President Bola Tinubu has issued a strong appeal to global financial institutions—including the International Monetary Fund (IMF), World Bank, and African Development Bank (AfDB)—to significantly ramp up funding for climate initiatives across Africa.
Speaking through Vice President Kashim Shettima at a Climate Summit on the sidelines of the 80th United Nations General Assembly (UNGA) in New York, Tinubu emphasized that the climate crisis demands bold, sustained leadership—not just rhetoric.
“The climate emergency demands not just words, but courageous and sustained leadership,” he said.
Nigeria, he noted, is proactively working to mobilize between $20 and $25 billion in climate financing by 2030. These efforts include deploying green bonds, utilizing blended finance tools, and creating innovative risk-sharing mechanisms between public and private sectors.
Tinubu called for global collaboration to accelerate Africa’s transition to a low-carbon economy. He urged development partners to increase concessional financing, support knowledge sharing, and enable technology transfers.
“We aim to unlock at least seven to 10 billion dollars in grants and concessional finance from global partners,” Tinubu stated. “While promoting technology transfer, regional energy integration, and green entrepreneurship to drive inclusive growth.”
Highlighting the country’s vulnerability to climate change, Tinubu described Nigeria’s climate response as an “existential necessity.”
To attract investment in sustainable infrastructure and clean energy, he said the government has enacted sweeping domestic reforms. These include modernizing tax laws, phasing out inefficient fossil fuel subsidies, and streamlining the business environment to make Nigeria more investor-friendly.
He noted that in March 2025, Nigeria officially launched the Nigeria Carbon Market Activation Policy, designed to enable high-integrity emissions reductions and position the country as a credible hub for both voluntary and compliance carbon markets under Article 6 of the Paris Agreement.
“Through this mechanism, our target is to mobilise up to 2.5 billion dollars by 2030 in high-quality credits and related investments,” he explained. “We are under no illusion: no country can tackle the climate crisis alone.”
Tinubu reaffirmed his call for developed nations to fulfill their climate finance promises—particularly the annual $100 billion commitment under the Paris Agreement.
“This is not about charity,” he said. “It is a matter of global survival and shared responsibility.”
Nigeria’s commitment was further underscored by its recent submission of the enhanced Nationally Determined Contributions (NDC 3.0) to the UNFCCC Secretariat on September 21. This new roadmap, Tinubu said, reflects “our highest ambition level to date” and incorporates an economy-wide, absolute emissions reduction strategy.
“This enhanced NDC reflects greater ambition, integrating mitigation and adaptation measures to safeguard our people, protect ecosystems, and accelerate inclusive growth.”
The new NDC outlines plans to:
Reduce the national deforestation rate by 60%, with an estimated mitigation potential of 304.8 MtCO2eq.
Pursue additional carbon reductions of 34.4 MtCO2eq through afforestation and reforestation.
Expand the use of clean energy, aiming to install 7 GW of captive power capacity with a 50/50 mix of renewable energy and natural gas.
Electrify high-impact sectors such as public transport and industry, while enforcing energy efficiency standards to lower energy intensity by 2030.
Tinubu also revealed that, for the first time, “Health” and “Action for Climate Empowerment” have been officially prioritized in Nigeria’s NDCs—demonstrating the country’s broader approach to climate governance.
Further initiatives include:
Promoting climate-smart agriculture across five million smallholder farms, aiming to boost yields by 20–30%.
Developing resilient infrastructure, such as early warning systems, climate-informed urban planning, and robust housing, to halve climate-related damages.
Restoring natural ecosystems like mangroves, forests, and wetlands to enhance carbon sequestration by 200 MtCO2eq by 2030.
Institutionally, Nigeria has set up the National Council on Climate Change (NCCC), backed by a multi-ministerial secretariat to ensure coordinated and measurable progress on climate goals.
“For Nigeria, climate action is not a trade-off between growth and sustainability,” Tinubu declared.
“It is the pathway to sustainable growth, innovation, security, and shared prosperity.”
He concluded with a strong message of global cooperation:
“Nigeria is ready to work with all partners, to lead where necessary, and to deliver—because the time for climate action is now.”
