Sunday, November 27, 2022

Nigeria: Climatic Events Affecting GDP, Inflation, Interest Rates – NiMet

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The Gross Domestic Product (GDP), inflation, and interest rates of economies are being impacted by hydro-meteorological events, said chairperson of African Centre of Meteorological Applications for Development (ACMAD) Board of Governors, Prof. Mansur Bako Matazu.

He stated this at the Climate Policy Dialogue and inauguration of the Continental Multi-Hazard Advisory Centre in Niger Republic.

Prof. Matazu who is also the Director-General of the Nigerian Meteorological Agency (NiMet), said weather events have exacerbated risks of diseases, epidemics, and pandemics.

He also said ACMAD is revving up actions on African early warning systems and multi-hazard advisory on weather/climate related disasters.

He said, “The centre will provide a few days, weeks, and months lead-time (i.e., ahead) advisories and watches on heavy rains and floods, high temperatures and heat waves, droughts, cyclones, and significant storms to the AUC Situation Room to guide disaster risk coordination and management actions.”

He said he looked forward to this centre for advisories and support for warnings at national level as well as well-informed early action and implementation to reduce impacts of disasters.

Now more than ever, GDP, inflation, interest rates, diseases, epidemics, and pandemics are exacerbated or even driven by hydro-meteorological events.

Prof. Matazu said to promote and support early actions against vagaries of weather and changing climate, providing hydro-meteorological predictions and advisories with sufficient lead times ahead of these events is of strategic importance to mitigating the arising threats, building climate resilience and ensuring sustainable development.

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