Nigeria has officially launched its Carbon Market Framework during the ongoing Abu Dhabi Sustainability Week (ADSW 2026), signaling a major advancement in the country's climate action strategy and its ambition to become a significant player in the global green economy.
The announcement, highlighted by President Bola Ahmed Tinubu in his address to world leaders and investors, builds on the National Carbon Market Framework approved in October 2025.
It establishes clear rules for carbon credit registration, issuance, verification, and trading, supported by the National Carbon Market Activation Policy (NCMAP) and the launch of a National Carbon Registry to enhance emissions reporting and transparency.
The National Council on Climate Change (NCCC), led by Director General Mrs. Omotenioye Majekodunmi (also referred to as Tenioye Majekodunmi), described the framework as providing a robust regulatory and institutional structure.
This enables local and international investors to finance and implement climate-smart projects across sectors like renewable energy, clean cooking, reforestation, climate-smart agriculture, and sustainable infrastructure, while generating carbon credits.
Mrs. Majekodunmi hailed the launch as a clear message that "Nigeria is now open for climate business," projecting that the carbon market could attract over $3.8 billion in annual investment.
President Tinubu emphasized the initiative's potential to unlock between $2.5 billion and $3 billion annually over the next decade, positioning climate action as a key driver of economic growth and sustainable development.
Minister of Environment Balarabe Abbas Lawal underscored Nigeria's commitment to strengthening international partnerships, particularly with the UAE, through active participation at ADSW.
He highlighted priorities such as technology transfer, innovation, and building local capacity to advance clean energy, resilient infrastructure, and climate-smart agriculture nationwide.
The framework, combined with other measures like the operationalization of a $2 billion Climate Change Fund, positions Nigeria to transform climate commitments into tangible economic opportunities, including job creation and substantial inflows of green finance ahead of future global climate goals.
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