- Nigeria targets $2.5bn by 2030 through its new Carbon Market Activation Policy, launched by President Tinubu.
- Energy Transition Plan needs $410bn to decarbonise five key sectors and reach net-zero by 2060.
- The new Climate Investment Fund will boost green infrastructure, clean energy, and e-mobility projects.
President Bola Ahmed Tinubu has launched Nigeria’s Carbon Market Activation Policy, targeting $2.5 billion in carbon credit revenue and investments by 2030.
He announced the policy on Wednesday during a virtual climate dialogue co-hosted by UN Secretary-General António Guterres and Brazilian President Luiz Inácio Lula da Silva. The meeting served as a prelude to COP30, which Brazil will host.
Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, confirmed the announcement in an official statement. The president aims to position Nigeria as a regional leader in climate-smart finance.
Nigeria plans to revise its Nationally Determined Contribution (NDC) by September 2025 under the UN climate framework.
The dialogue brought together leaders from 17 countries, including climate-vulnerable nations and major economic blocs. China, the EU, the African Union, ASEAN, and the Alliance of Small Island States participated in the discussions. They focused on driving stronger political will before COP30.
Delivering remarks from Abuja, Tinubu said Nigeria treats climate action as a catalyst for growth, not an obstacle.
“We see climate action not as a cost, but as a strategic need,” he said.
He highlighted Nigeria’s Energy Transition Plan (ETP), which provides a roadmap to reach net-zero emissions by 2060. The plan covers five sectors: power, cooking, transport, oil and gas, and industry.
Tinubu said Nigeria needs $410 billion to implement the ETP by 2060. He explained that the government has aligned regulatory frameworks, created fiscal incentives, and restructured key institutions to support the plan.
He noted that the ETP will expand energy access, reduce emissions, and boost the economy.
He also reaffirmed Nigeria’s role in the Mission 300 initiative. The programme, backed by the World Bank and African Development Bank, seeks to provide electricity to 300 million Africans by 2030.
Tinubu announced a new Global Climate Change Investment Fund to support green infrastructure. The government will blend public and private capital to reduce investment risks and finance large-scale clean energy projects.
The fund will support key sectors such as:
- Green industrial zones
- E-mobility networks
- Renewable energy mini-grids for underserved communities
- Regenerative agriculture
He said the fund aligns with Nigeria’s National Energy Compact, which outlines targets for clean energy growth and broader adoption of clean cooking technologies.
Tinubu thanked global partners for their support, especially the UN and Sustainable Energy for All (SEforALL). Both organisations provided essential technical and advisory support.
He emphasised Nigeria’s resolve to transition to a green economy.
The high-level meeting encouraged stronger international cooperation on climate justice and sustainable development.
Tinubu’s policy direction reinforces Nigeria’s commitment to using climate action to drive investment, innovation, and inclusive growth.