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By Chukwuma Umeorah
Nigerian Exchange Group (NGX), in partnership with Germany’s development finance institution DEG and Africa Foresight Group, has moved to position Nigerian corporates to access up to $3.0 billion in climate-linked capital, as part of efforts to strengthen corporate climate commitments and improve access to long-term funding.
The move was outlined at launch of the NGX Net-Zero Programme (N-Zero) in Lagos on Thursday. According to the NGX, the market-led initiative is aimed at improving the long-term investability and competitiveness of listed companies.
Group Chairman of NGX Group, Dr. Umaru Kwairanga, said capital markets must play a central role in Africa’s climate response. “Capital markets must be at the centre of climate leadership in Africa. The NGX Net-Zero Programme enables companies to move from climate ambition to measurable action,” he said.
Group Managing Director and Chief Executive Officer of NGX, Temi Popoola, said climate risk has become a material factor in valuation and capital allocation. “Global capital is increasingly becoming conditional, with climate risk directly impacting cost of capital and valuation.
“Companies that embed sustainability into strategy and governance are better positioned to attract long-term capital,” he said.
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From the development finance perspective, a member of the management board of DEG, Monika Beck, said the institution is focused on mobilising private capital to support climate action.
“At DEG, our corporate strategy is centred on mobilising private capital to accelerate climate action while delivering measurable development impact and sustainable returns. Partnerships such as this enable us to scale solutions that are both impactful and commercially viable,” she said.
Participants pointed to execution challenges, including capacity gaps and the need for credible frameworks. Chief Executive Officer of Chapel Hill Denham, Bolaji Balogun, said, “Access to capital, technical expertise and credible frameworks are essential if climate reporting is to translate into real investor value.”
President and Group CEO of Transcorp Plc, Dr. Owen Omogiafo, said Africa’s transition must reflect local realities. “Africa’s climate transition must be practical and inclusive, balancing sustainability objectives with economic growth and social impact,” he said.
The event ended with a Closing Gong Ceremony at the floor of the Exchange and follows a multi-million-naira co-funding partnership between NGX Group and DEG Impulse gGmbH under Germany’s develoPPP programme, which provides subsidised net-zero transition planning, technical capacity building and globally recognised frameworks for listed companies.
