Nigeria is positioning itself at the Centre of the global climate finance conversation, with President Bola Tinubu unveiling an ambitious plan to unlock up to $3 billion annually from the carbon market over the next decade.
Speaking before world leaders at the 2026 Abu Dhabi Sustainability Week, Tinubu framed the initiative not as an environmental obligation alone, but as a strategic development opportunity capable of reshaping Africa’s largest economy.
At the heart of this push is a newly activated carbon market framework designed to attract between $2.5 billion and $3 billion each year through verified emissions reduction projects.
According to the President, Nigeria has taken “vigorous regulatory steps” to strengthen climate governance, including the adoption of the National Carbon Market Activation Policy and the launch of a National Carbon Registry.
These measures are aimed at improving emissions reporting, verification, and investor confidence in Nigeria’s climate market ecosystem.
Tinubu stressed that climate action and economic growth are no longer competing goals. “Nigeria feels at the heart of development opportunity,” he said, announcing a broader climate and green industrialisation investment drive targeting between $20 billion and $30 billion annually in climate finance.
The strategy aligns climate mitigation with job creation, industrial expansion, and inclusive development, particularly in underserved communities.
The President pointed to the 2023 Electricity Act as a game-changer, enabling decentralised and inclusive energy access for rural communities, off-grid health facilities, schools, markets, and other critical infrastructure.
By modernising Nigeria’s energy architecture, the government aims to deploy sustainable power solutions that close long-standing access gaps while reducing reliance on fossil fuels.
Beyond policy, Tinubu outlined a series of financing instruments already in motion.
These include a climate investment platform targeting $500 million for climate-resilient infrastructure, a national climate platform designed to mobilise $2 billion in capital investment, and a $50 billion sub-regional green bond that was oversubscribed by an impressive 97.7 per cent. The figures, he said, signal growing investor appetite for Nigeria’s green transition.
