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The Bureau of Public Service Reforms has partnered with the Securities and Exchange Commission to harness green economy initiatives.
This partnership was announced during a Lunchtime Seminar organised by BPSR on Thursday in Abuja, where the Director-General of BPSR, Dasuki Arabi, emphasised the significance of green economy initiatives for Nigeria’s economic and environmental sustainability.
Speaking at the event, Arabi highlighted the role of BPSR in reforming public sector policies to align with global best practices.
“The Bureau of Public Service Reform was established in 2004 with a clear mandate to serve as the lead agency and ‘Engine Room’ in driving integrated reform initiatives across the public sector,” he stated.
He further noted that BPSR has been pivotal in coordinating and harmonising reforms, leveraging local and international knowledge networks to support policy and governance reforms.
The seminar’s theme, “Harnessing Green Economy Initiatives for Sustainable Development,” was particularly timely, according to Arabi, as Nigeria seeks to transition towards a low-carbon economy.
He stressed the importance of integrating sustainable practices into economic activities, saying, “A green economy promotes the use of renewable energy sources, such as solar and wind, transitioning from fossil fuels and hydroelectric power which can help in reducing the nation’s carbon footprint.”
Arabi noted that the SEC has played a crucial role in promoting sustainable finance and investment practices that align with green economy principles.
“The Commission has been instrumental in promoting the growth of green bonds and other sustainable financial instruments which are essential for financing the transition to a low-carbon economy and also support environmental sustainability, renewable energy as well as climate resilience,” Arabi acknowledged.
The BPSR-SEC partnership aims to create a conducive environment for green financing, which would facilitate investments in sectors such as renewable energy, sustainable agriculture, and eco-tourism.
Arabi pointed out that this collaboration is crucial for fostering economic diversification, reducing Nigeria’s dependency on oil, and promoting job creation in environmentally sustainable industries.
“Green economy encourages the development of alternative industries, such as renewable energy, sustainable agriculture, eco-tourism, creating employment opportunities in sectors that contribute to environmental sustainability,” he added.
On the social development front, Arabi highlighted the benefits of the green economy for public health and poverty reduction.
“A green economy reduces pollution and improves air and water quality, which can have a significant positive impact on public health,” he noted, while also stressing that sustainable agriculture and renewable energy projects can provide income-generating opportunities for rural communities.
The Director-General also expressed optimism that Nigeria’s adoption of green economy principles would enhance its resilience to economic shocks and bolster its international standing.
“By adopting green economy principles, Nigeria can position itself as a leader in Africa and globally in the fight against climate change,” Arabi asserted.
He also emphasised that the partnership between BPSR and SEC would help Nigeria meet its international commitments, such as those under the Paris Agreement on climate change.
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