Threats to ecosystem: Blending effective policies to cushion projected economic losses
Poor attention to preservation of human habitat in Nigeria embodies clusters of reservations. The conundrum houses challenges and losses which embody both conspicuous and oblique consequences for the Country. It is apparent from the part of the Government, that the prevalent apathetic disposition to the opportunities and threats of nature configuration have borne varying outcomes for the Country. It is apparent that the imprudent management of the ecosystem in the territorial space of the Country has continued to occasion losses which would have otherwise been to the socio-economic advantages of the Country.
It is important to note that while the need to pursue economic development is non negotiable, it is paramount that efforts towards such drive must be navigated in patterns with deep consideration that do not pose threats to nature. Hence, the need to coordinate the gravitation of economic activities in patterns that comply prospectively with reconciling appeal to the preservation of the ecosystem remains pertinent. Recently, scientific studies have come to establish the threats that hazardous output from industrial operations pose to the ecosystem. Such studies as the depletion of the ozone layer, global warming, rising sea level, among other related threats which scientific studies have come to emphasise as consequences of hostile output of industrial adventures, are reoccurring subjects with resounding echoes as threats encoded in the pursuit of industrialisation at the detriment of human habitat.
It has been noted that irreconcilable insensitivity to the preservation of nature holds threats with consequences which manifestations may portend varying degrees of impacts that may transcend socio-economic fortune. Recently, a new World Bank report estimates that the collapse of ecosystem services provided by nature which includes wild pollination, food from marine fisheries and timber from forests, could result in Nigeria’s GDP contracting by $139billion in 2030.
The report titled ‘The economic case for nature’ underscored the strong reliance of economies on nature, particularly in low income countries. According to the report, Sub-Saharan Africa and South Asia would suffer the most relative contraction of real GDP due to a collapse of ecosystem services by 2030, 9.7 per cent annually and 6.5 per cent respectively. Nigeria which is regarded as a lower-middle income economy by the World Bank is expected to be among the worst-hit countries. The report also disclosed that Nigeria’s fisheries output is projected to contract by 21 per cent or $4.6bn for the same time period.
The report had read partly: “In absolute terms, the greatest losses of GDP are expected in middle-income countries. The worst affected country is China, which sees its GDP drop by $943bn in 2030, followed by India (-$193bn), Brazil (-$150bn), Indonesia (-$144bn) and Nigeria (-$139bn). The projected loss in GDP signifies a permanent reduction of the productive potential of the economy, with potentially long-lasting effects on incomes and employment.”
The necessity for the Nigerian Government as ‘policy driver’ to channel efforts towards robust strategic policy actions to prepare the Country ahead of the projected shortfalls is paramount. The disposition of ignoring threat signals have been an insensitive culture characterising the configuration of governance in Nigeria. The lacuna have been a deficiency which had dealt huge blow on the Country at critical times. The impacts of such lacuna have cut so deep with socio-economic consequences many of which the Country is currently grappling with. The need to begin to channel efforts towards the direction of creating virile architectures to responsively attend to threat projections, when they begin to manifest their challenges, is paramount. Not taking proactive actions may bring the Country to critical conditions with unsavoury consequences as currently being witnessed – owing to insensitive posture of past governments to threat signals. Paying attention to nature-smart policies and economic reforms particularly those revolving around incentives and subsidy provisions to boost investments in agriculture is significant. More importantly, the need to strengthen efforts towards boosting research driven innovations to reconcile enhancement of biodiversity and economic outcomes is paramount.
It is imperative for the Government to craft strategic policies blended within an architecture of configurational patterns which stretches a balance of advantages at both ends of biodiversity and the economy. Investment in research for strategic blend of policies to foster development is paramount. Threats of adverse reactions of nature have been posing the possibilities of future challenges. It is rational that the custodians of power architecture in the Country awake to the responsibility of driving prospective orientation towards appreciable disposition to the preservation of the ecosystem within the Country’s territorial space.
