ABUJA, Nigeria (VOICE OF NAIJA)-President Bola Tinubu has approved the adoption of the National Carbon Market Framework, the operationalisation of the Climate Change Fund, and the restoration of the National Council on Climate Change to the budget line.
This approval comes ahead of the 2025 United Nations Climate Change Conference (COP 30), scheduled to hold in Brazil from Monday, November 10 to Friday, November 21, 2025.
The Senior Special Assistant to the President on Media and Communications (Office of the Vice President), Stanley Nkwocha, disclosed this in a statement issued on Friday.
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“The goal is to establish and manage Nigeria’s participation in carbon markets, enabling the nation to unlock between $2.5 billion and $3 billion annually in carbon finance over the next decade to help meet climate goals,” the statement read.
According to Nkwocha, the approvals followed a presentation by the Director General of the National Council on Climate Change (NCCC), Mrs. Omotenioye Majekodunmi, during the second meeting of the Council held on Thursday evening at the Presidential Villa, Abuja.
Tinubu, represented by Vice President Kashim Shettima, noted that these measures are part of his administration’s efforts to position Nigeria to take advantage of opportunities in the global carbon market and play a more active role in the global climate change ecosystem.
He also outlined Nigeria’s agenda ahead of the 30th United Nations Climate Change Conference (COP 30) in Belem, Brazil, emphasizing the country’s focus on harnessing opportunities to finance climate-resilient projects and related initiatives through the global carbon market.
The President stressed that addressing climate change is not only an environmental necessity but also an avenue to attract investments, create jobs, and drive innovation across Nigeria’s energy, agriculture, and industrial sectors.
He stated, “Nigeria stands ready to take its rightful place as a global leader in climate action, ensuring that our voice and our reality are heard and respected in international negotiations.
“We have demonstrated this commitment through our active participation in the UNFCCC process, our progress towards implementing our nationally determined contributions, and our efforts to mobilize climate finance for adaptation and mitigation across all levels of government.”
Tinubu assured that as chairman of the Council, climate action will remain a key priority in his administration’s development agenda.
“We will continue to champion policies that protect our people, strengthen our economy, and position Nigeria as a destination for green investment and innovation,” he said.
Earlier, Mrs. Omotenioye Majekodunmi, Director-General and Secretary to the Council, told members under the chairmanship of Vice President Shettima that the meeting was timely, as its discussions and resolutions would shape Nigeria’s global perception and ability to mobilize international support for its climate objectives.
The Council Secretariat reaffirmed its dedication to providing technical leadership and coordination to turn Nigeria’s climate commitments into measurable results.
Presenting the Council’s progress report, Majekodunmi revealed that Nigeria now qualifies to access new rounds of climate finance from multilateral funds.
She further outlined key requests, including the adoption of the National Carbon Market Framework, which could unlock between $2.5 billion and $3 billion annually in carbon finance over the next decade.
Other key recommendations included the operationalisation of the Climate Change Fund for immediate fund mobilization and utilization, and the restoration of the NCCC budget line within the annual FAAC allocation to ensure financial stability.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, endorsed these recommendations, stressing that Nigeria must secure a strong foothold within the carbon framework.
He pledged his ministry’s full support and announced plans to coordinate a quarterly Climate Finance Tracking Dashboard through the ministry’s economic department.
The National Carbon Market Framework (NCMF) is a comprehensive policy designed to establish the institutions, regulations, and procedures for generating, validating, and trading carbon credits both domestically and internationally.
COP 30, a landmark global summit, will gather world leaders, scientists, and civil society groups to negotiate strategies for combating climate change, with the goal of limiting global warming and advancing the Paris Agreement objectives.
The 2025 conference will be especially significant as it marks the anniversaries of both the Kyoto Protocol and the Paris Agreement, and will be hosted in the Amazon region.