The Director-General of the National Council on Climate Change (NCCC), Barr. Teni Majekodunmi, has called for greater domestic and international financing to bridge the funding gap in Nigeria’s Nationally Determined Contribution (NDC) 3.0 and enable the country to effectively tackle the impacts of climate change.
Speaking at a workshop in Abuja on the validation of Nigeria’s NDC 3.0, themed “Driving Ambition, Strengthening Action, and Aligning with the Paris Agreement and Global Stocktake,” Majekodunmi stressed the need for innovative funding mechanisms to meet Nigeria’s emission reduction targets.
She highlighted several potential financing channels, including:
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Green Climate Fund (GCF) and the Adaptation Fund
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Bilateral and multilateral climate finance facilities
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Public-private partnerships
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Innovative tools such as green bonds and blended finance mechanisms
High Costs of Climate Action
Majekodunmi underscored that implementing Nigeria’s climate mitigation and adaptation measures would require significant investment across critical sectors, including energy and power generation, agriculture, forestry and land use (AFOLU), transportation, industry, waste management, oil and gas, water resources, and health.
“In addition to external support, we recognize the urgent need to mobilize domestic resources, reform fiscal frameworks, and incentivize private sector investment in low-carbon development,” she said.
The NCCC DG further emphasized the importance of investing in human capital and institutional capacity to deliver on Nigeria’s commitments.
“Effective implementation of our NDC requires enhanced technical expertise for data collection, monitoring, and reporting, alongside stronger institutional coordination mechanisms,” she added.
Majekodunmi reaffirmed Nigeria’s commitment to aligning its climate action with the Paris Agreement, urging all stakeholders to work collectively to unlock funding opportunities and drive sustainable development.
