- Nigeria’s energy transition gains momentum as NNPC leads a coordinated national push for stronger MRV systems and carbon-finance reform.
- This also benefits from NNPC’s leadership in aligning agencies, scaling methane-abatement projects, and unlocking climate finance opportunities.
The Nigerian National Petroleum Company Limited (NNPC Ltd) has once again taken the lead in advancing Nigeria’s energy transition. At COP30, the Company made a strong statement by pushing for a coordinated national framework for Monitoring, Reporting and Verification (MRV) systems. Moreover, it called for wide-ranging reforms in carbon finance. As a result, its presence at the summit underscored Nigeria’s commitment to aligning its domestic energy policy with global climate goals.
During a high-level side event titled “Strengthening Monitoring, Reporting and Verification (MRV) Systems and Unlocking Carbon Finance for Nigeria’s Energy Transition,” Chinedu Igwe, Head of Sustainability at NNPC Ltd, reaffirmed the Company’s commitment. He noted that MRV systems must remain central to Nigeria’s carbon-governance structure. Furthermore, he stressed that strong inter-agency coordination is vital for achieving national climate targets.
The session was convened by the Gas Aggregator Company Nigeria Ltd/Gte (GACN). It therefore brought together government bodies, CarbonAi and private-sector partners. Together, they discussed how Nigeria can unlock new climate finance opportunities and improve its emission-tracking systems. Additionally, the forum provided stakeholders with the opportunity to review ongoing energy-sector reforms and evaluate how these reforms contribute to the transition to cleaner fuels.
Igwe emphasised the urgency of collective action. He also called for quicker progress on methane-reduction projects, greater investment in low-carbon infrastructure and better alignment across ministries. Meanwhile, he pointed out that Nigeria holds one of Africa’s largest natural-gas reserves. Consequently, NNPC has placed natural gas at the centre of its transition strategy. It therefore views gas as an adequate “transition fuel” that can support a gradual shift to cleaner energy.
Nigeria’s climate ambition is guided by the National Energy Transition Plan (ETP), which the federal government has approved. The plan sets a target of net-zero emissions by 2060. It also outlines pathways for reducing emissions across power, oil and gas, transport, industry and cooking. However, achieving these goals will require over US$410 billion in new investment between 2021 and 2060. Much of this, according to the plan, is expected from private-sector climate finance.
At COP30, President Bola Tinubu approved a National Carbon Market Framework, marking another significant step. This framework, among other objectives, aims to enhance Nigeria’s role in global carbon markets and ensure that credible MRV processes support all carbon market activities.
Olamide Fagbuji, Senior Special Assistant to the President on Climate Technology and Operations, emphasised the importance of strong collaboration. He further highlighted the importance of harmonising MRV data, improving governance structures and promoting joint implementation across agencies.
The discussions confirmed NNPC Ltd’s central role in bringing stakeholders together. Ultimately, the session closed with a clear message: Nigeria must move beyond isolated efforts and adopt a unified national approach. This approach, led by NNPC Ltd’s leadership, will strengthen MRV systems, reinforce carbon governance, and support Nigeria’s climate commitments following COP30.