To address its estimated $15 billion annual climate funding shortage, Nigeria needs robust institutional frameworks as well as resources to design, implement, and monitor its climate investments.
According to Mrs. Omotenioye Majekodunmi, Director General (DG) of the National Council on Climate Change (NCCC), this is because one of the inherent characteristics of climate finance is that it requires that society and the government have to work together to guarantee accountability and transparency in the use of the funds.
Speaking at a two-day workshop held in Abuja on Tuesday, September 23, 2025, and hosted by the NCCC in partnership with NIRSAL, the DG expressed her displeasure with the low amount of money flowing into Africa to tackle climate change issues. She was represented by Mrs. Bennie Ejiofor, one of her officers, who said that the continent was only able to secure less than 4% of the $1.3 trillion global climate finance flows.
“As the continent’s 4th largest economy, Nigeria must build the institutional muscle to capture a greater share,” she stated, explaining why her organisation organised the workshop to assess Nigeria’s capacity needs and improve institutional readiness for climate finance.
This is crucial because, as the DG elaborated, understanding these needs is more than just getting money; it’s about transforming Nigeria’s economy, creating green jobs, strengthening resilience, and ensuring a competitive, climate-resilient future for future generations.
The NCCC boss described the collaboration between her establishment and NIRSAL as a clear example of the innovative partnerships necessary across the finance value chain. This collaboration addresses three critical areas: institutional capacity, financial architecture, and project development.
In her remarks regarding the Green Climate Fund (GCF), Mrs. Majekodunmi intimated that the Development Bank of Nigeria’s accreditation and the Bank of Industry’s recent accreditation with the Adaptation Fund are all geared towards helping Nigeria attract more global funding.
The GCF, she added, has played a crucial role in supporting Nigeria’s climate initiatives across various sectors, particularly in contributing to the development of regional climate-resilient programmes and green financing initiatives, which are essential to ultimately achieve our Nationally Determined Contributions (NDC).
In the same vein, Abubakar Ahmed, manager of Climate Smart Agriculture at NIRSAL, emphasised the importance of strong institutional frameworks, technical competence, and coordinated action in attracting resources to implement Nigeria’s climate priorities, including NDCs.
He said that to effectively mitigate and adapt to the impacts of climate change, Nigeria must be positioned to mobilise, access, and deploy climate finance at a larger scale.
Ahmed went on to assert that the discussions and inputs from the capacity engagement are very crucial in determining how Nigeria positions itself to international climate finance mechanisms, not only as a recipient of funding but also as a nation prepared to allocate resources efficiently, openly, and with the greatest possible impact.
“We see this workshop as a platform to align stakeholders, share knowledge, and create pathways for stronger collaboration across MDAs and institutions,” he stated.
In his presentations, Agbo Chinonso, the technical lead and senior climate finance expert, stressed the significance of a common understanding of Nigeria’s climate finance needs, opportunities, and enhanced institutional capacity for climate finance access and management.
Among other shortcomings, he accented that financial institutions need capacity, climate risk pricing, and green financing tools. For better preparedness, he called for increased cooperation amongst important parties.
By Etta Michael Bisong, Abuja