Nigeria has unveiled plans to mobilize $3 billion each year to finance climate action and drive green investments. The announcement was made by Vice President Kashim Shettima during the COP30 Climate Summit in Belém, Brazil, on behalf of President Bola Ahmed Tinubu.

According to Shettima, the initiative will be anchored on Nigeria’s National Carbon Market Framework and Climate Change Fund, designed to attract both public and private financing. The funds will support projects such as reforestation, blue carbon initiatives, sustainable agriculture, and land restoration aimed at curbing deforestation and desertification.

He emphasized that the plan aligns with Nigeria’s Climate Change Act of 2021, which commits the nation to net-zero emissions by 2060. Shettima also urged global partners to ensure fair and accessible climate financing, noting that developing countries contribute least to global emissions but bear the greatest impact.

Experts describe the $3 billion target as ambitious but achievable with strong governance, transparency, and international cooperation. If successful, it could make Nigeria a major hub for green investment and climate innovation in Africa. Visit www.jocomms.com for more news.