Nigeria Commits $3 Billion Annually for Climate Finance at COP30

Nigeria, represented by Vice President and Senator Kashim Shettima at COP30 in Brazil, announced plans to mobilize $3 billion annually in climate finance. Shettima highlighted Nigeria's climate strategy rooted in restoring natural balance for economic resilience.

The country aims to position itself as a leader in investing across the Global South, advocating for increased grant-based financing and innovative debt-for-nature swaps. Shettima emphasized the importance of nature-based solutions and legal obligations to combat climate change, rejecting the portrayal of Africa as a passive victim.

Nigeria seeks to unlock private capital for reforestation, ecosystem restoration, and blue economy development in Africa. Additionally, President Bola Tinubu revealed plans to unlock $2.5 billion in high-integrity carbon credits by 2030.