Orteva Partners FG and Delta State on $100 Million Carbon Project to Drive Nigeria’s Green Growth
Nigeria has taken another bold step toward a sustainable future as the Federal Government, in partnership with Orteva, Delta State, and Eighth Versa, launched a $100 million carbon project designed to accelerate the country’s transition to a low-carbon economy. Announced on Tuesday in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the Orteva Carbon Project marks a major milestone in Nigeria’s green growth and climate finance ambitions.
According to the Federal Ministry of Finance, the project seeks to unlock climate finance, generate high-quality carbon credits, and strengthen Nigeria’s position in the global carbon market. It forms part of the government’s broader Energy Transition Plan, aimed at diversifying revenue sources beyond oil and creating new economic opportunities through sustainable innovation. Minister Edun described the partnership as “a timely intervention fully aligned with President Bola Ahmed Tinubu’s vision for green growth and economic transformation.”
The Orteva project is expected to have a far-reaching economic impact, with components such as mangrove conservation and biochar production projected to generate between $350 million and $2.8 billion in carbon credit revenue. This initiative could establish Nigeria as one of Africa’s leading hubs for credible carbon trading, providing new opportunities for foreign exchange inflow, private sector investment, and job creation across multiple sectors.
Reaffirming the government’s commitment, Edun emphasized that Nigeria is working to build a transparent, well-governed carbon market framework supported by strong pricing mechanisms and policy infrastructure. He added that the Federal Government will continue to provide policy, fiscal, and credit-enhancement structures to attract both local and international financing. “For the private sector, this represents an opportunity to invest in projects that protect the environment while delivering long-term economic returns,” he said.
The Orteva Carbon Project builds on President Tinubu’s Carbon Market Activation Policy, announced earlier this year, which aims to unlock up to $2.5 billion in carbon credit investments by 2030. Supported by Nigeria’s updated Nationally Determined Contributions (NDCs), the initiative demonstrates the country’s commitment to balancing sustainability with profitability—setting the stage for a new economic frontier where green innovation drives inclusive growth and resilience in the face of global climate challenges.
source: Nairmetrics