– Nigeria’s Climate Change Fund and green investment strategies
– Operationalizing climate finance mechanisms in Nigeria
– Government initiatives for sustainable development and climate resilience
The Nigerian government is taking significant steps to operationalize the Climate Change Fund (CCF), a pivotal financial mechanism aimed at driving the nation’s green transition and enhancing climate resilience. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, reaffirmed this commitment during a meeting with Nkiruka Maduekwe, Director-General of the Nigeria Climate Change Council (NCCC), in Abuja.
The discussions emphasized the urgency of activating the CCF to support projects aligned with Nigeria’s net-zero emissions target and its third-generation Nationally Determined Contributions (NDCs). Maduekwe highlighted that the fund is essential for financing regulatory, mitigation, and adaptation efforts as mandated by the Climate Change Act. She also noted interest from financial institutions like the Nigeria Sovereign Investment Authority (NSIA), Bank of Industry (BOI), and Development Bank of Nigeria (DBN) to manage the fund and drive climate-related investments.
In addition to the CCF, the NCCC is focusing on developing a climate finance taxonomy, creating a carbon market framework, and investing in mangrove conservation to bolster Nigeria’s coastal ecosystem and climate resilience. Minister Edun pledged full support for these initiatives, describing climate finance as integral to Nigeria’s long-term economic transformation strategy. He encouraged the submission of a detailed project framework and budget to facilitate collaboration and attract foreign direct investment in green infrastructure and climate-smart industries.
This renewed focus on climate finance is expected to unlock substantial green funding from multilateral climate funds, international development institutions, and private equity firms specializing in clean energy and carbon credit opportunities in Africa. Analysts suggest that these efforts will enhance Nigeria’s credibility in global climate negotiations and capital markets, positioning the country as a hub for climate-aligned capital.
