Economic and Social Impacts of Climate Change: Nigeria

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Economic and Social Impacts of Climate Change
Nigeria

• Presented by Nigerians Beau Weaver and Laura
  Dombrady

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Economic Dependencies

• Our country is highly dependent on the extraction
  of oil and the oil industry.
• Accounts for 80 of our governments revenues.
• 93 of export revenues
• Over 90 foreign exchange earnings

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Oil

• As a poorer developing country, our economy
  relies a great deal on exporting oil to world
  powers such as the US, China, Japan, Russia, etc.
  
• However, we are in the process of lowering our
  dependence on crude oil and searching for other
  means of an economic stability.

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• http//www.nigerianmuse.com/essays/OkigboOputaPane
  ls_files/image004.jpg

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Natural Gas

• We have currently discovered the 9th largest
  natural gas reserve in the world of 124 trillion
  cubic feet in our country.
• Recently, multi-national oil corporations have
  been flaring 75 of the gas emitted from oil
  recovery processes and re-injecting 12..

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Natural Gas Continued

• But we hope that the development of the natural
  gas sector will further expand our governments
  revenue base.

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Economic Hardships

• Unfortunately, as the world becomes more
  sustainable, our economy will shutter.
• We stand to suffer enormous income losses with
  the global green movement.
• Given that we have exclusive reliance on fossil
  fuels for foreign exchange, the impact of global
  shift away from fossil fuels is bound to destroy
  our economy.

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Dangers of Sea Level Rise

• About 25 million people(20 population) live
  along the coast, two thousand industrial
  establishments, and most of the oil extracting
  facilities are concentrated in the low lands.
• Between 1\2 a meter and 1 meter above sea level.

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Sea Level Continued

• If sea level continues to rise, these areas are
  in great danger.
• This is unfortunate because we are not
  contributing much to the global problem but we
  will feel the consequences more than other
  Industrialized nations who have caused the
  problem and have economic support to fall back
  on.

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• News.bbc.co.uk\\country_profiles\nigeria

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The Costs of Coastal Areas

• Protecting our moderately developed areas near
  the coast if there was to be a 1 meter rise in
  sea level would amount to 1.4-1.8 billion
  dollars.
• Also a massive migration of as many as 3.2
  million people to higher elevations. This will
  be devastating as 60 of our population is under
  the poverty line.
• 18 billion dollars of industrial infrastructure
  would be lost.

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Sources

• www.AfricaEconomicAnalysis.org
• www.climate.org\pub\nigeria
• https//www.cia.gov/library/publications/the-world
  -factbook/geos/ni.htmlEcon