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ARTICLE · 02 MARCH 2026

From Ideation To Operationalisation: The Evolution Of A Fully Structured Carbon Market In Nigeria

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The framework aims to facilitate the trading of carbon credits, incentivize emissions reduction, and attract both domestic and foreign investment in green projects.

NigeriaEnvironment
Desmond Ogba
Desmond Ogba

From Ideation to Operationalisation: The Evolution of a Fully Structured Carbon Market in Nigeria1

Introduction

As global efforts continue to address greenhouse gas (GHG) emissions, Nigeria has set an ambitious target to achieve net zero by 2060, aiming to equalise the amount of GHG emitted with the amount removed. The country's Energy Transition Plan ("ETP") provides a tailored, phased approach to reach this objective.2 However, the scale of financial capital required to achieve this target is substantial, estimated at $410 billion above business-as-usual spending, with significant front-loaded investments needed by 2040.

In response, Nigeria, as a party to the Paris Agreement,3 is moving away from traditional funding models and adopting economic strategies to unlock and access new climate finance sources and support emission reduction in its Nationally Determined Contribution ("NDC") priority sectors, such as agriculture, power, industry, oil and gas,

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