FG Initiates Investment Platform to Mobilise $500m in Climate Finance
Ndubuisi Francis in Abuja and Nume Ekeghe in Lagos
The federal government has unveiled the Nigerian Climate Investment Platform (NCIP), a country-led initiative to mobilise up to $500 million in climate finance for infrastructure, resilience, and adaptation projects.
The NCIP which is a bold move towards unlocking green finance and drive sustainable economic growth was unveiled yesterday at a high-level meeting in Abuja between the
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun; officials of the Nigeria Sovereign Investment Authority (NSIA), the National Council on Climate Change (NCCC), and the Green Climate Fund (GCF).
At the meeting, Edun stated that the NSIA has the trust and track record to lead the initiative, emphasising the importance of leveraging climate finance opportunities to drive growth, boost export competitiveness, and support key sectors like agriculture, infrastructure, and digital innovation.
“If accreditation is the last hurdle, I’m confident they’re ready. The global economic environment demands that we leverage all opportunities—climate finance included—to drive growth, boost export competitiveness, and support sectors like agriculture, infrastructure, and digital innovation,” a statement issued by the Director, Information and Public Relations, Federal Ministry of Finance, Mohammed Manga said. in a statement.
The NCIP’s development has been a collaborative effort, with the NSIA working closely with the GCF and local stakeholders to create a structure that can attract both international and domestic capital.
In his remarks, the Managing Director of NSIA, Mr. Aminu Umar-Sadiq, said: “The Honourable Minister’s challenge to conceptualise and implement a credible investment platform has catalysed this effort. We’ve worked with the GCF and local stakeholders to develop a structure that can attract both international and domestic capital.”
Speaking on behalf of the GCF, Mr. Soji Omisore added, “We currently have no standalone project focused solely on Nigeria. That needs to change. We are here to co-create a country platform that aligns with Nigeria’s climate strategy.
On her part, Director-General of the NCCC, Dr. Nkiruka Maduekwe stressed the urgency of increasing Nigeria’s access to international climate finance. *Countries far smaller than Nigeria have multiple accredited entities. That needs to change. We are pushing for the NSIA, NASRDA, and even the Ministry of Finance to pursue accreditation,” she said.
The NCIP is part of Nigeria’s broader strategy to unlock climate-linked capital and position the country as a regional leader in sustainable finance, particularly as global trade dynamics evolve and the African Continental Free Trade Area (AfCFTA) presents new growth opportunities.
“With the launch of the NCIP, Nigeria is poised to take a significant step towards a more sustainable and climate-resilient future. By mobilising $500 million in climate finance, the country can drive growth, support key sectors, and position itself as a leader in green economy.
“The success of this initiative will depend on the collaborative efforts of all stakeholders involved, but the potential benefits for Nigeria’s economy and environment are undeniable,” the statement added.
