Abuja, Nigeria – The Africa Social Impact Summit (ASIS) has highlighted Nigeria’s efforts to strengthen its climate finance market, attracting collaboration between government and private sector to unlock climate finance at scale.
The Senior Special Assistant to the President on Climate Finance & Stakeholder Engagement, Hon. Ibrahim A. Shelleng, emphasized that ASIS is catalyzing collaboration to address the challenge of aligning private capital with public policy.
“The appetite from the private sector is there; however, the private sector needs to see where government direction is headed” – Shelleng noted.
Nigeria has introduced two critical instruments: the carbon market activation framework and the Climate Change Fund. The carbon market framework provides investors with clear structures, timelines, and documentation, while the Climate Change Fund offers flexibility for different investor profiles.
These frameworks were developed through an iterative process involving over 200 organizations, ensuring market responsiveness.
Shelleng emphasized that addressing climate challenges requires coordination across all sectors, with ASIS bringing together government, private sector, civil society, and international partners to solve for bankable project pipelines and risk mitigation structures.
Africa needs over $20 billion annually to meet national climate goals, and Nigeria is positioning itself to lead the continent’s climate finance mobilization.
The country’s approach demonstrates that climate finance isn’t about choosing between public or private capital, but about creating policy clarity and institutional mechanisms for both to flow efficiently.
Source: www.climatewatchonline.com
