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FG Unveils $100m Carbon Project to Drive Nigeria’s Green Growth Agenda

FG Unveils $100m Carbon Project to Drive Nigeria’s Green Growth Agenda

The Federal Government has launched the $100 million Orteva Carbon Project, targeting climate finance, verifiable carbon credits and a faster transition to a sustainable, low-carbon economy.

Abuja, Nigeria
Nigeria green growth and carbon market initiative
Federal Government launches $100m carbon initiative to catalyze climate finance and generate carbon credits.

Wale Edun, Minister of Finance and Coordinating Minister of the Economy, announced the initiative in Abuja after receiving a delegation from Orteva, in partnership with the Delta State Government and Eighth Versa. According to a statement by Mohammed Manga, Director of Information and Public Relations at the Ministry of Finance, the project is designed to unlock climate finance, generate high-integrity carbon credits, and accelerate Nigeria’s transition to a sustainable economy.

Key Objectives

  • Unlock climate finance at scale for nature-positive and low-carbon projects.
  • Generate verifiable carbon credits through credible Measurement, Reporting and Verification (MRV) processes.
  • Support Nigeria’s green growth agenda and economic diversification.
  • Strengthen institutional capacity and transparency for carbon market governance.

Strategic Partnerships

  • Federal Government of Nigeria — policy direction and coordination.
  • Orteva — project development and climate finance mobilisation.
  • Delta State Government — sub-national implementation and land-use coordination.
  • Eighth Versa — technical support and market structuring.

Expected Impact

  • New revenue streams from high-quality carbon credits aligned with international standards.
  • Job creation in reforestation, ecosystem restoration, monitoring, and clean-tech services.
  • Improved climate resilience for communities through nature-based solutions.
  • Positive signal to investors on Nigeria’s commitment to a transparent, credible carbon market.
Why it matters: By combining climate finance with robust governance, the Orteva Carbon Project aims to position Nigeria as a leading African hub for high-integrity carbon credits while delivering local development benefits.

What’s Next

  • Frameworks for MRV, registries, and credit issuance to ensure integrity and market acceptance.
  • Pipeline development of nature-based and technology-based projects across eligible regions.
  • Stakeholder engagement with communities, civil society, and private investors for inclusive outcomes.
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