The Federal Government has announced plans to mobilise about $25 billion in climate finance by 2030 as part of its economy-wide climate governance framework.
Speaking at a press conference over the weekend, the Director-General of the National Council on Climate Change (NCCC), Mrs. Omotenioye Majekodunmi, disclosed that Nigeria’s Carbon Market Framework has been finalised and will soon be submitted to the Federal Executive Council (FEC) for approval.
Majekodunmi explained that the country’s newly submitted Nationally Determined Contribution (NDC3.0) represents a major shift from the traditional “business-as-usual” approach, adopting an absolute economy-wide emission reduction plan — Nigeria’s most ambitious climate commitment to date.
She said the updated NDC features better-defined targets backed by a comprehensive investment plan designed to accelerate implementation and attract both domestic and international funding.
According to her, Nigeria has set a 32.2% emission reduction target compared to the 2018 baseline, reflecting a significant increase in mitigation and adaptation ambitions over NDC2.0.
Majekodunmi further noted that the NDC3.0 aims to reduce the national deforestation rate by 60%, offering a substantial mitigation potential of 304.8 MtCO₂eq.
She reaffirmed the NCCC’s commitment to implementing sustainable policies that will drive green growth, enhance environmental resilience, and position Nigeria as a leader in Africa’s low-carbon transition.
