By Rasheeda Hamidu
Nigeria and Germany on Tuesday renewed efforts to expand climate finance in Abuja to accelerate green industrialisation, support sustainable economic growth and strengthen low-carbon development through public and private sector investment.
The commitment was announced during a high-level policy dialogue organised under the Nigerian-German Climate Partnership, according to the Federal Ministry of Budget and Economic Planning.
Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, said climate finance remains critical to achieving Nigeria’s industrial and development objectives while addressing environmental challenges.
Bagudu stated that “climate finance is no longer optional but essential for sustainable development and economic transformation”, according to the ministry.
The minister explained that Nigeria requires increased investment in renewable energy, climate-resilient infrastructure and sustainable industrial projects to meet its development goals.
According to the Federal Ministry of Budget and Economic Planning, the partnership seeks to mobilise public and private capital for projects that reduce greenhouse gas emissions while promoting economic growth and job creation.
Germany’s representatives at the dialogue reaffirmed their support for Nigeria’s climate and development priorities through continued technical cooperation and financial partnerships, according to the ministry.
The ministry reported that discussions focused on unlocking climate finance opportunities, strengthening investment frameworks and promoting sustainable industrial development across key sectors of the economy.
NatureNews notes that climate finance is increasingly recognised as a key tool for supporting Africa’s transition to low-carbon economies while improving resilience to climate-related risks.
The Nigeria-Germany partnership forms part of broader international efforts to mobilise climate investment for sustainable development, clean energy expansion and green industrial growth across Africa.
