President Bola Tinubu has approved the adoption of a National Carbon Market Framework and the operationalization of Nigeria’s Climate Change Fund as part of efforts to position the country strategically ahead of the 30th United Nations Climate Change Conference (COP30) scheduled to hold next year in Belém, Brazil.
The move is expected to enable Nigeria to access between $2.5 billion and $3 billion annually in carbon finance over the next decade, providing fresh funding streams for climate resilience and sustainable development initiatives.
The approvals followed a presentation by the Director-General of the National Council on Climate Change (NCCC), Mrs. Omotunde Majekodunmi, during the second meeting of the Council held Thursday evening at the Presidential Villa, Abuja.
President Tinubu, represented at the meeting by Vice President Kashim Shettima, said the initiatives are part of measures to strengthen Nigeria’s participation in global carbon markets and advance the country’s leadership role in the international climate ecosystem.
“Nigeria stands ready to take its rightful place as a global leader in climate action, ensuring that our voice and our reality are heard and respected in international negotiations,” the President said.
He emphasized that his administration views climate action not only as an environmental necessity but also as a major economic opportunity to drive investment, innovation, and job creation in key sectors such as energy, agriculture, and industry.
Tinubu reiterated that climate action remains a priority of his government’s development agenda, pledging to continue championing policies that “protect our people, strengthen our economy, and position Nigeria as a destination for green investment and innovation.”
Earlier, NCCC Director-General Majekodunmi noted that the Council’s deliberations would shape how Nigeria is perceived globally and determine its capacity to attract climate financing. She disclosed that Nigeria has now become eligible to access new rounds of funding from multilateral climate finance institutions.
