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FGN Unveils Climate Investment Platform to Unlock $500m in Green Finance
In a bold move to accelerate green economic growth, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, today met with a high-level delegation from the Nigeria Sovereign Investment Authority (NSIA), the National Council on Climate Change (NCCC), and the Green Climate Fund (GCF) to advance the Nigerian Climate Investment Platform (NCIP).
The NCIP is a country-led, transparently governed vehicle designed to mobilise up to $500 million in climate finance for infrastructure, resilience, and adaptation projects.
“NSIA has the trust and track record to lead this,” said Minister Edun. “If accreditation is the last hurdle, I’m confident they’re ready. The global economic environment demands that we leverage all opportunities—climate finance included—to drive growth, boost export competitiveness, and support sectors like agriculture, infrastructure, and digital innovation.”
Mr. Aminu Umar-Sadiq, Director-General of the NSIA, noted: “The Honourable Minister’s challenge to conceptualize and implement a credible investment platform has catalyzed this effort. We’ve worked with the GCF and local stakeholders to develop a structure that can attract both international and domestic capital.”
Speaking on behalf of the GCF, Mr. Soji Omisore added, “We currently have no standalone project focused solely on Nigeria. That needs to change. We are here to co-create a country platform that aligns with Nigeria’s climate strategy.”
Dr. Nkiruka Maduekwe, Director-General of the NCCC, stressed the urgency of increasing Nigeria’s access to international climate finance. “Countries far smaller than Nigeria have multiple accredited entities. That needs to change. We are pushing for the NSIA, NASRDA, and even the Ministry of Finance to pursue accreditation.”
The NCIP forms part of Nigeria’s broader strategy to unlock climate-linked capital and position the country as a regional leader in sustainable finance, particularly as global trade dynamics evolve and the African Continental Free Trade Area (AfCFTA) presents new growth opportunities.
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