Tinubu Unveils Nigeria’s Bold Green Revolution — Approves National Carbon Market, Climate Fund Before COP30

President Bola Tinubu has approved the National Carbon Market Framework, the activation of the Climate Change Fund, and the restoration of the National Council on Climate Change (NCCC) to the national budget.

According to the Presidency, the move aims to position Nigeria to attract substantial climate finance and enhance its participation in the global carbon market—estimated to generate between $2.5 billion and $3 billion annually for the country over the next decade.

The announcement comes ahead of the 2025 United Nations Climate Change Conference (COP30), set to take place in Belem, Brazil, from November 10 to 21, 2025.

In a statement issued on Friday, Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications (Office of the Vice President), said the framework would guide Nigeria’s engagement in global carbon trading.

“The goal is to establish and manage Nigeria’s participation in carbon markets, enabling the nation to unlock between $2.5 billion and $3 billion annually in carbon finance over the next decade to help meet climate goals,” the statement read.

Nkwocha explained that the approvals followed a presentation by NCCC Director-General, Mrs. Omotenioye Majekodunmi, during the council’s second meeting at the Presidential Villa, Abuja.

Represented by Vice President Kashim Shettima, President Tinubu said the initiatives will enable Nigeria to participate actively in global climate systems while driving investment in green growth.

“These steps are designed to position Nigeria to leverage opportunities in the global carbon market and to play a leading role in climate action,” he stated.

Nigeria Poised for Global Climate Leadership

President Tinubu emphasized that his administration views climate change not only as an environmental issue but also as a pathway to job creation, investment attraction, and industrial innovation across energy, agriculture, and manufacturing.

“Nigeria is ready to take its rightful place as a global leader in climate action—ensuring our voice and reality are heard and respected in international negotiations,” he declared.

He added that Nigeria’s focus at COP30 would include mobilising climate financing for resilient projects through the carbon market and other international funding mechanisms.

Tinubu also directed the restoration of the NCCC’s budget line within the Federation Account Allocation Committee (FAAC) framework to ensure sustainable financing for the Climate Change Fund.

“We will continue to pursue policies that safeguard our people, strengthen our economy, and position Nigeria as a destination for green investment and innovation,” he said.

Nigeria Eyes Green Growth Ahead of COP30

NCCC Director-General Majekodunmi told the council that Nigeria now qualifies for access to new rounds of multilateral climate finance. She said the newly adopted National Carbon Market Framework (NCMF) would establish a structured system for generating, validating, and trading carbon credits locally and internationally.

“Our decisions today will determine how effectively Nigeria can mobilise support to achieve its climate goals,” she added.

She further noted that the Climate Change Fund ensures immediate readiness for fund mobilisation, while the restored budget line provides long-term financial stability.

Meanwhile, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, endorsed the Council’s resolutions, stressing the need for Nigeria to secure a solid foothold in the evolving global carbon ecosystem.

He announced plans for a Climate Finance Tracking Dashboard to ensure transparency in managing climate-related funds.

“Nigeria must not only participate but must also benefit significantly from the emerging carbon market structure,” Edun stated.

A Bold Step Toward Green Prosperity

With these policy approvals, Nigeria signals its readiness to take a strategic leadership role in global climate action, leveraging carbon markets and climate finance to drive sustainable development.

“This sends a strong message that Nigeria is serious about climate action and the vast economic opportunities it brings,” a senior environment official noted after the meeting.