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Home Climate change 

FG targets $500m climate investment, approves N83.2bn for flood response

by Online Editor
October 14, 2026
in Climate change 
Reading Time: 3 mins read
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FG targets $500m climate investment, approves N83.2bn for flood response
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By Abdullahi Lukman

The Federal Government has announced plans to mobilise $500 million in climate-related investments and approved N83.2 billion for interventions to address flooding and other climate-related emergencies across Nigeria.

The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this at the 2026 Annual Meeting of the Alliance for Hydromet Development in Lagos, where stakeholders called for increased funding for weather observation systems, early warning mechanisms and climate information services.

Keyamo said the initiatives were designed to strengthen Nigeria’s capacity to predict weather-related disasters, protect lives and infrastructure, and support sustainable economic growth.

He explained that the government was using the Nigerian Climate Investment Platform to mobilise domestic and international funding for climate-resilient infrastructure, adaptation projects and other climate priorities.

According to him, the accreditation of the Nigerian Social Investment Authority as a direct access entity to the Green Climate Fund would improve the country’s ability to secure and deploy international climate finance.

He added that the Development Bank of Nigeria was strengthening its capacity to assess climate finance opportunities, while the government was exploring green bonds, carbon markets and other innovative funding mechanisms. The government has also approved a national carbon market framework and is working towards establishing a climate change fund.

Keyamo further disclosed that the National Economic Council approved N83.2 billion in June 2026 for participatory action task force interventions to mitigate the anticipated effects of flooding and other climate-related emergencies.

He emphasised that weather, water and climate services should be treated as critical national infrastructure, noting that reliable forecasts and early warnings were essential for disaster prevention and informed decision-making.

The minister also highlighted the role of the Nigerian Meteorological Agency’s (NiMet) Seasonal Climate Prediction in helping authorities plan ahead and implement preventive measures before weather hazards escalate into disasters.

NiMet Director-General, Prof. Charles Anosike, raised concerns over inadequate weather observation infrastructure across Africa, saying the continent accounts for about 30 per cent of the global deficit in weather and climate observations.

He noted that Africa operates only 12.5 per cent of the minimum weather station density recommended by the World Meteorological Organisation (WMO).

Compliance with recommended observation standards across 53 countries, including Least Developed Countries and Small Island Developing States, stands at seven per cent for surface land stations and nine per cent for upper-air stations.

Anosike, who also serves as Nigeria’s permanent representative to the WMO, said the gaps were particularly concerning for Nigeria, given its landmass of more than 900,000 square kilometres and the limited availability of standard meteorological stations in rural, agricultural and remote border communities.

He urged development banks, financial institutions, private investors, philanthropic organisations and climate funds to support the expansion of weather observation networks, radar infrastructure, remote sensing systems and climate information platforms.

Representing the Lagos State Governor, the Special Adviser on Maritime and Blue Economy, Oluwadamola Emmanuel, also called for increased investment in forecasting systems and resilient infrastructure, particularly in vulnerable coastal
communities.

Emmanuel said Lagos, as a coastal megacity and Nigeria’s commercial centre, remained exposed to recurrent flooding and intense rainfall, warning that inadequate preparedness could result in significant economic and social losses.

He cited the 2022 floods in Nigeria, which displaced more than 2.4 million people, killed over 700 and caused an estimated $8.4 billion in damage, as evidence of the devastating consequences of climate-related disasters.

The WMO Director-General, Dr Abdulla Ahmed Al Mandous, called on governments and development partners to increase investment in weather forecasting and early warning systems to protect lives, livelihoods and infrastructure from increasingly severe weather events.

He identified increased funding, stronger legal frameworks, broader partnerships and regional cooperation as key priorities for improving weather and climate services.

Al Mandous said projects under the ECOWAS Hydromet Initiative in Nigeria could generate economic returns of 19 to one. He also urged African countries to strengthen local expertise and support the United Nations’ Early Warnings for All initiative ahead of its 2030 target.

Similarly, Daniel Kull, Director of the WMO’s Development Partnerships and Programme Delivery Division, said the Alliance for Hydromet Development was established at the 2019 United Nations Climate Change Conference, COP25, to address capacity gaps in weather and climate services by 2030.

Kull noted that investments in Nigeria’s weather and climate services were estimated to generate returns of 19 to one, highlighting the potential economic benefits of improving the country’s forecasting and early warning infrastructure.

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