The Africa Green Economy and Sustainability Institute (AGESI) has revealed that Nigeria can generate up to $2 billion in new climate finance if the West African country implements a “disciplined execution”.

AGESI’s executive director, Eugene Itua, disclosed this at the Nigeria Climate Investment Summit (NCIS) 2026 held in London on Monday as part of the London Climate Action Week (LCAW).

It was an avenue to rally support for unlocking climate finance and advancing Nigeria–UK cooperation on green industrialisation.

The event, organised by GLOBE Legislators in collaboration with SOStainability, brought together Nigerian officials, legislators, governors, regulators, global investors, development finance institutions, innovators, and diaspora capital networks under one roof.

Highlighting Nigeria’s strong climate policy foundation, including the Climate Change Act (2021) and Long-Term Low Emissions Development Strategy (LTLEDS), Mr Itua noted that the country has 40–60 million high-integrity carbon credits annually, unlocking a revenue worth between $1.2 billion and $2 billion.

“Nigeria’s challenge is not policy design — it is implementation,” the AGESI director stated, citing foundational policies such as the Nationally Determined Contribution (NDC 3.0), the National Carbon Market Activation Plan (CMAP), the National Carbon Market Framework (CMF), and the National Carbon Registry.

The Clean Cooking Policy & LPG Transition Framework, the National Methane Mitigation Policy, the Gas Flare Commercialisation Programme, the Energy Transition Plan (ETP), and the Decade of Gas Programme were also highlighted.

Speaking further, Mr Itua reiterated that the next line of action for the country must be diligent execution, which he said should involve deploying systems to ensure the collection of reliable data, strengthening state-level readiness, and implementing frameworks that align with the African Development Bank Group (AfDB) safeguards.

He also suggested operationalising Article 6 with clear authorisation, benefit-sharing, and corresponding adjustment rules, as well as deploying blended finance tools through NSIA, NIRSAL, and AfDB to reduce investor risk.

“These actions will turn Nigeria’s carbon market from a policy idea into a functioning investment ecosystem,” Mr Itua explained. “Communities are not stakeholders on the sidelines — they are co-owners of the assets that make carbon markets possible. If they are not at the table, the market will lack legitimacy and long-term sustainability.”