Nigeria Set for Carbon Trading as Framework Approved in Abu Dhabi

Nigeria has formally approved its Carbon Market Framework, a move that positions the country as an emerging force in the global climate economy and paves the way for billions of dollars in green investments. The framework was unveiled at the Abu Dhabi Sustainability Week in the United Arab Emirates.

The National Council on Climate Change (NCCC), under the leadership of its Director General, Mrs. Omotenioye Majekodunmi, explained that the framework provides a well-defined regulatory and institutional structure for carbon trading in Nigeria. This structure enables both domestic and international investors to initiate and fund climate-friendly projects while generating carbon credits.

Mrs. Majekodunmi described the approval as clear evidence that Nigeria is now fully open for climate-related business, noting that the carbon market alone offers more than $3.8 billion in potential annual investments. She added that opportunities cut across key sectors, including renewable energy, clean cooking, reforestation, climate-smart agriculture, and sustainable infrastructure.

She further disclosed that since the initial approvals granted in October, Nigeria has received between 3,000 and 4,000 applications for carbon-related projects, underscoring the strong interest in the country’s developing carbon market.

Also speaking, the Honourable Minister of Environment, Malam Balarabe Abbas Lawal, said Nigeria’s active presence at the Abu Dhabi Sustainability Week highlights the Federal Government’s commitment to strengthening international partnerships, particularly with the United Arab Emirates.

He stressed that such collaborations span renewable energy, sustainable finance, climate technology, and carbon markets, while also prioritising technology transfer, innovation, and local capacity development to boost clean energy systems, climate-smart agriculture, and resilient infrastructure across the country.