDP-Abia), said this when the Ministry of Environment appeared before the members to defend its 2017 Budget in Abuja.
He said that the committee had the responsibility to meet Nationally Determined Contributions (NDCs) and demonstrate to the world that the country was concerned about climate change issues.
Onuigbo said that Nigeria could afford to be outpaced in the crucial assignment to expand investment opportunities, avert security challenges and save humanity.
He said that there were many devastating effects of climate change as there are immense investments to attain sustainable development.
He disclosed that a joint climate change committee of the Senate and the House was working on a Bill for Nigeria to create appropriate regulatory framework to facilitate investment and mainstream climate change.
The lawmaker stressed the need for strengthened synergy between the legislature and the executive in mitigating the effects of climate change.
“We have to work to achieve sustainable development in all facets of our economy,” he added.
In defence of the budget, the Permanent Secretary, Ministry of Environment, Dr Bukkar Hassan, said that plans were underway to issue 20 billion dollars bond to raise funds to combat the effects of climate change in the country.
He said that the bond tagged “Green Bond” would be issued at the end of March.
Hassan said that the bond was a means of generating resources for climate change activities and to ensure sustainable development.
He said that the ministry’s plan to execute 31 projects in six geo-political zones was intended to ensure that the country developed in harmony with her environment.
He said that some areas of focus were ensuring effective environmental governance and pollution control as well as proper waste management.
“Others are to mitigate the effect of climate change and reclamation and rehabilitation of degraded land in the country,” Hassan said. (NAN)