FG Moves to Activate Climate Change Fund, Aligns Finance with Green Agenda

FG Moves to Activate Climate Change Fund, Aligns Finance with Green Agenda

JOEL OLADELE, Abuja

In a move towards addressing climate change, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, yesterday in his office in Abuja, met with the Director-General of the Nigeria Climate Change Council (NCCC), Dr. Nkiruka Madueke, to advance efforts to operationalize the country’s Climate Change Fund (CCF)

According to the Director, Information and Public, Ministry of Finance, Mohammed Manga, the meeting focused on aligning Nigeria’s economic planning with its climate commitments, including the push towards net-zero emissions and the delivery of third-generation Nationally Determined Contributions (NDCs).

Dr. Madueke emphasised the urgency of unlocking the Climate Change Fund, which remains under-resourced, to finance critical climate initiatives and enable regulatory functions under the Climate Change Act.

She called for firm backing from the Ministry, noting expressions of interest from the Nigeria Sovereign Investment Authority (NSIA), Bank of Industry (BOI), and Development Bank of Nigeria (DBN) to manage the Fund, while also highlighting that additional NCCC priorities include climate finance taxonomy, carbon market development, and mangrove conservation.

Edun pledged support, noting the importance of integrating climate resilience into Nigeria’s development strategy. He encouraged the submission of a clear budget and project framework to fast-track collaboration and attract green investment.

Manga added in the statement that; “As the Federal Government moves to activate the Climate Change Fund, Nigeria is poised to unlock a new era of climate resilience and sustainable development.

“With the Fund’s activation, the country can expect to see a surge in green investments, the creation of new jobs, and a significant reduction in carbon emissions. The future of Nigeria’s climate action has never looked brighter, and this move is a significant step towards achieving the country’s net-zero emissions goal.