By Tony Obiechina, Abuja
The Nigerian Economic Summit Group (NESG), in collaboration with the Federal Ministry of Budget and Economic Planning, has called for stronger action to translate Nigeria’s climate commitments into investments that drive economic growth, create jobs, strengthen productivity and build resilience.
The call was made on Thursday at the NESG National Green Growth Dialogue, a pre-summit engagement themed “From Commitments to Green Growth,” which brought together stakeholders from government, development finance, the energy sector, business and climate policy to examine how Nigeria can mobilise finance and partnerships to advance its green transition.
Delivering the keynote address on behalf of the Director-General of the National Council on Climate Change (NCCC), Ms. Adesola Olatunde, Chief Scientist, said green growth should not be viewed as an alternative to economic development but as an essential component of a resilient economy. She noted that the climate conversation was increasingly moving beyond environmental concerns, as climate policy now has direct implications for economic policy, energy security and agricultural productivity.
According to her, Nigeria’s priority should be to build an economy capable of withstanding external shocks while creating opportunities for sustained domestic growth.
Olatunde said climate interventions must deliver tangible economic benefits, including sustainable jobs, higher productivity and protection of livelihoods. She noted that Nigeria’s NDC 3.0 targets a 32 percent reduction in emissions by 2035 and provides a key framework for advancing the country’s pathway towards net-zero emissions by 2060. She highlighted the need to mobilise an estimated $337 billion by 2035 from the private sector and other sources to finance climate and development priorities, including renewable energy, regional mini-grids and other clean-energy solutions.
She also called for greater transparency and standardisation in the carbon market, supported by credible greenhouse gas emissions data, a net-zero investment plan and catalytic financing through mechanisms such as the Climate Change Fund. While acknowledging the importance of policy, she stressed that implementation would ultimately determine the impact of Nigeria’s climate ambitions.
Mr. Temitope Akinyemi, Special Adviser to the Honourable Minister of Finance and Coordinating Minister of the Economy on Climate Finance, highlighted the importance of strengthening the structures through which climate finance is mobilised and deployed. He explained that the Climate Change Fund is established under the Climate Change Act, with the Nigeria Natural Resource Trust Fund (NTRUPC) serving as custodian, while noting that key gaps must be addressed to optimise its impact.
Akinyemi also referenced emerging climate-finance platforms and initiatives designed to expand access to energy and mobilise investment. He cited the World Bank’s Distributed Access to Energy Scale platform and Mission 300, an initiative aimed at connecting 300 million Africans to electricity and mobilising about $32 billion. He said the National Council on Climate Change, NTRUPC and the Ministry of Finance were collaborating to ensure that available climate resources are mobilised and directed towards priority areas.
Speaking from a development-finance perspective, Ms. Imohe Omosede, Head, Climate Finance at the Development Bank of Nigeria (DBN), stressed the need to aggregate smaller projects to create investment opportunities at scale. She said a value-chain approach could also help expand access to finance for MSMEs, particularly businesses that lack sufficient collateral to meet conventional lending requirements. She explained that supporting qualified off-takers and structuring financing around their value chains could enable smaller businesses within those ecosystems to access funding and participate in green investment opportunities.
Mr. Metsegharun Weyimi, Head, Environment at Nigeria LNG, called for a broader recognition of the economic value of forests, wetlands, mangroves and other natural ecosystems. He noted that the decline in mangrove coverage and the conversion of forest areas to bare land, alongside rising sea levels and other environmental pressures, were affecting ecosystems and inland waterways.
Weyimi said investment in nature could generate employment while creating value through climate action, biodiversity conservation and tourism. He cited the more than 20,000 visitors recorded at tourism parks between January and July 2026 as an indication of the economic potential of Nigeria’s natural assets.
He also emphasised the importance of partnerships between communities and the private sector, highlighting LNG’s collaboration with communities around the Finima Nature Park as an example of how such partnerships can support conservation and local economic opportunities.
Mr. Ibrahim Shelleng, Senior Special Assistant to the President on Climate Finance and Stakeholder Engagement, emphasised the need to strengthen collaboration between the Federal Government and subnational governments. He noted that only a small number of states currently have the capacity to access significant climate finance and called for stronger institutional capacity to ensure that opportunities are distributed more widely across the country.
Shelleng said Nigeria must move from identifying climate priorities to implementing them and proposed stronger coordination through three complementary platforms: one focused on subnational governments, another connecting development partners, and a coordinating platform providing oversight across the climate-finance ecosystem. He stressed that clear structures and defined roles would be critical to improving coordination and ensuring effective deployment of climate resources.
Mr. Gerald Esambe, Head, Climate Change and Green Growth at the African Development Bank (AfDB), said the Bank supports governments through policy advice and financing for projects focused on climate adaptation and mitigation. He noted that the AfDB also applies a joint climate-finance methodology to ensure that relevant projects are appropriately aligned with adaptation and mitigation objectives.
The dialogue highlighted climate finance as a critical enabler of Nigeria’s green transition, while underscoring the need to improve the quality of projects, strengthen institutional capacity and create investment structures capable of attracting both public and private capital. Participants also emphasised the economic opportunities associated with renewable energy, sustainable infrastructure, nature-based investments and climate-resilient production.
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The NESG National Green Growth Dialogue is part of the series of pre-summit engagements convened ahead of the 32nd Nigerian Economic Summit (NES#32). The engagements provide platforms for stakeholders to examine critical issues affecting Nigeria’s economic development and generate practical perspectives for advancing productivity, investment, employment and shared prosperity.
About NES#32
The 32nd Nigerian Economic Summit (NES#32) will be held under the theme “Growth that Works: Delivering Jobs, Productivity and Shared Prosperity” on 26th–27th October 2026 at the Transcorp Hilton, Abuja. The Summit will bring together government, business leaders, development partners, experts and other stakeholders to advance practical conversations and actions towards building a more productive, competitive, sustainable and inclusive Nigerian economy.
