World Bank Approves $700m Credit to Tackle Climate Change in Nigeria

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The World Bank has approved $700 million from its International Development Association (IDA) for the Nigeria Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) Project.

According to the bank, due to the low productivity of cash crops in Nigeria, the fund would be used to deal with climate issues including water shortages in the North leading to desertification and habitat loss.

In its statement, the Bretton Woods institution stated that the scheme is expected to boost Nigeria’s implementation of sustainable landscape management practices in northern Nigeria and strengthen the country’s long-term enabling environment for integrated climate-resilient landscape management.

The statement said, “Resource shortages, violent conflict, outdated agricultural systems not adapted to changing dryland conditions, lack of access to finance, weak value chain linkages, an uncompetitive environment for agribusiness, and poor market access are other key barriers to increased agricultural productivity in Nigeria.

“Better environmental and water resources management and resilience against disaster and climate risks (largely water-related) are needed to sustain economic growth and protect the most vulnerable.”

The bank said efforts to stop and reverse desertification were complicated by the need to feed a rapidly increasing population in a region where natural resources were dwindling and over 90 per cent of national food production depends on smallholder farmers.

World Bank Country Director for Nigeria, Shubham Chaudhuri, said, “This scenario not only threatens food security, livelihoods and productivity but also exacerbates fragility and increases the risk of violence.

“With communities and households that are most dependent on natural resources for their survival and vulnerable to desertification, this intervention will improve multi-sectoral watershed planning and investments to help about 3.4 million direct beneficiaries adapt to evolving dryland conditions” he added.

About Joseph Adeoye 89 Articles
Joseph Adeoye is a budding writer with a penchant for satire and humour. He's currently a news correspondent/reporter at 9News Nigeria. Contact him via Twitter @D_KlassiqueOne or you can send him an email at joseph.adeoye.101@gmail.com.

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