USING ECONOMIC INSTRUMENTS FOR ENVIRONMENTAL PROTECTION IN NIGERIA: LEGAL FRAMEWORK

Abstract

This paper examines the use of economic instruments to solve environmental issues in Nigeria and the extant legal framework. Explicitly in what ways economic instruments exempli gratia, tradeable emission permits, pollution charges, road tolls, administrative charges, effluent and emission taxes, export and import taxes, access fees, non-liability charges, environmental performance bonds, waste delivery and sanitation charges, subsidies and natural resource taxes can be utilised to protect the human environment. This paper bears down on the advantage of using economic instruments to safeguard the environment. The paper likewise argues a couple of issues and difficulties correlated with the management of economic instruments as in lack of determination by political actors to commit funds and political capital to attain desired objectives. This paper wraps up by highlighting the importance of centring attention on using economic instruments as a mechanism to solve environmental issues in Nigeria.