The proposed issuance would build on Nigeria’s earlier forays into sustainable finance and reflects growing efforts by African governments to tap local capital markets for climate funding.
He said the proceeds are expected to be directed towards projects supporting environmental sustainability and climate resilience.
His revelation comes after President Bola Tinubu earlier this week said his government was seeking to unlock an ambitious $25–$30 billion annually in climate finance.
Speaking at the Abu Dhabi Sustainability Week summit on Tuesday, Mr Tinubu said Nigeria was betting on green finance to drive its energy transition, unveiling plans for a $2 billion climate fund, saying oversubscribed green bonds were proof of investor appetite.
He said previous Nigeria’s green bond programme had drawn strong investor interest. A N50 billion sovereign green bond issued in 2025 attracted N91 billion in subscriptions, while Lagos State’s green bond was oversubscribed by nearly 98 per cent.
The President also said Nigeria’s Climate Investment Platform aimed to mobilise $500 million for climate-resilient infrastructure, while the National Climate Change Fund is targeting a $2 billion capitalisation to back projects that cut emissions and boost resilience.
The Nigerian leader said a new Climate and Green Industrialisation Investment Playbook would aid private investors and other stakeholders navigate manufacturing policy and the regulatory landscape.
This builds on past initiatives including the Nigeria Sovereign Investment Authority’s $500 million Distributed Renewable Energy Fund, launched in March 2025 to catalyse local financing.
“These reforms show Nigeria is ready for business,” the president said, adding that non-oil exports have grown by 21 per cent and investment commitments now exceed $50 billion across key sectors.
