Nigeria to Generate $3 Billion Annually from Carbon Market, Says President Tinubu
President Bola Tinubu has announced that Nigeria is set to mobilize between $2.5 billion and $3 billion annually through a newly activated carbon market, as the country ramps up its climate finance efforts. Speaking at the 2026 Abu Dhabi Sustainability Week, Tinubu highlighted the government’s “vigorous regulatory steps” to strengthen climate governance and create new economic opportunities for the nation.
Central to this effort is the National Carbon Market Activation Policy and the launch of the National Carbon Registry, designed to improve emissions reporting and verification. According to Tinubu, Nigeria’s climate and green industrialization initiative could unlock $20 billion to $30 billion annually in additional climate finance, signaling a major shift toward sustainable development and clean energy investment.
The President emphasized the modernization of Nigeria’s energy infrastructure, referencing the 2023 Electricity Act, which provides decentralized energy access to rural communities, off-grid health centers, schools, markets, and underserved areas. “Nigeria recognizes the urgent need to deploy and advance technologies to improve green efficiency and accelerate the delivery of sustainable energy to underserved communities,” he said.
Tinubu also detailed several financing initiatives, including a $500 million climate investment platform for climate-resilient infrastructure, a $2 billion national climate platform, and a $50 billion sub-regional green bond that was oversubscribed by 97.7%. He noted the World Bank’s $750 million program to expand clean electricity access to over 17.5 million Nigerians as a critical partner in the country’s energy transition plan.
Looking ahead, Nigeria aims to integrate climate mitigation, industrial growth, and social development into a coherent framework with a net-zero emissions target by 2060. The National Carbon Market Framework, approved in October 2025, is designed to incentivize emissions reduction projects in forestry, renewable energy, clean cooking, and agriculture. Tinubu called for global partnerships in technology transfer, knowledge exchange, and AI adoption to accelerate Nigeria’s sustainable development agenda.
source: punch