Nigeria has taken a major step toward bridging its climate finance gap with the launch of the United Kingdom-supported Climate Finance Access Guide, a toolkit aimed at unlocking green capital for inclusive and sustainable growth.
Nigeria's Push to Unlock Climate Finance
With the increase in climate disasters and a widening economic loss of over US$100 billion annually, Nigeria's Finance Ministry, with UK support, has launched the PACE Climate Finance Access Guide, aiming to mobilise US$17.7–27.2 billion per year through 2030 for climate-resilient growth.
Rising floods, droughts, and sea level increases have continued to highlight the urgent financial shortfall and systemic risk to infrastructure, agriculture, and public welfare.
Key Initiatives & Strategic Partnerships
In collaboration with the UK PACE programme and Nigeria's Federal Ministry of Budget and Economic Planning, the Guide seeks out state governments, private investors, and enterprises, translating climate ambitions into investment-ready projects.
Ongoing institutional reforms, such as Nigeria's Green Growth Office and Finance Coordinating Unit, are potentially aligning transparency, coordination, and inclusiveness in project funding.
Ministers Wale Edun (Minister of Finance and Coordinating Minister of the Economy) and Abubakar Bagudu (Minister of Budget and Economic Planning) called for bankable solutions and skill-building to transition from climate challenge to climate opportunity.
Impact Potential and Sector Benefits
Stakeholders, including the British High Commission and Green Climate Fund, highlight the transformative effects if the US$20 billion climate finance gap is closed from green energy, waste-to-energy, and resilient agriculture to local job creation and infrastructure upgrades.
The PACE Guide will empower Nigeria's 36 states and private sector players with practical tools, which could enable communities to turn climate risks into engines of sustainable development and poverty reduction.
Next Steps for Stakeholders
PACE will deploy the guide nationwide, working with governors and economic councils for grassroots buy-in.
The Nigerian government has established a N21 billion Project Preparation Fund for robust project development.
Public–private partnerships and international agencies stand ready to support investment-ready initiatives, focusing on subnational investment, climate risk mitigation, and inclusive growth.
Path Forward – Advancing Nigeria's Green Future
If fully leveraged, the PACE Guide could drive transparent, inclusive mobilisation and management of climate finance, shifting Nigeria from policy intent to tangible action.
With coordinated advocacy and sector-wide engagement, Nigeria should be poised to catalyse climate finance for resilience, innovation, and long-term prosperity.
Nigeria's Climate Finance Metrics
| Metric | Value (USD Billion per Year) |
|---|---|
| Annual Climate Finance Need | 17.7 – 27.2 |
| Estimated Climate Finance Gap | 20 |
| Economic Losses Due to Climate Impact | Over 100 |
Nigeria's Climate Finance Needs, Gaps, and Losses (2025-2030)
Culled From: https://www.africannewspage.net/2025/10/pace-guide-unlocking-climate-finance-for-sustainable-growth-in-nigeria/
