Nigerian Exchange Group (NGX Group) has secured funding support from DEG Impulse gGmbH, a subsidiary of the German Development Finance Institution, DEG – Deutsche Investitions to commence implementation of its flagship Net-Zero Programme (N-Zero) in Nigeria.
The funding agreement, signed recently in Cologne, Germany, is supported under DEG Impulse’s develoPPP programme, which backs private sector initiatives with measurable development impact. The initiative aims to strengthen climate resilience and promote low-carbon development within Nigeria’s private sector.
N-Zero is designed to provide companies with the frameworks, tools, and technical guidance necessary to establish and pursue science-based emission reduction targets. It aligns with Nigeria’s climate commitments under the Paris Agreement and the global target to limit temperature rise to 1.5°C.
Group Managing Director/Chief Executive Officer of NGX Group, Temi Popoola, described the partnership as a critical step in NGX’s sustainability agenda. “The signing of this agreement with DEG Impulse marks a significant milestone in our sustainability journey. This partnership demonstrates strong confidence in our vision to drive sustainable finance, build a climate-conscious private sector in Nigeria and champion climate action across Africa. Through N-Zero, we aim to translate ambition into measurable impact by reducing emissions and positioning Nigerian corporates to benefit from emerging opportunities in the global carbon market.”
Group Chairman of NGX Group, Umaru Kwairanga, said the project affirms the Group’s broader commitment to sustainable development.
“This initiative represents a bold step toward positioning NGX Group at the forefront of climate leadership in Africa. As we activate the N-Zero Programme, we reaffirm our long-standing commitment to innovation, sustainable development, and creating long-term value for the Nigerian economy. It is our firm belief that capital markets must play a central role in delivering climate solutions, and this partnership is a model for what is possible when global institutions collaborate with local expertise.”
Managing Director of DEG Impulse, Hubertus Pleister, noted, “With the support of the German Federal Ministry of Economic Cooperation and Development (BMZ), the develoPPP initiative contributes to NGX’ transformation journey by addressing climate risks and advancing sustainability through strategic and innovative collaboration – reinforcing our shared commitment to building resilient capital markets and enabling long-term impact.”
The N-Zero Programme will run from June 2025 to April 2027. It is expected to support at least 26 companies in implementing environmental and social standards, as well as in developing carbon projects eligible for registration and crediting. The initiative targets an overall reduction or avoidance of 20,000 tons of greenhouse gas emissions.
Africa Foresight Group (AFG) will serve as the implementing partner. The collaboration reinforces NGX Group’s support for the United Nations Sustainable Development Goal 13 (Climate Action) and its role in advancing Nigeria’s transition toward a sustainable, inclusive economy.