President Bola Tinubu has approved the adoption of a National Carbon Market Framework (NCMF), operationalization of the Climate Change Fund, and restoration of the National Council on Climate Change (NCCC) to Nigeria’s annual budget line.
The move aims to position Nigeria as a leading participant in the global carbon market and unlock between $2.5 billion and $3 billion annually in carbon finance over the next decade.
This was disclosed by the Senior Special Assistant to the President on Media and Communications (Office of the Vice President), Stanley Nkwocha, following the second NCCC Council meeting held Thursday at the Presidential Villa, Abuja.
Tinubu, represented by Vice President Kashim Shettima, said the framework would help Nigeria leverage global climate opportunities ahead of the 2025 United Nations Climate Change Conference (COP 30) in Belem, Brazil.
He emphasized that addressing climate change was not just an environmental necessity but also an opportunity for innovation, investment, and job creation across Nigeria’s energy, agriculture, and industrial sectors.
“Nigeria stands ready to take its rightful place as a global leader in climate action,” Tinubu said. “We are committed to policies that protect our people and attract green investment.”
The Director-General of the NCCC, Mrs. Omotenioye Majekodunmi, noted that Nigeria’s readiness would determine how effectively it can mobilize climate finance and shape its global reputation.
Finance Minister Wale Edun also expressed support, announcing plans for a quarterly Climate Finance Tracking Dashboard to ensure transparency and effective fund management.
