The Federal Government has launched a new climate finance strategy aimed at driving sustainable development, attracting green investments, and supporting Nigeria’s transition to net-zero greenhouse gas emissions by 2060.
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The strategy, known as the Nigeria Net-Zero Investment Plan (NZIP), was unveiled in Abuja by the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, alongside the Head of International Cooperation at the German Embassy, Dr Karin Jansen.
The launch brought together senior government officials, development partners, financial institutions, and private-sector stakeholders as Nigeria intensifies efforts to position itself as a major destination for climate finance and green investments in Africa.
Speaking during the unveiling, Senator Bagudu said the NZIP reflects Nigeria’s commitment to balancing climate action with economic growth while creating opportunities for local and international investors.
According to him, the Federal Government is focused on building an economy that is environmentally sustainable, commercially viable, and inclusive.
He disclosed that discussions with German partners have already secured €71 million in contributions and a €300 million credit guarantee to support Nigeria’s climate and development priorities.
Bagudu said environmental sustainability remains a key part of Nigeria’s Agenda 2050, adding that the government is already investing in initiatives such as solar-powered agricultural systems and modern farming practices designed to reduce environmental impact.
He also noted that ongoing budget reforms are expected to improve investor confidence, de-risk climate-related investments, and strengthen Nigeria’s competitiveness in attracting green finance.
“The goal is to build a $1 trillion economy that is inclusive and environmentally sustainable through strategic partnerships,” the minister said.
He highlighted collaborations with organisations such as Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and KfW Development Bank as part of the government’s broader climate and economic agenda.
Representing the German government, Dr Karin Jansen described the NZIP as a strong signal of Nigeria’s commitment to renewable energy, energy efficiency, and emissions reduction.
She, however, stressed that the long-term success of the initiative would depend on the country’s ability to convert climate targets into practical and bankable projects capable of delivering measurable impact for citizens and communities.
The Director of the Department of Climate Change at the Federal Ministry of Environment, Dr Iniobong Abiola-Awe, said the investment plan targets critical sectors including power, transport, agriculture, industry, waste management, and domestic energy.
According to her, the initiative also places strong emphasis on women, youths, and small businesses to ensure wider participation in Nigeria’s emerging green economy.
Country Director of GIZ, Dr Markus Wagner, described the launch of the NZIP as an important step towards translating Nigeria’s climate ambitions into real investment opportunities.
“Beyond setting targets, the NZIP provides a structured framework that can help mobilise public and private finance towards sustainable economic growth, climate resilience, and long-term low-carbon development,” Wagner said.
He added that achieving net-zero emissions would require stronger collaboration among government institutions, development partners, financial institutions, and the private sector.
The NZIP was developed under the NDC Partnership’s “Global Call for NDCs 3.0 and LT-LEDS” with technical support from GIZ and funding from the German International Climate Initiative.
Analysts believe the plan could improve Nigeria’s access to international climate funding at a time when global investors are increasingly prioritising sustainable and low-carbon projects.
