Nigeria: Nigeria is turning to green finance to speed up its energy transition, with President Bola Tinubu announcing plans for a $2 B climate fund and pointing to strong investor interest in the country’s green bonds.
Speaking at the Abu Dhabi Sustainability Week summit, Tinubu said Nigeria’s Climate Investment Platform aims to raise $500 M for climate-resilient infrastructure. Alongside this, the National Climate Change Fund is seeking a total capital base of $2 B to support projects that reduce emissions and strengthen resilience.
The president also revealed that Nigeria and the United Arab Emirates have signed a Comprehensive Economic Partnership Agreement. The deal is designed to increase trade and investment in areas such as renewable energy, aviation, logistics, agriculture, digital trade and climate-smart infrastructure.
Nigeria is facing significant environmental and climate policy challenges, including cutting gas flaring and methane emissions. These efforts sit within the country’s Energy Transition Plan, which targets net-zero emissions by 2060 while expanding access to energy for all.
Tinubu highlighted growing confidence in Nigeria’s green bond programme. A $38 M (50 B naira) sovereign green bond issued in 2025 received subscriptions worth $69 M (91 B naira), while Lagos State’s green bond was almost 98 % oversubscribed.
He said the government is also working to unlock $25–$30 B a year in climate finance. A new Climate and Green Industrialisation Investment Playbook will help investors better understand manufacturing policies and regulations.
The plans build on earlier efforts, including the Nigeria Sovereign Investment Authority’s $500 M Distributed Renewable Energy Fund launched in March 2025.
Tinubu said non-oil exports have risen by 21 % and investment commitments now top $50 B. He also called for greater use of blended finance rather than sovereign guarantees, arguing this approach is fairer for emerging economies.
Source: Zawya
