Non-governmental organization Vectar Energy has renewed its call for increased climate financing and clean energy investments in Nigeria, stressing the need to accelerate the country’s transition from fossil fuels to renewable energy solutions.
Speaking at the inaugural EcoWise Multi-Stakeholder Forum in Abuja, Founder of Vectar Energy, Deborah Fadeyi, emphasized that clean energy in Nigeria is critical to achieving inclusive growth and addressing energy poverty. The event was themed: “Trust, Scale, Impact: Unlocking Climate Finance through Carbon Credits for Solar in Nigeria.”
“Access to electricity remains a major challenge. Over 8.6 million Nigerians are still without power despite the country’s abundant energy resources,” said Fadeyi. “When we attend global climate summits like COP, we often ask for aid to build resilience. But aid alone is not a sustainable solution. We need to start thinking in terms of trade—particularly through carbon credit systems.”
Fadeyi explained that by investing in low-carbon solar energy projects, Nigeria can generate carbon credits that are globally tradable, creating a new stream of climate financing. These credits can be sold to multinational corporations like Amazon and Microsoft, which are seeking offsets to meet their net-zero emissions targets.
“Carbon credits offer Nigeria a unique opportunity to monetize clean energy efforts while accelerating the deployment of solar and renewable energy projects,” she added.
The forum brought together stakeholders from the energy, finance, and environmental sectors to discuss how innovative funding models and renewable energy investments in Nigeria can unlock economic and environmental benefit
