Multinational Taxation
Climate Adaptation Funding
Flood Impact in Africa
BY SHEKWOPEYELO
Benjamin Kalu, the Deputy Speaker of the House of Representatives, has called for multinational companies to contribute to a tax aimed at supporting victims of climate change in Africa. During a statement on September 19, Kalu highlighted the severe flooding in Borno and Zamfara states, underscoring the urgent need for financial support to tackle climate-related disasters.
Kalu emphasized that the ongoing climate crisis threatens Africa’s advancement toward sustainable development goals (SDGs) and stifles economic growth. He referenced Nobel Prize-winning economist Esther Duflo’s proposal for a global tax on multinationals and billionaires, designed to fund climate adaptation efforts in low-income countries.
He stated, “The proposed climate tax would mitigate climate change effects and bolster resilience in vulnerable regions.” Kalu also stressed the importance of investing in agriculture to combat food insecurity exacerbated by climate impacts.
“Africa contributes just 3.8% to global greenhouse gas emissions, yet it faces severe repercussions,” he noted. “In Borno state, 320,791 individuals have been affected by recent floods, with significant numbers displaced or returning home.”
