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Tracking Public Financing of Adaptation Projects for Developing Economies Using a Climate Budget Tagging Framework for Nigeria
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Author(s): Chukwuemeka Onyebuchi Onyimadu (National Institute of Legislative and Democratic Studies, Nigeria)and Daniel Uche Sunday (Michael Okpara University of Agriculture, Umudike, Nigeria)
Copyright: 2023
Pages: 32
Source title:
Energy Transition in the African Economy Post 2050
Source Author(s)/Editor(s): Olayinka Ohunakin (Covenant University, Nigeria)
DOI: 10.4018/978-1-7998-8638-9.ch007
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Abstract
There is ample evidence in the literature that developing countries would suffer the most from the adverse effects of climate change. Although, respective developing economies have dedicated action plans to mitigate or adapt to these adverse effects, financing for these strategies may be lacking or national governments may not commit financial resources to actualizing these strategies. Using a budget analysis and climate budget tagging framework, the chapter evaluates the financial resources the Nigerian government has committed to its adaptation strategies as stipulated in the 2011 National Adaptation Strategy and Plan of Action on Climate Change (NASPA – CCN). The study found out amongst others that government expenditure on climate change tends to be more of mitigation than adaptation. In addition, adaptation programs targeted at the industry, commerce, telecommunications, and transport sector are most neglected among other sectors highlighted as priority sectors in the NASPA – CCN policy.
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