President Bola Ahmed Tinubu has announced plans to establish a $2 billion National Climate Change Fund as part of Nigeria’s strategy to accelerate its energy transition and attract green financing.
The President made the disclosure while speaking at the Abu Dhabi Sustainability Week Summit, where he said the Federal Government is relying on climate-focused investments to reduce emissions, boost resilience, and expand energy access.
According to Tinubu, Nigeria’s Climate Investment Platform is expected to mobilise $500 million for climate-resilient infrastructure projects across the country.
“Our National Climate Change Fund is targeting a capitalisation of $2 billion to support projects that reduce emissions and strengthen climate resilience,” the President said.
He also revealed that Nigeria and the United Arab Emirates (UAE) have signed a Comprehensive Economic Partnership Agreement (CEPA) aimed at deepening trade and investment ties in key sectors such as renewable energy, aviation, logistics, agriculture, digital trade, and climate-smart infrastructure.
“The agreement will unlock new opportunities for collaboration in clean energy, infrastructure, and sustainable development,” Tinubu noted.
The President acknowledged that Nigeria faces major environmental challenges, particularly in reducing gas flaring and methane emissions, as the country works toward its Energy Transition Plan.
The plan targets net-zero emissions by 2060 while ensuring universal access to electricity for Nigerians.
Tinubu disclosed that Nigeria’s green finance efforts are already yielding results, citing strong investor demand for recent green bond issuances.
“Our ₦50 billion sovereign green bond issued in 2025 attracted ₦91 billion in subscriptions, while Lagos State’s green bond was oversubscribed by nearly 98%,” he said.
He added that the government is seeking to unlock between $25 billion and $30 billion annually in climate finance to support sustainable projects nationwide.
To guide investors, the administration has launched a Climate and Green Industrialisation Investment Playbook, designed to clarify manufacturing policies and the regulatory environment for private sector players.
The President said the new strategy builds on previous initiatives, including the Nigeria Sovereign Investment Authority’s (NSIA) $500 million Distributed Renewable Energy Fund, launched in March 2025 to boost local financing for clean energy projects.
“These reforms show Nigeria is ready for business,” Tinubu stated, adding that non-oil exports have grown by 21% and investment commitments now exceed $50 billion across major sectors.
He also revealed that Nigeria is prioritising technology partnerships to modernise the national power grid, deploy artificial intelligence for efficiency, and roll out pilot projects in electric mobility and green industrialisation.
