Nigerian Senator Proposes Climate Debt Swap At World Bank/IMF Meeting
Senator Jimoh Ibrahim

Nigerian Senator Proposes Climate Debt Swap At World Bank/IMF Meeting

6 months ago
1 min read

Senator Jimoh Ibrahim of Ondo South Senatorial District has called for a unique approach to Africa’s debt crisis. He recommended that Africa’s debts, including those of Nigeria, be swapped for the damages caused by climate change from major economies like the United States, China, Russia, Germany, and others.

Speaking with journalists on the sidelines of the World Bank/IMF Annual Meetings in Marrakech, Ibrahim emphasized that, “Africa is burdened by debt, using $50 billion annually for debt servicing without making meaningful progress.”

READ ALSO: Africa Climate Summit 2023: Driving Green Growth and Climate Finance Solutions for Africa and the World

He expressed concern for the impact of climate change on the continent, particularly the pollution of carbon dioxide originating from developed nations.

The lawmaker argued that “Carbon dioxide pollution, a result of extensive car usage in the United States and the burning of fossils, significantly affects Africans and their well-being. The consequences of this pollution should be shouldered by the polluters who must pay for the damages occurring in Africa, as disasters know no boundaries. The burning of fossils and carbon dioxide pollution in Africa requires accountability and compensation.”

Ibrahim pointed out that the damage inflicted on Africa could be used as leverage in negotiations for debt relief.

He further noted that “While Africa does not produce these cars, the entire world relies on automobiles primarily manufactured in Germany, America, Russia, China, and India. The massive number of cars globally contributes to the emission of fossil fuels and the subsequent carbon dioxide manipulation, which affects the air we breathe.”

He maintained that, “It’s evident that Africans abroad often enjoy better health and well-being compared to those in Africa, which indicates the negative effects of carbon dioxide pollution on our continent. We must hold those responsible for pollution accountable, and every global climate agreement should include provisions for liability. Those who pollute must pay.”

Senator Jimoh Ibrahim’s proposal raises questions about the broader debate on climate justice and international debt relief, shifting the focus towards holding polluting nations responsible for their environmental impact on Africa.


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