The Nigerian government has established a new Technical and Steering Committee to oversee the creation and management of its Green Climate Fund and Sovereign Carbon Credit initiatives, aiming to boost its role in global climate finance and energy transition efforts. The committee, launched by the Ministry of Petroleum Resources in Abuja, will develop the necessary financial, institutional and regulatory frameworks to enable Nigeria to access international climate funding and monetise emissions reductions. With climate finance flows to Africa low despite the continent’s low emissions, the committee is seen as central to turning environmental responsibilities into economic opportunities—especially by reducing methane emissions and exploring carbon credit trading.

Source: Nature News