Nigeria Launches $337 Billion Climate Initiative Steering Committee

Nigeria's federal government has inaugurated an inter-ministerial steering committee to coordinate the implementation of the country's Nationally Determined Contribution 3.0 (NDC 3.0), Net-Zero Investment Plan, and Long-Term Low-Emissions Development Strategy. This initiative is part of Nigeria's ambition to cut emissions by 32% by 2035 and achieve net-zero emissions by 2060, requiring an estimated $337 billion over the next decade.

Mrs. Tenioye Majekodunmi, Director-General of the National Council on Climate Change (NCCC), stated that the financing needs from 2026 to 2035 include approximately $195 billion for emissions mitigation and $141.5 billion for adaptation. The committee aims to develop credible investment pipelines, attract both domestic and international private capital, and integrate climate priorities into national planning.

Senator George Akume, Secretary to the Government of the Federation, emphasized the need for climate commitments to yield measurable benefits for Nigerians, urging the integration of climate considerations into policies and budgets.