In a major step towards advancing green economic growth, the Nigerian government, led by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has unveiled the Nigerian Climate Investment Platform (NCIP). The initiative, introduced in a high-level meeting with key stakeholders including the Nigeria Sovereign Investment Authority (NSIA), the National Council on Climate Change (NCCC), and the Green Climate Fund (GCF), aims to mobilize up to $500 million in climate finance to support infrastructure, resilience, and adaptation projects across the country.
During the meeting, Minister Edun emphasized the importance of leveraging climate finance to stimulate economic growth. “NSIA has the trust and track record to lead this,” Edun remarked. “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.”
Aminu Umar-Sadiq, Director-General of the NSIA, highlighted the significant strides made in developing the platform. “The Honourable Minister’s challenge to conceptualize and implement a credible investment platform has catalyzed this effort,” Umar-Sadiq said. “We’ve worked with the GCF and local stakeholders to develop a structure that can attract both international and domestic capital.”
The GCF’s representative, Mr. Soji Omisore, also addressed the gathering, noting the absence of a dedicated project focused solely on Nigeria. “We currently have no standalone project focused solely on Nigeria. That needs to change,” Omisore stated. “We are here to co-create a country platform that aligns with Nigeria’s climate strategy.”
Dr. Nkiruka Maduekwe, Director-General of the NCCC, underscored the urgency of increasing Nigeria’s access to international climate finance. “Countries far smaller than Nigeria have multiple accredited entities. That needs to change,” Dr. Maduekwe said. “We are pushing for the NSIA, NASRDA, and even the Ministry of Finance to pursue accreditation.”
The NCIP is part of Nigeria’s broader strategy to unlock climate-linked capital, positioning the country as a regional leader in sustainable finance. With the African Continental Free Trade Area (AfCFTA) opening new avenues for growth, the platform is expected to enhance Nigeria’s competitive advantage and help it attract vital international and domestic investments in green initiatives.