Nigeria has lost at least $100 billion as a result of climate change since 2020, Agora Policy, a think tank focusing on the country's macroeconomic issues said.

Africa's most populous country faces three threats from climate change: the Sahara desert is encroaching on its northern pastures, rainfall is eroding farmland in its eastern oil-rich Niger Delta, and flooding in its southern Atlantic coast.  

In its report, the think tank also warns that Africa’s biggest economy could lose trillions of dollars in investment by drag its feet towards a green economy.

The Nigerian government should give climate change greater attention as it presents serious dangers to the country's economy, the report titled ‘Climate Change Deserves Greater, More Urgent Attention in Nigeria’ said.

“Nigeria risks becoming a stranded country,” the think tank said in its report released weeks before the United Nations’ COP28 climate conference in Dubai, which starts on 30 November.

“Climate change has the potential to further jeopardise Nigeria’s economic development and alter its geographical, social and political trajectory for decades.” 

The think tank said a policy discussion with the subject "Nigeria, Climate Change, and the Green Economy" will be held in the capital Abuja on November 22, following the publication of the report.

The event will be organised as part of the country’s buildup to COP28.

(Editing by Seban Scaria seban.scaria@lseg.com )