Speaker Abbas Warns of Economic Catastrophe by 2050; Urges Immediate Leap to ‘Green Economy’ to Save Nigeria’s GDP

Nigeria is standing at a financial crossroads where the cost of doing nothing about the environment could bankrupt the future. On Thursday, March 5, 2026, the Speaker of the House of Representatives, Tajudeen Abbas, issued a chilling economic forecast: if Nigeria fails to act on climate change now, the nation faces a staggering $460 billion loss roughly 30% of its projected GDP by the year 2050.

Speaking through his representative, Muktar Shagaya, at a high-level Decarbonization Roundtable in Abuja, the Speaker stripped away the idea that climate change is a “future problem.” He pointed to the “State of Harmony” being disrupted across all six geopolitical zones, from the disappearing forests in the North to the submerged communities in the East and South. “Climate change is no longer a theoretical threat; it is a lived experience for every Nigerian,” Abbas declared. “The droughts, the floods, and the heatwaves are already eating into our national productivity.”

The Speaker’s warning is backed by a new push for a “Mandatory National Decarbonization” framework. The House of Representatives is now moving to force a shift in how Nigeria does business, including the establishment of a National Carbon Registry. This system would require big corporations to report their carbon footprints and create a marketplace for carbon credits, turning pollution reduction into a profitable venture for Nigerian innovators.

“We are not just talking about saving the planet; we are talking about saving our wallets,” the Speaker noted. He emphasized that while the $460 billion threat is real, the global transition to low-carbon energy offers Nigeria a chance to reinvent itself as Africa’s green energy hub. By leveraging the 2021 Climate Change Act and the 2023 Electricity Act, the 10th Assembly intends to provide the “legal teeth” needed to ensure that Nigeria’s 2050 story is one of prosperity rather than environmental and economic collapse.