CODE Warns of Nigeria's Climate Funding Accountability Gap

CODE, led by CEO Hyeladzira Mshelia, has released its 2025 annual report highlighting a significant climate funding gap in Nigeria. The report indicates that Nigeria has received $4.928 billion in climate finance over the past seven years, yet 75% of this amount consists of loans.

This reliance on loans is seen as detrimental to long-term climate action, as the country faces an estimated annual need of $177.7 billion to meet its climate targets and resilience goals. The report tracks public spending and development outcomes across 12 African countries, covering various sectors including education and health.

It calls for stronger transparency systems and civic participation, urging for urgent reforms to enhance accountability in climate financing. CODE also plans to train 100 community members in the petroleum industry to boost local capacity and demand accountability from oil firms and government institutions ahead of the 2027 elections.