As part of the 2025 Environment Day observance, the National Bureau of Statistics (NBS) has called on the World Bank for support in capacity building, data collection, and addressing challenges in Nigeria’s Natural Capital Accounting (NCA) efforts.
Dr. Baba Madu, Head of the National Accounts Energy and Environment Department at the NBS, made the appeal on Thursday at the 2025 Natural Capital Accounting Conference in Abuja. The event was organized with the support of the World Bank, in collaboration with the NBS and the Federal Ministry of Environment.
Madu emphasized the need to integrate natural resources into economic measurements to boost the country’s economic development. “NCA is crucial for reflecting the impact of environmental factors on productivity, which directly influences GDP,” he said. However, he noted significant data gaps in contributions from relevant ministries and agencies.
Vina Vutukuru, Programme Leader on Sustainable Development at the World Bank, stressed the importance of establishing natural capital accounting within Nigeria’s national accounting framework to measure ecosystem services essential for prosperity. He praised Nigeria’s “bold ambitions” on climate change but highlighted the need for a robust NCA system to realize those goals.
Representing the Director General of the National Council on Climate Change Secretariat, Chioma Azie noted that natural resources are key to achieving Nigeria’s climate objectives. She stressed that integrating natural capital accounting data into the country’s Nationally Determined Contributions (NDCs) would provide a foundation for developing effective mitigation and adaptation strategies.
The event underscored the urgent need for data and capacity-building support to ensure that natural resources and ecosystem services are fully recognized and valued within Nigeria’s economic planning.
