• Nigeria set a $2 billion capitalization target for its national climate fund.
• The fund will finance emissions reduction and climate adaptation projects.
• Authorities advanced climate finance tools amid energy and climate pressures.

During Abu Dhabi Sustainability Week, which runs from January 11, to Thursday, January 15, Nigerian President Bola Tinubu said Nigeria aims to capitalize its national climate fund at $2 billion, according to comments reported by Reuters. The fund will support projects that reduce greenhouse gas emissions and strengthen adaptation to climate change impacts. Tinubu did not specify a timeline for raising the funds but said investors have shown strong interest in Nigeria’s green financial instruments.

FULL SPEECH DELIVERED BY PRESIDENT BOLA AHMED TINUBU AT THE ONGOING SUSTAINABILITY WEEK IN ABU DHABI.#PBATInUAE pic.twitter.com/JOM5gIgDHS

— President Bola Ahmed Tinubu Media Centre (@PBATMediaCentre) January 13, 2026

The climate fund announced by the president draws its legal basis from the Climate Change Act adopted in 2021. The fund remained inactive for several years before authorities launched an operationalization process in 2025. The fund will receive financing from budgetary allocations, international contributions, climate-related fines, and revenues generated through carbon mechanisms.

The initiative complements the Nigerian Climate Investment Platform (NCIP), a separate mechanism unveiled by the Federal Ministry of Finance in May 2025. The platform aims to mobilize up to $500 million for infrastructure, resilience, and adaptation projects. Authorities structured the platform around coordination between the Ministry of Finance, the Nigeria Sovereign Investment Authority, the National Council on Climate Change, and the Green Climate Fund.

These announcements followed Nigeria’s reaffirmation of its carbon neutrality target by 2060 and the adoption of an energy transition plan covering power generation, transport, oil and gas, domestic cooking, and industry. In 2023, natural gas accounted for 77% of Nigeria’s electricity production, while the power sector generated 17% of the country’s energy-related CO₂ emissions.

As Africa’s most populous country and one of its largest economies, Nigeria faces high exposure to climate risks, heavy dependence on fossil fuels, and a persistent electricity access deficit affecting millions of people. In this context, Nigeria’s ability to mobilize large-scale financing will play a decisive role in supporting sustainable development and building a more resilient economy.

This article was initially published in French by Abdoullah Diop

Adapted in English by Ange Jason Quenum