In a bold step to integrate sustainability into Nigeriaโs economic framework, The Federal Government has said that it is committed to fully operationalising the Climate Change Fundโa pivotal financial vehicle aimed at advancing the countryโs green transition and climate resilience goals.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun made this known during a high-level meeting in Abuja with the Director-General of the Nigeria Climate Change Council (NCCC), Nkiruka Madueke.
The meeting focused on aligning climate finance with Nigeriaโs broader economic and development strategy.
Central to the discussions was the need to unlock and deploy the underutilised Climate Change Fund to finance critical climate action projects that will support Nigeriaโs net-zero emissions target and the implementation of its third-generation Nationally Determined Contributions.
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Madueke emphasised that the activation of the CCF is crucial to fulfilling the mandates of the Climate Change Act, especially in financing mitigation, adaptation, and regulatory efforts to combat climate change.
She urged the Ministry of Finance to take concrete steps toward disbursing the fund, highlighting that financial institutions like Nigeria Sovereign Investment Authority, Bank of Industry, and the Development Bank of Nigeria have shown keen interest in managing the fund to drive climate-focused investments.
Story was adapted from Punch.
