President Bola Tinubu has called on the World Bank, International Monetary Fund (IMF) and African Development Bank (AfDB) to scale up financing for climate action.
Tinubu, represented by the Vice-President, Sen. Kashim Shettima, made the call at a Climate Submit during the 80th Session of the United Nations General Assembly (UNGA), in New York, United States of America.
The president stated that the climate emergency demands not just words, but courageous and sustained leadership.
Tinubu said Nigeria was mobilising $20 to $25 billion in climate finance by 2030, including green bonds, blended finance, and public-private risk-sharing mechanisms.
‘For Nigeria, a country acutely vulnerable to climate impacts, climate action is not a choice; it is an existential necessity.
“To mobilise resources, we have undertaken significant domestic reforms.
“We have simplified and modernised our tax laws to ease compliance, removed unproductive fossil fuel subsidies, reduced burdens on households and businesses, and enhanced revenue efficiency.
“At the same time, we are strengthening our business environment through legislation and policies that improve the ease of doing business.
“This is to attract private capital and expand opportunities for investment in clean energy and sustainable infrastructure.”
Tinubu said said in March 2025, Nigeria launched the Nigeria Carbon Market Activation Policy, which establishes a robust framework for high integrity emissions reductions.
He added, ‘While positioning Nigeria as a credible hub for Article 6, Voluntary and Compliance carbon markets.
“Through this mechanism, our target is to mobilise up to 2.5 billion dollars by 2030 in high-quality credits and related investments.
”We are under no illusion: no country can tackle the climate crisis alone.
