Nigeria’s ambition to cut emissions by 32 per cent by 2035 and achieve net-zero emissions by 2060 will require an estimated $337 billion in financing over the next decade, putting pressure on the Federal Government to mobilise investment and translate climate commitments into measurable results.
To address the challenge, the government on Thursday inaugurated an interministerial steering committee to coordinate the implementation of the country’s Nationally Determined Contribution 3.0 (NDC 3.0), the Net-Zero Investment Plan and the Long-Term Low-Emissions Development Strategy.
The Director-General of the National Council on Climate Change (NCCC), Mrs. Tenioye Majekodunmi, disclosed that the financing requirement for 2026 to 2035 comprised approximately $195 billion for emissions mitigation and $141.5 billion for adaptation.
She described the funding requirement not merely as a financing gap but also as an opportunity to attract investments into energy, agriculture, infrastructure and other sectors capable of generating jobs, strengthening economic resilience and supporting Nigeria’s development priorities.
Majekodunmi said the immediate task was to develop credible investment pipelines, deploy public and concessional finance strategically, attract domestic and international private capital, and establish the policy certainty required to encourage investors.
She stressed that the newly inaugurated steering committee must provide high-level coordination, integrate climate priorities into national planning and budgeting, mobilise finance and resolve implementation bottlenecks that individual ministries could not address independently.
According to her, the committee’s effectiveness should be measured by the barriers it removes, the investments it unlocks and the results it delivers, rather than the number of meetings it holds.
The committee is expected to bring together relevant ministries and institutions whose decisions on finance, energy, agriculture, transportation, industry and other sectors will determine the implementation of Nigeria’s climate commitments.
The NCCC will provide technical secretariat support, including coordination, analysis, implementation tracking and engagement with development partners.
In a keynote address, the Secretary to the Government of the Federation (SGF), Senator George Akume, said climate commitments must translate into measurable benefits for Nigerians, urging ministries, departments and agencies to integrate climate considerations into their policies, budgets and investment decisions.
Akume, who was represented by Prof. Babatunde Bernard, a Nigerian scientist, environmental scholar and Technical Adviser to the SGF, said the country must move beyond policy announcements to tangible results.
“We must therefore judge success by implementation, not announcements; by measurable outcomes, not intentions; and by the benefits delivered to our citizens, not documents produced,” he said.
The SGF said climate change could no longer be treated as the exclusive responsibility of the environmental sector because of its far-reaching implications for food security, infrastructure, public health, water resources, coastal communities and livelihoods.
He called for stronger collaboration among federal and state governments, the private sector, financial institutions, research bodies and international development partners to ensure that climate priorities were reflected in practical programmes and investment decisions.
Akume also urged state governments and the Federal Capital Territory Administration to incorporate climate considerations into agriculture, transportation, urban development, waste management, infrastructure and community resilience.
He maintained that Nigeria’s transition to a low-emissions economy must reflect its development circumstances, including the need to expand access to affordable and reliable energy, create jobs, strengthen industrial capacity and protect vulnerable communities.
Meanwhile, the United Nations Development Programme (UNDP) has identified the preparation of investment-ready projects as a critical requirement for Nigeria to attract the funding needed to implement its climate action plan.
The UNDP Resident Representative in Nigeria, Ms. Elsie Attafuah, said many potentially viable private-sector initiatives remained unfunded because they lacked adequate feasibility studies, credible business models, clear delivery arrangements or appropriate financing instruments.
She stressed that preparing projects to meet investors’ requirements was essential to mobilising private capital, particularly for initiatives that promise substantial public benefits but may not generate sufficient commercial returns on their own.
Attafuah’s remarks highlighted the need to combine private investment with domestic public resources and international climate finance, especially for adaptation projects whose benefits might not translate directly into financial returns.
She noted that reliable clean energy could help businesses improve production, while climate-smart agriculture could protect farmers’ incomes, strengthen food security and improve resilience to extreme weather.
Such investments, she said, could also support more competitive businesses, healthier communities and a more resilient economy.
The UNDP representative further underscored the importance of transparent carbon-market systems, credible emissions measurement and reporting, and a reliable national carbon registry in strengthening accountability and investor confidence.
Support for developing Nigeria’s national carbon-market registry was cited as part of efforts to establish the systems needed to track climate-related transactions and verify results.
She also stressed that climate projects must respond to local needs and involve the communities expected to live with their consequences.
Women, young people, farmers and other affected groups, she said, should participate from the outset, particularly where changes in technology, land use or employment could affect livelihoods and access to economic opportunities.
State governments were also identified as essential to implementation because decisions on land, infrastructure and public services directly influence climate resilience. The NCCC’s engagement with states is intended to connect their development priorities with technical assistance, investment opportunities and practical implementation programmes.
Nigeria’s NDC 3.0 outlines mitigation measures across energy, industry, agriculture, forestry and land use, waste and other sectors, alongside adaptation priorities covering food systems, water, health, coastal and urban areas, and disaster-risk management.
The Federal Government has also launched the Net-Zero Investment Plan and the Long-Term Low-Emissions Development Strategy to align immediate climate commitments with the country’s long-term economic transformation.
The launch comes weeks before the global climate community gathers in Antalya, Türkiye, for COP31, offering Nigeria an opportunity to pursue partnerships and mobilise support around its national climate priorities.
However, the immediate test will be whether the newly inaugurated committee can translate the country’s targets into costed programmes, prepare projects capable of attracting investment and secure financing on the scale required.
Ultimately, the success of NDC 3.0 will depend not only on reducing emissions but also on whether climate investments strengthen resilience, improve energy access, protect livelihoods, create jobs and deliver tangible benefits to Nigerians.
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