President Bola Ahmed Tinubu has urged world leaders to demonstrate unity, courage, and unwavering commitment in the fight against the escalating global climate crisis, reaffirming Nigeria’s dedication to sustainable development and green economic growth.
Speaking during a high-level virtual dialogue on climate action and the just transition, co-hosted by United Nations Secretary-General António Guterres and Brazilian President Luiz Inácio Lula da Silva, President Tinubu emphasized that climate action must go hand-in-hand with economic progress.
“The global climate emergency demands our collective, courageous, and sustained leadership. For Nigeria, climate action is not a barrier to development, but a strategic imperative,” Tinubu declared.
The meeting, held ahead of the pivotal COP30 climate summit scheduled for Brazil, brought together leaders from 17 countries, including China, members of the European Union, climate-vulnerable nations, and key regional blocs such as the African Union, ASEAN, and the Alliance of Small Island States. Together, they sent a unified message: global climate action is accelerating, and there’s no turning back.
Nigeria’s Roadmap to Net-Zero by 2060
President Tinubu spotlighted Nigeria’s Energy Transition Plan (ETP) — a bold, pragmatic strategy aimed at achieving net-zero emissions by 2060. The ETP targets five priority sectors: power, cooking, transportation, oil and gas, and industry. To meet these ambitious goals, Nigeria estimates a financing requirement exceeding $410 billion by 2060.
“We are aligning our regulatory frameworks, fiscal incentives, and institutional systems to ensure energy access, decarbonisation, and economic competitiveness advance in unison,” Tinubu explained.
The President also reaffirmed Nigeria’s leadership in the Mission 300 initiative — an ambitious project in partnership with the World Bank and African Development Bank to deliver electricity to 300 million Africans by 2030.
Expanding Clean Energy Access and Market Reforms
Tinubu highlighted Nigeria’s National Energy Compact, presented earlier this year under the Dar es Salaam Declaration. The compact outlines comprehensive reform commitments, investment opportunities, and measurable targets to expand clean energy access and improve clean cooking solutions across the nation.
In a significant policy announcement, President Tinubu revealed that Nigeria would finalise its Carbon Market Activation Policy by March 2025, aiming to unlock up to $2.5 billion in high-integrity carbon credits and related green investments by 2030.
“Our climate strategy is not just about regulation — it is rooted in bold market reforms,” he added. Plans are underway to update Nigeria’s Nationally Determined Contributions (NDCs) in line with the UN Framework Convention on Climate Change, with a comprehensive revision due by September 2025.
A Global Investment Hub for Climate-Smart Solutions
To attract both public and private capital into the green economy, Nigeria is developing a Global Climate Change Investment Fund. This platform will finance critical national priorities, including green industrial hubs, electric mobility infrastructure, regenerative agriculture, and renewable energy mini-grids for underserved communities.
President Tinubu expressed gratitude to international partners such as the United Nations and Sustainable Energy for All (SEforALL) for their technical support and collaboration.
“These partnerships showcase the power of multilateral cooperation. Nigeria stands ready to collaborate, lead, and deliver, because the time for climate action is not tomorrow — it is now,” he concluded.