Nigeria To Mobilise $30 Billion Yearly To Finance Energy Transition Reforms – Tinubu
President Bola Tinubu said Nigeria aims to mobilise up to $30 billion annually in climate and green industrial finance as it accelerates energy transition reforms and expands nationwide electricity access.
Tinubu who made this announcement on Tuesday at the 2026 Abu Dhabi Sustainability Week (ADSW) said the foundation of every modern economy is electricity.
Bayo Onanuga, Special Adviser to the President (Information & Strategy) made this known in a statement yesterday.
As an emerging economy in the Global South, the President said his government understand the delicate balance between industrialisation and decarbonisation, ensuring neither is pursued at the expense of the other.
”We are calling for a fundamental shift in the global financial architecture: a move away from the restrictive requirement of sovereign guarantees, which unfairly penalise developing economies.
”Instead, the focus should be on blended finance and first-loss capital mechanisms that allow private sustainable capital flows directly into our green projects without further straining national balance sheets,” he said.
According to President Tinubu, Nigeria has strengthened its climate governance framework with the adoption of a National Carbon Market Activation Policy and the launch of a National Carbon Registry.
He explained that these measures are aimed at improving transparency and investor confidence.
President Tinubu highlighted the Electricity Act 2023 as a central pillar of Nigeria’s energy reforms, noting that it enables decentralised power generation and distribution to underserved communities.
He added that Nigeria’s climate investment drive includes a $500 million distributed renewable energy fund backed by the Nigeria Sovereign Investment Authority, as well as a $750 million World Bank programme expected to expand clean electricity access to more than 17.5 million people.
President Tinubu reaffirmed Nigeria’s target of net-zero emissions by 2060, under its Energy Transition Plan, while pursuing industrial growth and universal energy access.
He invited foreign investors to partner in Nigeria’s lithium and critical minerals sector, stressing that the government prioritises local processing and value addition.
President Tinubu noted that Nigeria’s ongoing economic reforms are producing tangible results, including a 21 per cent growth in non-oil exports.
”These reforms, alongside wider fiscal and monetary measures, are delivering results. Non-oil exports have grown by 21 per cent, supported by a more diversified product base. Capital importation has risen, and Nigeria now has over 50 billion dollars in investment commitments across key sectors.
”We are ready to work with partners across the world to ensure that the next era of development is not only green and inclusive, but just and enduring,” he said.
President Tinubu announced that Nigeria will co-host Investopia with the United Arab Emirates (UAE) in Lagos in February, an initiative aimed at attracting global investors and accelerating sustainable investment inflows.
At the sidelines of the Summit, Nigeria also concluded a Comprehensive Economic Partnership Agreement (CEPA) with the UAE to deepen trade and cooperation in renewable energy, infrastructure, logistics, and digital trade.
President Tinubu described CEPA as a historic and strategic agreement that will also enhance cooperation in aviation, logistics, agriculture, and climate-smart infrastructure, creating enduring opportunities for the people of the two countries.
He stated that Investopia will bring together investors, innovators, policymakers, and business leaders to transform opportunities into commitment and ideas into investment.
”We warmly invite our partners to join us and help build the next chapter of sustainable and shared prosperity for Nigeria, Africa, and the world, ” President Tinubu said.
Present at the signing of the agreement were President Tinubu, President of the United Arab Emirates, Mohamed bin Zayed Al Nahyan, Nigeria’s Minister of Industry, Trade, and Investment, Dr Jumoke Oduwole, UAE Minister of Foreign Trade and Minister in charge of Talent Attraction and Retention, Dr Thani bin Ahmed Al Zeyoudi.
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