Nigeria has officially launched its Carbon Market Framework, a landmark move aimed at accelerating climate action and positioning the country as a leading player in the global green economy.
The announcement was made at the ongoing Abu Dhabi Sustainability Week, one of the world’s foremost platforms for climate innovation and investment.
The National Council on Climate Change (NCCC), headed by its Director-General, Mrs. Omotenioye Majekodunmi, explained that the framework provides a clear regulatory and institutional structure for carbon trading in Nigeria.
The system is designed to enable local and international investors to finance climate-smart projects, earn verified carbon credits, and support sustainable development initiatives across the country.
Mrs. Majekodunmi described the launch as a decisive signal that Nigeria is now fully open for climate business, projecting that the carbon market could attract more than $3.8 billion in investment annually.
She noted that the initiative would unlock opportunities in renewable energy, reforestation, sustainable agriculture, and clean technology.
Minister of Environment, Balarabe Abbas Lawal, said Nigeria’s active participation at Abu Dhabi Sustainability Week reflects the Federal Government’s determination to strengthen global partnerships, particularly with the United Arab Emirates.
According to him, the collaboration will prioritize technology transfer, innovation, and local capacity building to boost clean energy adoption, climate-smart agriculture, and resilient infrastructure nationwide.
The minister emphasized that the framework aligns with Nigeria’s commitments under the Paris Agreement and its Energy Transition Plan, adding that it would help the country reduce emissions while stimulating economic growth.
With the new Carbon Market Framework in place, Nigeria is set to transform climate action into economic opportunity—creating jobs, attracting foreign investment, and driving long-term sustainable development for millions of citizens.
NTA Network News