President Bola Tinubu has launched Nigeria’s Climate and Green Industrialization Investment Playbook, with a view to securing $25 billion to $30 billion annually in climate finance for the country.
The President spoke on this initiative at the Abu Dhabi Sustainability Week (ADSW) in the United Arab Emirates (UAE) on Tuesday, restating Nigeria’s commitment to turning climate ambitions into tangible actions.
He maintained: “The connections between climate and the global economy, health and energy systems, as well as food security must now shape the way we govern and cooperate.”
While harping on the imperative of integrated climate action by national governments globally, Tinubu recalled that the Nigerian government had introduced some regulatory measures, including the National Carbon Market Activation Policy (NCMAP) and the National Carbon Registry, in its sustained drive towards enhancing emissions reporting and investor safeguards.
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In addition, he cited the enactment of the Electricity Act 2023, which had helped in decentralizing energy delivery to rural areas and underserved populations, stressing the need for stronger partnerships for deploying artificial intelligence (AI) to boost energy efficiency and promote technology transfer.
The President also solicited global investors’ partnerships in the development of the nation’s lithium reserves for battery production and energy storage, thereby promoting local processing and value-addition.
Tinubu maintained that the Federal Government was deepening access to green finance, highlighting the Climate Investment Platform’s $500 million target for climate-resilient infrastructure and the National Climate Change Fund’s $2 billion capitalization target to support his position on Nigeria’s commitment to climate change.
It would be recalled that Nigeria’s Sovereign Investment Authority (NSIA) had launched a $500 million Distributed Renewable Energy Fund and the World Bank also announced its $750 million DARES programme to expand clean electricity access to 17.5 million Nigerians.
This is even as Nigeria’s green bond auction continued to elicit investor interest with the N50 billion sovereign green bond auction in 2025 oversubscribed by N91 billion.
Nigeria’s energy transition plan integrates energy access, climate mitigation, industrial growth, and social development, with the Federal Government targeting net-zero emissions in the country by 2060.
