Green Economy and Its Implications for Economic Growth in Nigeria

Abstract

This paper examines the Green economy framework and its implications for sustainable growth and development of the Nigerian economy. Employing the political economy approach this study explores relevant concepts, identifying the core meaning of the concept of sustainable development. Few sectors were analyzed in terms of green growth policies to see what economic benefits Nigeria stands to gain transiting into the green economy. The study revealed that the green economy holds lots of opportunities especially for those sectors studied. Recommendations to enable Nigeria transit into green economy includes that institutional capacity is needed to integrate environmental policies with economic policies among others.

Key words: Green economy, Green growth, sustainable development, environment, ecosystem, institutional capacity, gross domestic product, deforestation and over grazing.