Nigeria to unlock $3bn annually from carbon market — Tinubu
By Kunle Sanni –
President Bola Tinubu has announced that Nigeria is positioning itself to unlock between $2.5 billion and $3 billion annually from the global carbon market over the next decade, as the country advances a self-driven emissions trading system.
The president made this known on Tuesday while addressing world leaders at the 2026 Abu Dhabi Sustainability Week, themed “The Nexus of Next: All Systems Go.”
He said Nigeria has activated a comprehensive carbon market framework aimed at mobilising climate finance and strengthening national climate governance.
Tinubu disclosed that the government has taken decisive regulatory steps, including the adoption of the National Carbon Market Activation Policy and the launch of the National Carbon Registry, to improve emissions reporting, verification, and transparency.
According to him, Nigeria is also pursuing broader climate and green industrialisation investments designed to unlock between $20 billion and $30 billion annually in climate finance.
The president highlighted reforms in the power sector, citing the Electricity Act of 2023, which allows decentralised and inclusive energy access for rural communities, off-grid health facilities, schools, markets, and other underserved areas. He said the government is modernising the nation’s energy architecture to accelerate the delivery of sustainable power.
Tinubu further announced key financing initiatives, including a $500 million climate investment platform targeting climate-resilient infrastructure, a national climate platform expected to mobilise $2 billion in capital investment, and a $50 billion sub-regional green bond, which he said was oversubscribed by 97.7 per cent.
He also noted the role of the World Bank, which is implementing a $750 million programme to expand clean electricity access to more than 17.5 million Nigerians.
