The Federal Government has introduced a new initiative called the Nigerian Climate Investment Platform (NCIP), aimed at securing $500 million in climate finance. This move is designed to support green infrastructure, climate resilience, and sustainable development projects across Nigeria. The launch of NCIP shows the government’s commitment to clean energy and green growth.
The announcement came after a high-level meeting in Abuja between the Minister of Finance, Mr. Wale Edun, and key players from the Nigeria Sovereign Investment Authority (NSIA), the National Council on Climate Change (NCCC), and the Green Climate Fund (GCF). The goal of this collaboration is to build a platform that can attract climate funding from both local and international investors.
According to Mr. Edun, NSIA has a solid track record and is well-positioned to lead this initiative. He mentioned the importance of tapping into global green finance to support key sectors like agriculture, infrastructure, and digital innovation.
With global economic pressure, Nigeria must make use of all available opportunities to boost export competitiveness and strengthen the economy through sustainable means.
This platform has been carefully developed with input from different stakeholders. The Director-General of NSIA, Mr. Aminu Umar-Sadiq, said the challenge given by the Minister led them to work with the GCF and local partners to create a structure that attracts investment. This cooperation ensures that the NCIP aligns with international climate goals while remaining suitable for Nigeria’s needs.
The Green Climate Fund, represented by Mr. Soji Omisore, emphasized the need for a dedicated focus on Nigeria. He stated that no existing project under GCF is solely focused on Nigeria, and this needs to change. The NCIP is a major step toward creating that change, offering Nigeria a chance to become a priority in global climate finance efforts.
Dr. Nkiruka Maduekwe, Director-General of the NCCC, also pointed out the need to improve Nigeria’s access to international climate funds. She noted that smaller countries have multiple accredited entities with the GCF, and urged institutions like NSIA and NIRSAL to pursue similar recognition. Gaining this accreditation is crucial for unlocking large-scale green funding.
The NCIP fits into Nigeria’s broader plan to take advantage of the African Continental Free Trade Area (AfCFTA) and become a leader in the green economy. By raising $500 million in green finance, the country can support critical sectors and build a stronger, climate-resilient economy.
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This platform not only supports Nigeria’s climate goals but also opens up new economic opportunities through green energy, sustainable agriculture, and eco-friendly infrastructure.