Nigeria Launches Net Zero Investment Plan to Drive Climate Finance

News in Brief

—Nigeria has launched its Net Zero Investment Plan in Abuja to attract climate finance, support sustainable economic growth and move toward net-zero emissions by 2060.

—The plan focuses on key sectors such as power, agriculture, transport, waste, industry and domestic energy, while also seeking stronger private-sector participation and international support.

The Federal Government has launched its Net-Zero Investment Plan in Abuja, setting out a roadmap to attract climate finance, support private-sector investment and push Nigeria closer to its 2060 net-zero emissions target. 

The comprehensive strategy plan to achieve net-zero greenhouse gas emissions by 2060 was unveiled by the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, with support from German partners, including the German Embassy, GIZ and KfW.

Push for Net-Zero and Climate Conscious Finance

In a statement issued by the Ministry of Budget and Economic Planning on Wednesday, Senator Bagudu said the plan, which Nigeria is firmly committed to, reflects Nigeria’s resolve to balance environmental protection with economic growth.  

The minister reflected on lessons from past environmental challenges, including resource-related damage in Ogoniland, and noted that Nigeria has now developed the regulatory frameworks, technology, and knowledge to ensure sustainable resource and agricultural development.

He highlighted recent engagements with the German delegation, including agreements to mobilise long-term financing and leverage €71 million in contributions, as well as a €300 million credit guarantee, underscoring the importance of strategic, sustainable funding for Nigeria’s climate and development ambitions.

Private Sector Focus

Bagudu said Nigeria’s budget and investment reforms are intended to de-risk projects and make it easier for businesses to commit capital to productive ventures. He argued that climate policy should be tailored to Nigeria’s realities, especially in areas where agriculture, energy and industry require growth alongside emission reduction efforts.

The Net Zero Investment Plan is expected to support bankable projects across key sectors, including power, agriculture, waste management, transport, industry and domestic energy. This direction mirrors Nigeria’s wider energy transition strategy, which links climate action to industrialisation, job creation and inclusive development.

Germany’s Support

Dr Karin Jansen, Head of International Cooperation at the German Embassy, described the plan as a Nigerian-led initiative built around national priorities. She said Germany was proud to support the effort through funding and technical cooperation under the International Climate Initiative.

Jansen said the real value of the plan would depend on implementation and its ability to turn policy into investable projects with measurable impact for communities. She added that the partnership between Nigeria and Germany could help unlock investment in renewable energy, energy efficiency and emissions reduction.

Germany’s wider development cooperation with Nigeria already covers climate-neutral growth, agriculture, renewable energy and support for small and medium-sized enterprises. That background gives the NZIP a broader platform for mobilising finance and technical support.

Green Economy Agenda

Other speakers at the launch, including Dr Iniobong Abiola-Awe, Director of the Department of Climate Change at the Ministry of Environment, emphasised the need to integrate the plan into Nigeria’s national development process. They said the framework should help coordinate climate investments across sectors and strengthen implementation.

The plan also prioritises inclusion for women, youths and small businesses, signalling an attempt to ensure that the green economy benefits a wider group of Nigerians. For agriculture stakeholders, the plan could support cleaner energy use, climate-smart production systems and investments that improve resilience in food systems.