FG commits to operationalise climate fund, green investment strategy
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reaffirmed the federal government’s commitment to operationalizing the Climate Change Fund (CCF).
Edun made this disclosure with the Director-General of the Nigeria Climate Change Council (NCCC), Nkiruka Madueke, on Monday in Abuja to make efforts to align climate finance with Nigeria’s broader economic strategy.
“A critical financial mechanism for driving the country’s green transition and climate resilience agenda.
The discussions was centred on the urgency to unlock underutilised Climate Change Fund to support projects that will enable the implementation of Nigeria’s net-zero emissions target and third generation Nationally Determined Contributions (NDCs).
Madueke added that activating the fund is essential for delivering on the mandates of the Climate Change Act, particularly in financing regulatory, mitigation, and adaptation efforts.
She called on the Ministry of Finance to provide firm backing to the initiative, citing expressions of interest from key financial institutions such as the Nigeria Sovereign Investment Authority (NSIA), Bank of Industry (BOI), and Development Bank of Nigeria (DBN) to manage the fund and drive climate-related investments.
Madueke outlined focus areas of NCCC, which is the development of a climate finance taxonomy, the creation of a carbon market framework, and investments in mangrove conservation, critical to Nigeria’s coastal ecosystem and climate resilience efforts.
The finance minister Edun pledged full support for the NCCC’s vision, describing climate finance as an integral pillar of Nigeria’s long-term economic transformation strategy.
He urged the submission of a detailed project framework and budget to enable fast-tracked collaboration and attract foreign direct investment (FDI) in green infrastructure and climate-smart industries.
Edun said, “Nigeria must position itself as a hub for climate-aligned capital to meet its development goals while contributing meaningfully to global decarbonisation efforts.”
“The renewed push to activate the Climate Change Fund is expected to catalyse growth in ESG (Environmental, Social, Governance)-linked financing and enhance Nigeria’s credibility in global climate negotiations and capital markets,” he stressed.
Analysts say the initiative could unlock billions of dollars in green finance, particularly from multilateral climate funds, international development institutions, and private equity firms focused on clean energy, climate resilience, and carbon credit opportunities in Africa.
As countries across the continent work to balance economic growth with environmental sustainability, Nigeria’s move signals its readiness to lead in climate finance innovation, unlocking opportunities in renewable energy, sustainable agriculture, reforestation, and other low-carbon sectors.
