By Abbas Nazil
The Partnership for Agile Governance and Climate Engagement (PACE), funded by UK International Development, has launched the PACE Guide for Assessing Capability to Access Climate Finance to enhance Nigeria’s readiness for global climate funding.
The launch, held at the 31st Nigerian Economic Summit in Abuja, brought together ministers, governors, policymakers, investors, and development partners to discuss how climate finance can be used as both a governance reform tool and an engine for economic growth.
Nigeria currently needs about $17.7 billion annually to meet its Paris Agreement and Nationally Determined Contribution (NDC) targets.
However, the country accesses less than 10 percent of that amount.
The newly unveiled Guide provides a practical roadmap to help governments and private businesses attract climate finance from sources such as the Green Climate Fund (GCF), Global Environment Facility (GEF), and multilateral development banks.
PACE’s framework aims to bridge Nigeria’s $17.7 billion funding gap by providing tools and checklists for states and eco-friendly enterprises to assess their readiness.
It demonstrates how reforms, accountability, and agile institutions can unlock billions in climate funding, channeling those resources into sustainable infrastructure, agriculture, energy, and industrial projects.
The initiative also seeks to create economic opportunities, build resilience, and reduce over $100 billion in annual losses caused by climate-related shocks such as floods and droughts.
PACE emphasizes inclusivity, ensuring that women, youth, and vulnerable groups benefit from climate finance projects.
Officials described the Guide as more than a report — a hands-on toolkit that includes templates, priority funding sources, and step-by-step guidance for accessing funds.
According to organizers, the initiative not only advances Nigeria’s climate ambitions but also positions the country as a model for Africa in pursuing climate justice and sustainable development ahead of COP30.