Nigeria TV Info — FG Targets $25 Billion in Climate Finance by 2030 to Drive Economy-Wide Emission Reductions

Abuja, Nigeria — October 12, 2025: The Federal Government of Nigeria has set an ambitious target to mobilize between $20 billion and $25 billion in climate finance by 2030 as part of its comprehensive climate governance and transition to a low-carbon economy.

The Director-General of the National Council on Climate Change (NCCC), Mrs. Omotenioye Majekodunmi, disclosed this during a press conference held over the weekend in Abuja.

According to Majekodunmi, the government has finalized the Nigeria Carbon Market Framework, which will soon be presented to the Federal Executive Council (FEC) for approval. She explained that the recently submitted Nationally Determined Contribution (NDC3.0) represents a major shift from previous climate plans, describing it as Nigeria’s most ambitious and well-defined emission reduction strategy to date.

> “NDC3.0 departs from the ‘business-as-usual’ approach to an absolute, economy-wide emission reduction framework. Our targets are clearer and supported by an investment plan to accelerate implementation,” she said.

Majekodunmi revealed that the new framework aims for a 32.2% increase in emission reduction compared to the 2018 baseline, and includes stronger mitigation and adaptation goals than the earlier NDC2.0.

The updated contribution seeks to lower Nigeria’s deforestation rate by 60%, which is projected to reduce emissions by 304.8 million tonnes of CO₂ equivalent (MtCO₂eq). Additionally, Nigeria plans to expand cleaner energy adoption by installing 7 gigawatts (GW) of new capacity — evenly split between renewable energy and natural gas — as part of a realistic “Energy Mix Plan” toward achieving net-zero emissions by 2060.

For the first time, Majekodunmi said, “Health” and “Action for Climate Empowerment” have been included as priority sectors in the NDC, marking Nigeria’s deepening commitment to economy-wide climate governance.

To fund these ambitious targets, Nigeria plans to leverage green bonds, blended finance, and public-private partnerships, with a focus on unlocking $7–10 billion in grants and concessional finance from global partners while promoting technology transfer.

Speaking on Nigeria’s preparations for the upcoming 30th Conference of the Parties (COP30) to the UN Framework Convention on Climate Change (UNFCCC) scheduled for November 10–21, 2025, in Belém, Brazil, Majekodunmi said the country will showcase its renewed commitment to sustainable climate action and green economic transformation.