Question: Please summarize the conclusion is one or two sentences. 4.1. Conclusion This study has examined the potential impacts of climate change on Nigerian economic growth
Please summarize the conclusion is one or two sentences.
4.1. Conclusion This study has examined the potential impacts of climate change on Nigerian economic growth using a time series data (1980-2017). In doing so, an econo- metric model has been constructed based on theoretical and empirical litera- ture on the economics of climate change, then it has employed a growth model adapted from the Solow growth model. Accordingly, the result shows that an increase in forest depletion has a negative impact on economic growth measured by growth rate of gross domestic product. On the other hand, since Nigeria de- pends on rain-fed agriculture which comprises a huge share of GDP a decline in rain fall reduces an economic growth. The reduction in economic growth will also result in increasing poverty. Thus, the control of climate change is not only important for economic growth problem, but also crucial for poverty alleviation The result asserts that if climate change is not controlled, the economic growth will be reduced (an increase in forest depletion dangers a lot) considerably in the long run. However, Nigeria alone can do very little with regard to controlling climate change as its share of greenhouse gas emissions in comparison to devel- oped countries is small. Although developing countries like Nigeria contribute least to causing climate change, they are most affected by this phenomenon. This is due to their dependency on agriculture and their inability to pay for the resources necessary to combat climate change via adopting the preventive meas- ures (mitigation) and adaptation techniques
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