Emomotimi Agama, the Securities and Exchange Commission’s director-general, noted that Nigeria stands to gain several advantages by adopting a green economy, such as diversifying the industry, generating employment opportunities, and enhancing public health. During the Oriental News 2024 Summit in Lagos, Agama emphasised the advantages of the transition in their role as the guest speaker. He emphasised the significance of building green city Infrastructure to improve air quality and lower Greenhouse gas emissions. During the summit titled Green Economy, Sustainable Growth and Infrastructure Transformations, He stated the significance of adopting a Green Economy in addressing the country’s various challenges.
It was emphasised that both the government and private industry should implement this strategy. He further stressed the importance of people in the country actively engaging with the issue of climate change, as it has widespread impacts on various facets of society. He mentioned that each nation’s six geopolitical zones encounter distinct climate challenges, necessitating customised approaches and plans to promote a sustainable green industry. He emphasised the importance of establishing strong policies and strategies as the foundation for their initiatives. The nation’s rich variety of landscapes, ranging from deserts to marine ecosystems, makes it a natural leader in embracing sustainable business values, which are rooted in harmony with the environment.
Dr. Agama advocates for a sustainable and green industry in Nigeria.
He expressed concern about the country’s longstanding failure to develop an industry that effectively utilised its natural resources, which resulted in widespread poverty. He stresses the importance of tackling underlying problems by promoting a sustainable business, prioritising decreasing carbon Emissions and protecting biodiversity. He observed how environmental deterioration has a major effect on both Public Health and the fishing industry, forcing the latter to heavily depend on frozen fish as a result of pollution. Dr. Agama described the country’s contradictory situation, including abundant natural resources and widespread suffering. He advocated for the country to seize the chance to transform waste materials into profitable goods.
His stance was that shifting from reliance on oil and gas to the energy industry would improve resilience against fluctuating global oil prices and minimise environmental harm. He emphasised the importance of utilising the nation’s abundant Lithium reserves, an essential element in solar technology, and proposed the development of Solar Energy communities in the northern areas to enhance Electricity production and generate jobs. He emphasised the financial burden of expensive energy for universities such as the University of Benin and Ahmadu Bello University, emphasising savings and employment opportunities through Renewable Energy initiatives. Dr. Agama dreamed of a Nigeria that excels in sustainable technology, prioritises public health, and minimises the use of harmful energy sources.
Renewable energy is essential for sustainable development nationwide.
Furthermore, he pointed out the deaths caused by generator fumes each year and stated the life-saving and quality-of-life benefits renewable energy could offer. In addition, he emphasised the importance of maintaining a sustainable environment by focusing on the major limitations, including water contamination, soil erosion, and Forest destruction. Dr. Agama calls attention to the advantages of transitioning to a sustainable economy, such as creating new jobs, boosting economic variety, and promoting better public health. He emphasised the significance of implementing Eco-friendly infrastructure in cities to improve air quality and decrease emissions of conservatory gases.
During the presentation, he emphasised the impact of renewable energy on revolutionising the country’s transportation industry, specifically focusing on the potential of electric vehicles. He detailed the government’s pledge to reach a 30% renewable energy target in total electricity production by 2060, as the Energy Commission of Nigeria mandated. Encouraging people in the country to embrace solar energy technology, he emphasised that the upfront costs are a small price for the basic long-term advantages. He also focuses on the various financial resources and funding options banks provide to facilitate this shift.
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Lastly, Dr. Agama emphasised the promising possibilities of bioenergy, which involves transforming human waste into usable energy, and the government’s efforts to encourage the expansion of renewable energy technologies. He emphasised the role of sustainable financing in enticing both local and global Investors to fund renewable energy initiatives. He emphasised the importance of collaboration between the public and private sectors to create a sustainable economy, stating the need for joint efforts as the government cannot tackle this alone. His message to the people was to embrace Education and job opportunities in renewable energy and eco-friendly Technology while working together to tackle environmental issues and embrace the benefits of a sustainable economy.