FG unveils Nigerian Climate Investment Platform to mobilise $500m in green finance

From Adanna Nnamani, Abuja

The federal government launched the Nigerian Climate Investment Platform (NCIP) on Tuesday, May 13, to mobilise $500 million in climate finance for infrastructure, resilience, and adaptation projects.

The announcement followed a high-level meeting in Abuja with Minister of Finance Wale Edun, the Nigeria Sovereign Investment Authority (NSIA), the National Council on Climate Change (NCCC), and the Green Climate Fund (GCF), as stated by Ministry Spokesperson Mohammed Manga.

Edun praised NSIA’s leadership, saying, “The global economic environment demands that we leverage climate finance to drive growth, boost export competitiveness, and support agriculture, infrastructure, and digital innovation.” The NCIP aims to attract domestic and international capital, aligning with Nigeria’s sustainable finance strategy and the African Continental Free Trade Area (AfCFTA).

NSIA Director-General Aminu Umar-Sadiq noted, “We’ve worked with the GCF and local stakeholders to develop a structure that can attract both international and domestic capital.” GCF representative Soji Omisore emphasised co-creating a platform aligned with Nigeria’s climate goals, noting the absence of standalone GCF projects in the country.

NCCC Director-General Dr Nkiruka Maduekwe stressed the need for better access to global climate funds, stating, “Countries far smaller than Nigeria have multiple accredited entities. We are pushing for NSIA, NASRDA, and the Ministry of Finance to pursue accreditation.” The NCIP signals Nigeria’s commitment to green growth, with success depending on stakeholder collaboration.