Nigeria has officially launched its Carbon Market Framework, marking a major step in the country’s climate action agenda and positioning it as a key player in the global green economy. The announcement was made during the Abu Dhabi Sustainability Week, a leading international platform for climate innovation and investment.
The National Council on Climate Change (NCCC), led by Director General, Mrs. Omotenioye Majekodunmi, said that the framework establishes a clear regulatory and institutional structure for carbon trading in Nigeria. This structure enables both local and international investors to fund and develop climate-smart projects, earning carbon credits while promoting sustainable development.
Mrs. Majekodunmi hailed the development as a signal that Nigeria is now open for climate business, noting that the carbon market alone could attract over $3.8 billion in annual investment.
For the Minister of Environment, Balarabe Abbas Lawal, Nigeria’s active participation at Abu Dhabi Sustainability Week reflects the Federal Government’s commitment to deepening international partnerships, particularly with the UAE, while prioritising technology transfer, innovation, and local capacity building to strengthen clean energy, climate-smart agriculture, and resilient infrastructure nationwide.
With this framework, Nigeria is set to turn climate action into economic opportunity, creating jobs, attracting investment, and driving sustainable development across the country.
Meanwhile, the Carbon Market Association of Nigeria (CMAN) has lauded the official launch of Nigeria’s Carbon Market Framework, describing the development as a historic milestone that will position Nigeria as a credible, rules-based, and investable destination within the global carbon economy.
In a statement endorsed by Horsfall Tony, President, Carbon Market Association of Nigeria (CMAN), the organisation commended the National Council on Climate Change (NCCC), under the leadership of its Director General, Mrs. Tenioye Majekodunmi, and the Minister of Environment, Malam Balarabe Abbas Lawal, for advancing Nigeria’s climate leadership and international engagement.
To unlock the full potential of this landmark framework, it is important that government actively supports, showcases, and where possible, de-risks a pipeline of high-quality, viable and already advanced carbon projects that can serve as initial national flagship initiatives, stated CMAN.
The organisation added that early national flagship projects with robust MRV systems – that clearly align with national regulations, and strong community trust – will overall catalyse Nigeria’s participation in the international carbon markets, attract private capital at scale, and anchor confidence in Nigeria’s carbon market.
CMAN stated: “As implementation progresses, sustained sensitisation and coordination across ministries, departments, agencies, and sub-national governments will be critical. A supportive Carbon Market Office – the framework provides for – that issues timely project approvals, runs an operational registry, and carries out targeted capacity building for local developers and host communities will help ensure that Nigeria’s carbon market grows with integrity, inclusiveness, long-term credibility and catalyses global net zero attainment.
“With projected annual investment potential of about $3.8 billion and strong early investor interest, Nigeria’s carbon market offers significant opportunities for job creation, technology transfer, community development, and sustainable growth across sectors including clean energy, forestry, agriculture, clean cooking, and resilient infrastructure.
“As the industry association of all carbon market stakeholders in Nigeria, CMAN stands ready to work closely with the NCCC and all relevant institutions to support effective implementation, promote market integrity, strengthen investor confidence, and align carbon market growth with Nigeria’s national development, climate objectives and global net zero pathways. “Together, let’s continue to do more to reinforce Nigeria’s leadership in catalyzing climate action through carbon markets.”