NGX, DEG Drive Net-Zero Transition to Unlock $3 Billion in Climate Funding for Nigerian Corporates
The Nigerian Exchange Group (NGX Group), in partnership with Germany’s development finance institution DEG and Africa Foresight Group, has launched a major push to help Nigerian corporates access climate-linked capital estimated at $2.5–$3 billion. The collaboration took center stage at the NGX–DEG CEO Roundtable, convening corporate leaders, market stakeholders, and development finance institutions to accelerate climate commitments and strengthen the competitiveness of listed companies.
At the event, NGX Group Chairman Alhaji Umaru Kwairanga highlighted the pivotal role of capital markets in Africa’s climate response. “Capital markets must be at the centre of climate leadership in Africa. The NGX Net-Zero Programme enables companies to move from climate ambition to measurable action,” he said, emphasizing the need for actionable strategies rather than just pledges.
NGX Group CEO Temi Popoola stressed that climate risk has become a material factor in investment decisions, directly affecting company valuation and access to capital. “Global capital is increasingly conditional, with climate risk directly impacting cost of capital and valuation. Companies that embed sustainability into strategy and governance are better positioned to attract long-term capital,” Popoola said.
DEG’s Monika Beck added that partnerships like this are essential to scale commercially viable climate solutions. “Our strategy centres on mobilising private capital to accelerate climate action while delivering measurable development impact and sustainable returns,” she said. The initiative provides subsidized net-zero transition planning, technical capacity building, and globally recognized frameworks for listed companies under Germany’s develoPPP programme.
Corporate leaders at the roundtable acknowledged that execution remains a challenge. Bolaji Balogun, CEO of Chapel Hill Denham, noted that access to capital, technical expertise, and credible reporting frameworks are key to converting climate commitments into tangible investor value. Meanwhile, Transcorp CEO Owen Omogiafo emphasized the importance of practical, inclusive approaches that balance sustainability with economic growth and social impact. The event concluded with a symbolic Closing Gong Ceremony, marking a significant step toward Nigeria’s climate finance transformation.
source: Leadership