Nigeria is positioning its climate transition as a major economic opportunity, targeting nearly $350 billion in investments to reach net-zero by 2060. At the Nigeria Climate Investment Summit in London, officials highlighted the National Carbon Market Framework, which could unlock $2.5 to $3 billion annually in carbon finance over the next decade. The country also pointed to strong demand for its green bonds, with the 2025 Sovereign Green Bond oversubscribed by nearly double. Key sectors include renewable energy, clean cooking, electric mobility, climate-smart agriculture, and carbon markets. Nigeria's Electricity Act 2023 has opened state-level regulation for mini-grids and off-grid projects, and 15 states have already taken control of their electricity markets. The summit also promoted the proposed Nigeria Evergreen City as a hub for renewable tech and battery manufacturing. Africa currently attracts only about 2 percent of global renewable energy investment despite holding over 30 percent of the critical minerals needed for the energy transition. The article frames Nigeria's green push as similar to the telecom liberalization that created major industry leaders two decades ago, urging early investment in the country's emerging climate economy.
