Nigeria appears to have taken a landmark step in strengthening its emerging carbon market ecosystem as the Minister of Environment, Balarabe Abbas Lawal, on Tuesday, November 18, 2025, unveiled the Carbon Market Association of Nigeria (CMAN) at the Nigeria Pavilion during the 30th United Nations Climate Change Conference (COP30).
The unveiling of CMAN comes at a pivotal moment for the country, following the recent approval of Nigeria’s Carbon Market Framework – a national policy designed to guide the growth of a transparent, high-integrity, and economically viable carbon market capable of attracting global investments and positioning Nigeria as a leading carbon credit hub in Africa.
Speaking during the unveiling, the Minister emphasised that the establishment of CMAN would enhance coordination, strengthen capacity, and provide an enabling environment for Nigeria’s carbon market ecosystem to thrive.
“The establishment of the Carbon Market Association of Nigeria is a major milestone in our national climate and economic transformation agenda. As we accelerate the implementation of the Carbon Market Framework, this Association will play a critical role in providing support, sharing knowledge, and evolving best practices that ensure Nigeria becomes a hub for high-quality, high-integrity credits.
“I am therefore glad to unveil this important development in our country’s green transition and continuing economic development – the Carbon Market Association of Nigeria. I encourage stakeholders to get involved and help build a unified front to achieve our enormous carbon market potential, as it aligns with our administration’s efforts to meet Nigeria’s renewed climate goals while developing a whole new sector that connects global investment to local impact,” the Minister said.
Speaking at the event, Interim President of the Association, Horsfall Tony, presented CMAN’s foundational direction to the Minister, highlighting both the Vision and Mission driving the Association.
He stated that the Vision of CMAN is “to become and remain a vibrant and credible umbrella body and industry association for all carbon market sectors and stakeholders in Nigeria – recognised globally for supporting members and positioning Nigeria as a hub of high-integrity carbon credits that catalyses sustainable development, climate finance, net-zero attainment, and a just energy transition through collaboration, organizing, advocacy, and strategic partnerships.”
He emphasised that the Mission of CMAN is “to unite and empower all carbon market sectors and actors in Nigeria to shape collective climate policies and actions that accelerate the nation’s sustainable development objectives.”
The unveiling at COP30, according to Tony, underscores Nigeria’s rising leadership in global climate action and highlights the country’s commitment to leveraging carbon markets as a tool for economic diversification, climate finance mobilisation, nature-based solutions, clean energy deployment, and poverty reduction.
CMAN is expected to serve as a central platform to amplify Nigeria’s voice in international carbon market reforms, advance African-led climate solutions, and support high-quality carbon projects across forestry, renewable energy, clean cooking, blue carbon, and other emerging sectors critical to Nigeria’s climate and development agenda.