Stakeholders in Nigeria's carbon market are calling for domestic financing to replace slow international funding cycles. Under the PRISM initiative, officials and industry groups met in Abuja to discuss integrating carbon revenues into Nigeria's banking, capital market, pension, and insurance frameworks. The goal is to treat carbon credits as a recognized asset class that can attract local capital for clean cooking, distributed renewable energy, and nature based projects. Ibrahim Shelleng, the President's senior adviser on climate finance, said domestic funding brings ownership and speed compared to waiting years for international validation. Nigeria has already issued 8 Letters of Authorisation since May, a step toward monetizing carbon assets. The Clean Cooking Alliance stressed that better data and monitoring systems are needed to build investor confidence. The PRISM initiative, which previously ran in Kenya, aims to integrate carbon revenues into Nigeria's financial system and could impact around 45 million people by 2030.
