Nigeria’s Carbon Market Policy Set to Unlock $2.5 Billion by 2030, Drive Green Investment Surge
President Bola Ahmed Tinubu has unveiled Nigeria’s newly finalised Carbon Market Activation Policy, projected to attract up to $2.5 billion in carbon credit investments by 2030. Announced during a high-level UN virtual dialogue on climate and just transition, the policy positions Nigeria as a leader in climate-smart finance in Africa. It complements ongoing energy reforms and aligns with Nigeria’s Nationally Determined Contributions (NDCs) under the UNFCCC, with a comprehensive NDC update expected by September 2025.
Speaking from Abuja, Tinubu emphasized that Nigeria sees climate action as an economic opportunity rather than a constraint. He pointed to the Energy Transition Plan (ETP) as a roadmap to net-zero emissions by 2060. The plan targets major sectors like power, transportation, and industry, and requires $410 billion in investments. Nigeria aims to drive reforms by streamlining regulation, offering fiscal incentives, and creating enabling institutions that promote decarbonisation while expanding energy access.
The policy announcement was made during a global dialogue co-hosted by UN Secretary-General António Guterres and Brazilian President Lula da Silva, ahead of COP30. Nigeria joined 17 other countries and major economic blocs to reinforce global momentum on climate action. Tinubu also highlighted Nigeria’s involvement in the Mission 300 initiative with the World Bank and African Development Bank, aiming to electrify 300 million Africans by 2030, showing Nigeria’s commitment to regional climate leadership.
To complement policy efforts, Tinubu revealed plans to establish a Global Climate Change Investment Fund that will blend public and private capital to finance green infrastructure and scalable clean energy solutions. The fund will prioritize sectors like e-mobility, renewable mini-grids, and regenerative agriculture, in line with Nigeria’s National Energy Compact. Tinubu acknowledged international partners, notably SEforALL and the UN, for their advisory roles in crafting the country’s climate and energy transition strategies.
Source: Nairametrics