From: Femi Oyelola, Kaduna
The Africa Network for Environment and Economic Justice (ANEEJ) has said Nigeria is currently reeling from a chronic debt burden, which poses a formidable challenge to its nation’s progress.
The Executive Director of ANEEJ, Rev. David Ugolor asserted this during a stakeholder engagement event on advancing debt relief for climate action: ‘Post African Climate Summit reflection and the way forward’.
Rev. Ugolor lamented that the recent debt figures are worrisome, saying figures obtained from the Debt Management Office (DMO), Nigeria’s public debt stood at N87.3 trillion as of June 30, 2023
He stressed that implications for the country’s ability to meet Sustainable Development Goals (SDGs) and climate commitments under the Paris Agreement are of deep concern.
“With the debt servicing costs reaching unprecedented levels, it is imperative that we address this issue urgently under the lens and voice of climate justice and push for debt relief for green climate solutions.”
Rev Ugolor, therefore, called on stakeholders and other participants to join the esteemed lead presenters and discussants in the two dedicated sessions that will take a deeper dive into the nexus of debt and climate on the continent
The ANEEJ Executive Director explained that the Stakeholder Engagement meeting with the theme: “Advancing Debt Relief for Climate Action: Post African Climate Summit Reflections and the Way Forward” is aimed at providing a platform for stakeholders, including political decision-makers, climate negotiators, legislators, and CSOs, to reflect on the outcomes of the Africa Climate Summit held in Nairobi from 4th to 6th September.
