By Abbas Nazil
Nigerian government has launched the Carbon Market Association of Nigeria (CMAN) to strengthen the country’s carbon trading system and accelerate climate action.
The launch took place at the ongoing COP30 climate conference in Belém, Brazil, with Environment Minister, Balarabe Lawal, highlighting the association’s role in coordinating actors across the carbon market value chain.
Carbon markets enable countries, companies, and organisations to buy and sell carbon credits as a mechanism to reduce greenhouse gas emissions.
President Bola Tinubu approved a national framework on October 31 to guide the growth of a high-integrity carbon market capable of attracting international finance and positioning Nigeria as a regional hub for carbon credit generation.
Lawal said CMAN would support the implementation of the Nigeria Carbon Market Framework, share knowledge, and evolve best practices to ensure Nigeria produces credible and transparent carbon credits.
The association is expected to enhance project development in forestry, renewable energy, clean cooking, and blue carbon initiatives, while amplifying Nigeria’s influence in global carbon market governance.
Lawal urged private sector players, civil society groups, and project developers to collaborate through CMAN to unlock the country’s carbon market potential and advance national climate targets.
Horsfall Tony, interim president of CMAN, described the association as a credible umbrella body uniting all carbon market stakeholders to shape collective policies, mobilise climate finance, and support high-quality carbon projects that promote sustainable development.
Tony added that CMAN would prioritise advocacy, strategic partnerships, and coordination to align Nigeria with global standards for carbon credits, ensuring the country strengthens its role in international climate negotiations and African-led solutions.
The establishment of CMAN represents a significant milestone in Nigeria’s climate and economic transformation agenda, reinforcing the government’s commitment to achieving sustainable development and enhancing the country’s global climate profile.