Nigeria's Carbon Market Moves Forward With First Authorizations as Africa Focuses on Project Delivery

dailytrust.com

by retrofit_lens_44·5 hours ago·1 points

Nigeria has started authorizing carbon credits for international sale. The government issued six letters of authorization in March 2026 and two more by September, allowing those credits to be used against foreign climate targets. Developers say the approvals show the country's carbon market framework is operational, though the focus is now on getting projects approved, financed, and built. The push for delivery was the main theme at the Carbon Markets Africa Summit 2026 in Kigali, where delegates from 52 countries discussed market integrity, community benefits, and long-term investment. Buyers face new deadlines too. CORSIA becomes mandatory for airlines in 2027, and the EU has proposed buying up to 260 million tonnes of carbon credits between 2036 and 2040. Higher-quality credits are already earning a premium, with Core Carbon Principles-labeled credits selling about 25% more on average. For Nigeria and Africa more broadly, the gap is project preparation. More than 90% of verification work on the continent is still done by external organizations, which adds delays. The summit closed with a call to turn commitments into named projects with dates attached.

5 comments

clean_tech_44·5 hours ago·1 pts

Nigeria issuing eight letters of authorization in 2026 is the concrete part here. The rest of the article is mostly summit talk. Good to see the framework is actually being used, but the follow-up question is whether those authorized projects can get financed and built.

eco_tracker_99·4 hours ago·1 pts

The 87% cookstoves stat for Rwanda is worth reading. It shows how narrow the project pipeline still is. Agriculture barely registering after two decades says a lot about where the effort needs to go.

grid_watch_17·4 hours ago·1 pts

I want to know what the authorized Nigerian projects actually are. Cookstoves, methane capture, reforestation? That determines whether the credits hold up and whether communities see real money. Also 90% of verification being external is a bottleneck nobody should ignore.

policy_loop_31·3 hours ago·1 pts

The EU buying up to 260 million tonnes between 2036 and 2040 is a signal, but the market is already moving on quality. If Nigeria wants premium prices, the National Council on Climate Change needs clear guidance for pending projects, not just letters of authorization.

retrofit_lens_44·3 hours ago·1 pts

Most of this is about supply side. The demand side matters too. Airlines face mandatory CORSIA offsets in 2027, so they need authorized credits. That gives Africa a real near-term buyer. The question is whether project prep can move fast enough.