By Abdullahi Lukman
Nigeria has set a $3 billion annual target from carbon markets, Vice President Kashim Shettima has announced.
Shettima was speaking at the 30th United Nations Climate Change Conference (COP30) in Belém, Brazil, where he restated commitment to leading Africa’s climate action and mobilizing equitable financing for sustainable development.
Representing President Bola Tinubu, Shettima urged global partners to recognize the economic value of nature and channel predictable, equitable, and accessible financing to protect and restore the environment.
He emphasized that Nigeria’s renewed climate agenda reflects a “solemn national commitment to preserve the planet for future generations.”
At the global climate summit, the Vice President participated in high-level sessions, including “Climate and Nature: Forests and Oceans,” and joined the launch of the Tropical Forest Forever Fund.
He also attended a roundtable chaired by Brazilian President Luiz Inácio Lula da Silva on climate and nature and held bilateral meetings to advance Nigeria’s participation in global carbon markets.
Special Adviser to the President on NEC and Climate Change, Rukaiya El-Rufai, reaffirmed Nigeria’s resolve to use its influence within ECOWAS and the African Union to mobilize finance and drive regional adaptation efforts.
She noted that Nigeria’s natural resources — including oil, gas, and renewables — will play a key role in implementing the country’s Nationally Determined Contributions (NDCs).
El-Rufai also highlighted Nigeria’s leadership in climate policy, citing the nation’s Climate Change Act and operational carbon market framework.
She urged other countries to follow Nigeria’s example by submitting their NDCs and implementing existing climate pledges.
Vice President Shettima has since departed Brazil for Abuja after leading Nigeria’s delegation to the conference themed “COP of Action and Implementation.