Nigeria has officially approved its Carbon Market Framework, positioning the country as a rising player in the global climate economy and unlocking billions of dollars in potential green investments. The announcement was made during the Abu Dhabi Sustainability Week in the United Arab Emirates.
The National Council on Climate Change (NCCC), led by Director General Mrs. Omotenioye Majekodunmi, explained that the framework provides a clear regulatory and institutional structure for carbon trading in Nigeria.
It allows both local and international investors to develop, finance, and benefit from climate-friendly projects while earning carbon credits.
“This development signals that Nigeria is now fully open for climate business,” Majekodunmi said, highlighting that the carbon market alone could attract over $3.8 billion in annual investments.
Opportunities span renewable energy, clean cooking solutions, reforestation, climate-smart agriculture, and sustainable infrastructure.
Since initial approvals in October 2025, Nigeria has received between 3,000 and 4,000 applications for carbon-related projects, reflecting strong interest from investors eager to participate in the country’s emerging market.
Nigeria’s Minister of Environment, Malam Balarabe Abbas Lawal, emphasized that the country’s active role at the Abu Dhabi Sustainability Week demonstrates the Federal Government’s commitment to deepening international partnerships, particularly with the UAE.
He added that technology transfer, innovation, and local capacity development will be prioritized to strengthen clean energy systems, climate-smart agriculture, and resilient infrastructure nationwide.
With this framework, Nigeria is signaling a major step toward climate leadership in Africa, creating both economic opportunities and a platform to tackle climate change through sustainable development.