‘Nigeria needs $336.5bn for climate action’

Nigeria will require approximately $336.5bn between 2026 and 2035 to finance climate change mitigation and adaptation programmes, the Director-General of the National Council on Climate Change, Tenioye Majekodunmi, has said.

According to her, the funding requirement comprises $195bn for emissions mitigation and $141.5bn for adaptation, with investments expected to create jobs and strengthen economic resilience in key sectors, including energy, agriculture and infrastructure.

Majekodunmi, in a statement on Saturday by the Head of Failure and Social Experiments at Semaform Foundation, Chaste Inegbedion, added that the financing requirement had renewed concerns about the country’s capacity to mobilise adequate resources to implement its climate commitments.

“The Director-General of the National Council on Climate Change, Mrs Tenioye Majekodunmi, said the financing requirement for 2026 to 2035 comprised approximately $195 billion for emissions mitigation and $141.5 billion for adaptation,” the statement read partly.

“She said the investments could create jobs and strengthen economic resilience, particularly in energy, agriculture, infrastructure and other key sectors.”

Inegbedion said the foundation had announced plans to launch a platform aimed at connecting organisations seeking climate funding with grant providers and investors.

The platform, known as Grant Swipe, will be unveiled during the foundation’s Handshake Summit and Awards scheduled for November 13, 2026, in Antalya, Türkiye, on the sidelines of the United Nations Climate Change Conference, COP31.

Inegbedion said the platform was designed to address the difficulties community organisations face in accessing grants and the challenges funders encounter in identifying suitable projects.

He added that many viable climate initiatives failed to progress beyond the planning stage because their promoters lacked access to the financial resources required for implementation.

“Funding is the difference between a climate plan and climate progress. We created the Handshake Summit and Awards so that recognition becomes relationships, and relationships become funded, measurable action,” Inegbedion said.

The summit is scheduled for 1 p.m. to 3 p.m. and will bring together policymakers, investors, development practitioners and climate stakeholders to discuss climate finance, artificial intelligence investment and trade.

One of its sessions, titled Happy and Hungry, will examine the paradox of rising global agricultural production alongside persistent hunger, estimated at 670 million people worldwide.

The discussion will be moderated by Inegbedion and feature Daniel Oladoja, Lead Curator of Solar Stories and Visiting Fellow at the University of Exeter; Dr Babatunde Ajayi, General Manager of the Lagos State Environmental Protection Agency; and Dr Joy Nnamdi Amaoma of the Niger Delta Development Commission.

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Another session, Ladies in Climate, will examine how green financing can become more accessible to women and persons with disabilities, particularly in renewable energy, clean cooking and climate-resilient businesses.

The discussion will be moderated by Lyzianah Emakoua, a United Nations Economic Commission for Africa African Youth Climate Negotiator, with Lagos State Governor’s Special Adviser on Climate Change, Titilayo Oshodi, and Executive Director of the World Impact Initiative, Nneka Okoye, as speakers.

The organisers said the session would address barriers preventing women and persons with disabilities from benefiting from climate investments despite their vulnerability to environmental and economic shocks.

Twenty individuals will also be recognised for their contributions to climate action, environmental governance, policy development and sustainable development.

Among the honourees are the Chairman of the House of Representatives Committee on Climate Change and Security, Dr Kama Nkemkanma; Nnaemeka Oruh, secretary of the committee that drafted Nigeria’s Climate Change Act; Dr Ajayi; Enebi Opaluwa of the BudgIT Foundation; and Comrade Yusuf Olatunji Kelani, Special Assistant to the President on Climate Change.

Others include Emakoua, Oshodi, Okoye, and Ebaide Queen Omiunu, Founder and Executive Director of The Ebaidebheki Initiative, who will also serve as master of ceremonies.

Omiunu, who participated in the October 2026 Gambia Civil Society Summit, identified access to affordable climate finance, food security, climate resilience, an equitable energy transition and credible carbon market investments as priorities for African countries.

“Our delegates must speak with one voice for Nigeria’s interests at the negotiations,” she said. “But our voices go beyond Nigeria. They carry across the Global South, the United States, Europe, and the entire world.”

The summit coincides with COP31’s November 13 thematic day on Finance and Trade, which is expected to focus on mobilising investments and strengthening financing arrangements for climate action.

The COP31 Presidency has also identified food security, sustainable agriculture, clean energy transition, electrification, youth and education among its priorities.

Inegbedion, who recently attended the IMF-World Bank Annual Meetings in Bangkok, said the summit would promote partnerships between climate organisations, investors, policymakers and development institutions.

The Semaform Foundation said its activities focus on connecting technology, climate action, philanthropy and community development to promote measurable environmental and social impact.