Nigeria needs $337bn to meet climate targets, as FG sets up steering committee
- The government on Thursday inaugurated a committee to coordinate its climate plans, including NDC 3.0.
- The National Council on Climate Change says about $337 billion is needed between 2026 and 2035.
- Officials say success will be judged by projects delivered, not meetings held or documents produced.
Nigeria will need roughly $337 billion over the next ten years to meet its climate promises, the National Council on Climate Change (NCCC) has said, as the Federal Government moves to coordinate how those plans are carried out.
On Thursday in Abuja, the government inaugurated an inter-ministerial steering committee to oversee three linked plans: the Nationally Determined Contribution 3.0 (NDC 3.0), the Net-Zero Investment Plan and the Long-Term Low-Emissions Development Strategy.
The NDC is Nigeria's formal pledge under the global climate agreement. The current version targets a 32 per cent cut in emissions by 2035 and net-zero emissions by 2060.
Where the money is meant to go
NCCC Director-General Mrs Tenioye Majekodunmi put the financing need for 2026 to 2035 at about $337 billion. Of that, roughly $195 billion is for cutting emissions and about $141.5 billion for adapting to climate effects already affecting the country.
She said the money, if raised, could create jobs and make the economy more resilient, especially in energy, agriculture and infrastructure.
Her immediate focus, she said, is building a pipeline of credible projects, using public and concessional finance wisely, drawing in private investors at home and abroad, and giving investors the policy certainty they need.
The committee, she added, should be judged by the barriers it clears, the investment it attracts and the results it delivers, not by how often it meets. The NCCC will serve as its technical secretariat, handling coordination, analysis, progress tracking and work with development partners.
Secretary to the Government of the Federation Senator George Akume, represented by his technical adviser Prof. Babatunde Bernard, said climate work can no longer sit with the environment ministry alone, given its links to food security, infrastructure, public health, water, coastal communities and livelihoods.
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 urged states and the Federal Capital Territory Administration to fold climate concerns into farming, transport, urban planning, waste management and infrastructure, and said the shift to lower emissions must still expand access to affordable, reliable energy and protect vulnerable communities.
Why projects stall
The United Nations Development Programme (UNDP) said poor project preparation is a major reason private money stays away from Nigeria's climate plans. Its resident representative, Ms Elsie Attafuah, said many viable projects remain unfunded because they lack solid feasibility studies, believable business models, clear delivery arrangements or suitable financing.
She said clean, reliable energy can help businesses produce more, while climate-smart farming can protect farmers' incomes and food supply. She also called for transparent carbon markets, credible emissions measurement and a dependable national carbon registry to build investor confidence.
Attafuah added that affected communities, including women, young people and farmers, should be involved from the start, since changes in technology, land use or jobs can hit livelihoods.
The launch comes weeks before COP31, the global climate summit, opens in Antalya, Türkiye, where Nigeria hopes to build partnerships around its priorities.
What happens next: The test is whether the new committee turns the targets into costed programmes, gets projects ready for investors and finds the money to fund them.
