Nigerians have been encouraged to come up with bankable projects that meet the Green Climate Fund’s (GCF) standards to improve the country’s access to funding for climate-related initiatives.

This call, according to a group of collaborators who met in Abuja on Tuesday, May 13, 2025, to brainstorm on how to address the problematic issue of climate finance, lamented that the nation is falling behind in obtaining funds for the implementation of climate action-driven activities.
The group, which consists of the Development Bank of Nigeria (DBN), Green Climate Fund (GCF), Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), and the National Council on Climate Change Secretariat (NCCCS), also talked about the expansion strategy for access entities (AEs), project assessment requirements, and the criteria for obtaining financing to accelerate the execution of green schemes across Nigeria.
Mr. Marcus Mayrfrom, GCF’s Senior Urban Sector Specialist, stated at the event that his organisation is happy to be a part of the cooperation, which aims to support Nigeria’s climate action pathways.
In addition to creating an investment platform to support the strategic implementation of initiatives, he said the GCF is also delighted to evaluate the needs and any tools and instruments needed to scale up climate action and country-specific programmes.
NIRSAL representative, Mr. Austin Ike, in his remarks, said his establishment has de-risked its activities within the agricultural sector to curb the threats of flooding, drought and other climate challenges on food production.
Similar to the previous speaker, he praised NIRSAL’s participation in the collaboration, especially given its nexus and ability to assist the country in addressing its energy and food security issues.
The Director-General of the National Council on Climate Change Secretariat (NCCCS), Dr. Nkiruka Maduekwe, in her speech, said that Nigeria is looking forward to having two entities accredited before the Conference of Parties (COP 30) to the United Nations Framework Convention on Climate Change (UNFCCC) that is coming up in Belem, Brazil, later in the year.
She added that the nation is working on presenting bankable projects during this conference to enhance its opportunities to tap into the various global climate finances.
Mr. Soji Omisore, from the Investment and Strategic Investment Division and former Deputy Director of Private Finance at the GCF, said that the GCF aims to work more with the private sector based on the mobilisation perspectives, ROI, opportunity costs and critical donor landscapes shaping the climate financing structure globally.
Furthermore, he hinted that GCF receives most funding from donors in the Global North, and the second replenishment, GCF-2 (spanning 2024-2027), raised roughly $12.8 billion in pledges from 31 countries, highlighting that they are very much focused on mitigation and adaptation projects; because for them, climate impact is non-negotiable.
“When we get approached in terms of funding projects, many people come to us thinking that if a project is financially viable, then something will be attractive. That is only one side of it. In a project that has co-benefits, the project that we consider must have a front and a centre in mitigation and adaptation,” he asserts.
As a result, he went on to say that they are flexible in the type of funds that they provide, which include debt, equity, grants and guarantees.
“The point we are trying to make is that we can tailor the financial needs of the projects within the context of that region of that project to meet the needs of the country and measure the impact. What we are looking to achieve is the output, and our funding is concessional,” Mr. Omisore concluded.
By Nsikak Emmanuel Ekere, Abuja