By Ndudirim Sylvia Iloka
Nigeria has launched an aggressive campaign to attract global climate finance, presenting a pipeline of green investment opportunities valued at hundreds of billions of dollars during the inaugural Nigeria Climate Investment Summit (NCIS) held as a flagship event during the London Climate Action Week (LCAW), on Tuesday, 23rd June, 2026.
Convener of the summit and President of GLOBE Legislators, Rt. Hon. Sam Onuigbo, told investors that Nigeria is positioning itself as Africa’s leading destination for climate-focused investments, backed by policy reforms, a growing carbon market and expanding opportunities in renewable energy, green industrial zone in Nasarawa State, sustainable infrastructure, agriculture and clean transportation.
According to Onuigbo, Nigeria’s updated climate commitments require nearly $350 billion in investment to achieve net-zero emissions by 2060, creating significant opportunities for international investors, development finance institutions and private capital.
He noted that investor confidence in Nigeria’s green economy is already evident, citing the strong oversubscriptions of recent sovereign and state-issued green bonds. He argued that investments in Nigeria offer access not only to the country’s population of about 240 million people but also to the wider African market of more than 1.3 billion consumers under the African Continental Free Trade Area (AfCFTA).
The summit highlighted a series of reforms introduced under President Bola Tinubu’s administration, including electricity market liberalisation, carbon market development, expansion of compressed natural gas infrastructure, support for electric vehicles and the operationalisation of the Climate Change Fund.
Onuigbo said Nigeria’s National Carbon Market Framework is expected to generate between $2.5 billion and $3 billion annually in carbon finance over the next decade, while ongoing electricity sector reforms are creating new opportunities for renewable energy, mini-grid and off-grid investments across the country. He revealed that 15 of Nigeria’s 36 states now have their own intra-state electricity markets.
He identified clean energy, climate-smart agriculture, clean cooking solutions, sustainable transport, carbon credits and environmental restoration as some of the sectors offering the greatest potential for investment and job creation.
The summit drew participation from senior government officials, climate finance institutions, development partners and private sector investors. Among those present were Deputy Speaker of the House of Representatives Benjamin Kalu, Lagos State Governor Babajide Sanwo-Olu, Amb Amin Dalhatu, Nigeria’s High Commissioner to the United Kingdom, Prof Chidiebere Onyia, Secretary to the Government of Enugu State, leading figures in global climate finance like Ms Damilola Ogunbiyi, Special Representative of the UN Secretary General and CEO, SEForAll; Dr Tariye Gbadegesin, CEO, Climate Investment Funds.
A key outcome of the event was the announcement by Governor Sanwo-Olu that Lagos State will host a dedicated Climate Action Week in partnership with GLOBE Legislators, SOStainability and the organisers of London Climate Action Week.
Earlier in the day, Onuigbo joined global climate leaders at a high-level forum organised by E3G, where he spoke on building political consensus for climate action, drawing from Nigeria’s experience in passing the Climate Change Act, which he sponsored.
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He described the London summit as a strategic platform to unlock investment, strengthen partnerships and accelerate Nigeria’s transition to a resilient, low-carbon economy.
“We have seen similar opportunities before,” Onuigbo told investors. “The green economy is Nigeria’s next growth frontier, and those who act early stand to benefit the most.”
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