The Federal Government has announced plans to leverage green finance to accelerate Nigeria’s energy transition, with President Bola Ahmed Tinubu unveiling a proposed $2 billion National Climate Change Fund.
The President disclosed this on Tuesday while addressing participants at the Abu Dhabi Sustainability Week summit, where he outlined Nigeria’s strategy for mobilising large-scale climate and energy transition financing.
According to Tinubu, Nigeria’s Climate Investment Platform is designed to mobilise $500 million to support climate-resilient infrastructure, while the National Climate Change Fund is targeting a capitalisation of $2 billion to finance projects aimed at cutting emissions and strengthening resilience.
The President also announced that Nigeria and the United Arab Emirates have signed a Comprehensive Economic Partnership Agreement (CEPA) to deepen trade and investment relations across key sectors, including renewable energy, aviation, logistics, agriculture, digital trade and climate-smart infrastructure.
Tinubu noted that Nigeria’s energy transition priorities include reducing gas flaring and methane emissions, in line with the country’s Energy Transition Plan, which aims to achieve net-zero emissions by 2060 while ensuring universal access to energy.
Highlighting investor confidence in Nigeria’s green finance initiatives, the President said the country’s green bond programme has continued to attract strong interest. He disclosed that a ₦50 billion ($38 million) sovereign green bond issued in 2025 drew subscriptions of ₦91 billion, while Lagos State’s green bond was oversubscribed by nearly 98 per cent.
Tinubu further revealed that the Federal Government is working to unlock between $25 billion and $30 billion annually in climate finance. He said a new Climate and Green Industrialisation Investment Playbook would help private investors and other stakeholders navigate Nigeria’s manufacturing policies and regulatory environment.
The initiative builds on earlier efforts, including the Nigeria Sovereign Investment Authority’s $500 million Distributed Renewable Energy Fund, launched in March 2025 to catalyse domestic financing for renewable energy projects.
“These reforms show Nigeria is ready for business,” Tinubu said, adding that non-oil exports have grown by 21 per cent, while investment commitments now exceed $50 billion across critical sectors of the economy.
The President also said Nigeria is prioritising technology partnerships to modernise the national grid, deploy artificial intelligence to improve efficiency, and roll out pilot projects in electric mobility and green industrialisation as part of its broader energy transition agenda.
