President Bola Ahmed Tinubu has approved the adoption of a National Carbon Market Framework and the operationalisation of the Climate Change Fund. This initiative aims to unlock up to $3 billion annually in carbon finance as Nigeria prepares for the 30th United Nations Climate Change Conference (COP30) in Brazil.

The approval, granted at the second meeting of the National Council on Climate Change (NCCC) held Thursday evening at the Presidential Villa, Abuja, signalled a major step in the administration’s bid to position Nigeria as a key player in the global carbon economy.

Vice President Kashim Shettima, who chaired the meeting on behalf of the President, said the decision underscores Nigeria’s determination to fully leverage emerging opportunities in international carbon markets while driving climate-resilient investments across the economy.

In a statement on Friday by Senior Special Assistant to the President on Media and Communications Office of the Vice President Stanley Nkwocha, Tinubu said: “Addressing climate change is not just an environmental imperative but an opportunity to unlock new investments, jobs and innovations across the nation’s energy, agriculture and industrial sectors.

“Nigeria stands ready to take its rightful place as a global leader in climate action, ensuring that our voice and our reality are heard and respected in international negotiations.”

With the approvals, Nigeria aims to tap between $2.5 billion and $3 billion annually in carbon credits over the next decade, funding mitigation and adaptation programmes and boosting green-economy initiatives nationwide.

Tinubu also outlined Nigeria’s agenda ahead of COP30 in Belém, Brazil, stressing that the country will prioritise international partnerships for financing climate-resilient infrastructure and adaptation programmes.

“We will continue to champion policies that protect our people, strengthen our economy and position Nigeria as a destination for green investment and innovation,” he said.

The President reaffirmed that climate action remains central to his development agenda, vowing sustained support for policies that cushion vulnerable communities and scale clean-energy adoption.

Director-General of the NCCC, Mrs. Omotenioye Majekodunmi, said the council’s timely deliberations would strengthen Nigeria’s standing ahead of COP30 and enhance its ability to mobilise international support.

She disclosed that Nigeria is now eligible to access new international climate finance windows, following ongoing reforms and international engagements.

Majekodunmi added that the operationalisation of the Climate Change Fund would ensure immediate readiness to attract, receive and deploy climate investment.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, endorsed the council’s proposals, stating that Nigeria must secure strategic competitiveness in the expanding global carbon market.

He pledged full support from the Finance Ministry, including a quarterly climate-finance tracking dashboard to ensure transparency and optimisation of green funding.

The NCCC Secretariat reaffirmed its commitment to delivering the technical leadership required to translate national climate ambitions into measurable actions, assuring stakeholders of continued coordination across ministries and tiers of government.