President Bola Ahmed Tinubu has approved the adoption of a National Carbon Market Framework, the operationalisation of the Climate Change Fund, and the restoration of the National Council on Climate Change (NCCC) to the national budget line.
Vice President Kashim Shettima disclosed this on Thursday at the Presidential Villa, Abuja, while representing the President during the second meeting of the National Council on Climate Change ahead of Nigeria’s preparations for the 30th United Nations Climate Change Conference (COP30) in Brazil.
According to Shettima, the measures aim to establish and manage Nigeria’s participation in global carbon markets, which could unlock between $2.5 billion and $3 billion annually in carbon finance over the next decade to support the nation’s climate goals.
He explained that the approvals followed a presentation by the Director-General of the NCCC, Mrs. Omotenioye Majekodunmi, during the council’s meeting.
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