The Nigerian Exchange Group (NGX) has taken a significant step toward climate leadership in Africa by securing multi-billion naira funding from DEG Impulse gGmbH, a subsidiary of the German Development Finance Institution. The funding will power the rollout of its flagship NGX Net-Zero Programme (N-Zero)—an initiative aimed at equipping Nigerian businesses to meet global climate goals and transition to low-carbon operations.
The landmark agreement was signed in Cologne, Germany, under the develoPPP programme—an initiative sponsored by the German Federal Ministry for Economic Cooperation and Development (BMZ) to support high-impact private sector projects in emerging markets.
According to NGX, the N-Zero initiative is designed to provide Nigerian businesses with technical guidance, verified frameworks, and practical toolkits to help them define, validate, and achieve science-based emission reduction targets in line with the Paris Agreement and the global goal of limiting temperature rise to 1.5°C.
“This partnership demonstrates strong confidence in our vision to drive sustainable finance, build a climate-conscious private sector in Nigeria, and champion climate action across Africa,” said Temi Popoola, Group Managing Director and CEO of NGX.
The NGX Net-Zero Programme comes at a time when Nigeria is seeking to balance economic development with sustainability goals. Through this initiative, NGX will work closely with Africa Foresight Group and other global partners to support businesses in creating transition plans and developing carbon credit-generating projects.
These carbon projects, once verified, can attract green investments and generate alternative revenue streams for companies, helping Nigeria build economic resilience while reducing carbon emissions.
NGX Chairman Umaru Kwairanga emphasized that capital markets have a critical role to play in climate action. “This partnership positions NGX at the forefront of climate leadership in Africa. It is a model for what is possible when international institutions collaborate with local expertise,” he stated.
The N-Zero initiative is part of NGX’s broader vision to integrate environmental, social, and governance (ESG) principles into Nigeria’s financial ecosystem. With support from international funding and technical partners, NGX aims to mobilize climate finance, enhance transparency in emissions reporting, and incentivize companies to adopt climate-smart business practices.
The collaboration is also expected to improve Nigeria’s access to voluntary carbon markets, enabling companies to offset emissions through sustainable investments. This comes as more African countries seek inclusion in global climate markets amid rising demand for verified African carbon credits.
Hubertus Pleister, Managing Director of DEG Impulse, said the programme aligns with Germany’s commitment to fostering sustainability through strategic partnerships. “The develoPPP funding contributes to NGX’s transformation by addressing climate risks and advancing sustainable business practices across Nigeria’s corporate sector,” he noted.
This German-Nigerian partnership represents a strategic alignment of environmental and economic priorities, especially in Africa where climate vulnerability is high, yet mitigation and adaptation funding remains limited.
What Businesses Can Expect
Participating companies in the NGX N-Zero Programme will gain access to:
Emissions reduction planning tools
Carbon audit frameworks
Technical support to participate in carbon markets
Investor matchmaking for green project financing
Training and workshops on ESG reporting and sustainability compliance
These efforts are designed to empower the private sector, including listed companies, SMEs, and fintechs, to integrate sustainability into their operations and become active players in Nigeria’s climate transition.
The NGX’s bold move to spearhead climate finance innovation—backed by a leading German development institution—signals a new chapter in Nigeria’s sustainability journey. As the global economy shifts toward decarbonisation, this initiative offers Nigerian companies a platform to remain competitive, attract impact investors, and contribute to national climate targets.