- Nigeria will leverage international climate funds for green infrastructure and job creation.
- Government strengthens green budgeting and renewable energy investment.
Nigeria is utilising climate funds to boost infrastructure, expand renewable energy, and create sustainable jobs. At the 31st Nigerian Economic Summit, Finance Minister Wale Edun confirmed that the government is working with the World Bank, IMF, AfDB, and G20 to unlock new Nigerian climate funds.
He said Nigeria would take a firm stance at the upcoming COP30 summit in Brazil to demand fair access to global finance. The Ministry of Finance created a Green Growth Office and Facility to support this plan. This initiative backs job-driven, sustainable projects and strengthens Nigeria’s climate finance capacity.
Moreover, the government is helping ministries and agencies prepare solid investment proposals to access funding opportunities. Edun explained that the global community requires about $5 trillion yearly until 2030 to achieve the Sustainable Development Goals. Yet, developing nations receive less support, making access to Nigeria’s climate funds more urgent.
“Climate change is no longer distant; it is here,” Edun said. “Floods in Lagos, drought in Sokoto, and rising waters in Makurdi disrupt daily life.” However, he noted that these challenges offer a chance to rebuild smarter, invest in resilient systems, and protect livelihoods.
Nigeria is now integrating climate goals into its national budget through green budgeting. In addition, the government has improved its systems for tracking and reporting the impact of climate finance. Nigeria also leads Africa in issuing green bonds to fund renewable projects while expanding credit guarantees to draw private investors.
Through these measures, Nigeria aims to strengthen economic growth, reduce emissions, and build a resilient green economy powered by Nigeria’s climate funds.