The Director-General of the National Council on Climate Change (NCCC), Barrister Teni Majekodunmi, has issued a strong call for increased domestic and international financing to bridge Nigeria’s climate funding gap and enable the country to achieve its Nationally Determined Contribution (NDC) 3.0 targets.
Speaking at a validation workshop in Abuja themed “Driving ambition, strengthening action and aligning with Paris Agreement and global stock take”, Majekodunmi emphasized that without adequate funding, Nigeria risks falling short of its emission reduction goals while facing escalating climate change impacts.
The DG explained that the cost of implementing Nigeria’s NDC is enormous, with billions of dollars required across energy, agriculture, forestry, land use (AFOLU), transportation, oil and gas, water resources, industry, health, and waste management.
“These sectors are at the heart of both our emissions and our resilience strategies,” she noted.
“To reduce carbon footprints and adapt effectively, we must prioritize sustainable investments, strengthen human capital, and scale institutional capacity.”
According to her, the new NDC 3.0 builds on Nigeria’s previous commitments but requires greater financial innovation. Mechanisms such as the Green Climate Fund (GCF), Adaptation Fund, bilateral and multilateral climate finance facilities, and public-private partnerships will be crucial.
She also urged Nigeria to expand the use of green bonds, blended finance, and carbon trading mechanisms to mobilize long-term financing.
While international support remains vital, Majekodunmi highlighted the need for domestic resource mobilization.
She called for reforms in fiscal policies to incentivize green investments, support renewable energy, and attract private sector participation in low-carbon projects.
“In addition to external support, we must mobilize local resources and encourage the Nigerian private sector to play a central role in financing our green transition,” she stressed.
“Reforming fiscal frameworks, offering climate-smart incentives, and ensuring accountability will be decisive steps.”
Majekodunmi also pressed developed countries to honor their long-standing financial and technological commitments under the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement.
She noted that technology transfer, capacity building, and innovation support for developing countries remain limited, further slowing progress toward meeting the 1.5°C Paris target.
“Climate change does not recognize borders,” she said.
“The impacts we face in Nigeria—from floods to desertification—are connected to global emissions. This is why we call on advanced economies to support Africa not as charity but as a global survival strategy.”
Beyond financing, Majekodunmi underscored the importance of technical expertise in data collection, monitoring, and reporting.
She pointed out that Nigeria still struggles with institutional coordination across ministries and agencies, weakening the effectiveness of climate policies.
“Human capital is central to implementing the NDC. We must train experts, strengthen monitoring systems, and improve data reliability to guide evidence-based policymaking,” she added.
Experts say climate financing is not only an environmental necessity but also an economic opportunity.
With Nigeria heavily dependent on fossil fuels, the transition to renewable energy and green industries could generate millions of jobs, reduce energy poverty, and attract sustainable foreign direct investment.
Analysts also argue that the cost of inaction is far greater than the cost of investment.
According to the World Bank, climate-related disasters already cost Nigeria up to $15 billion annually in lost productivity, damaged infrastructure, and displacement.
With the upcoming UN Climate Change Conference (COP30) set for December 2025 in Brazil, Nigeria’s updated NDC 3.0 is expected to be a focal point for international discussions on Africa’s climate financing needs.
Majekodunmi reiterated that Nigeria is committed to meeting its emission reduction target of 47 percent by 2030, conditional on external support, while also advancing adaptation strategies to protect vulnerable communities from climate shocks.
“We are ready to act, but we cannot act alone. The future of Nigeria’s climate resilience lies in strong partnerships, innovative financing, and unwavering commitment from both domestic and global stakeholders,” she declared.