Nigeria Climate Change Fund Stakeholder Engagement Report

The National Council on Climate Change Secretariat (NCCCS), supported by Green Protocol, organized a 2-day hybrid stakeholder engagement on the Nigeria Climate Change Fund to address Nigeria's financial needs and resources for climate change mitigation and adaptation. The event took place in Abuja on the 3rd and 4th of March, 2025, with legislators, government agencies, the private sector, the diplomatic community, academia, civil society, and NGOs in attendance onsite and online.

The meeting had two clear objectives: to develop a Climate Change Fund Framework for Nigeria, and to craft a Climate Change Taxonomy for Nigeria. The Director-General of NCCCS, Dr. Nkiruka Maduekwe, emphasized the need for Nigeria to have a Climate Change Fund mechanism on ground to boost investment and drive climate action. Green Protocol Nigeria's Project Coordinator, Deborah Anumenechi, highlighted that "financing remains at the heart of effective climate action" and stressed that establishing the fund is a crucial step toward mobilizing sustainable and predictable financing for Nigeria's climate ambitions.

Stakeholders described what Nigeria's fund should look like: "a robust but simple and effective structure, a solid corporate governance structure, and commercially focused, because investors want a return on their investment." Community engagement was deemed essential, with stakeholders advocating for Corporate Social Responsibility (CSR) integration within the framework. Discussions covered climate finance definitions, funding sources within Nigeria, project selection criteria, balancing adaptation and mitigation resources, transparency and accountability, capacity development, and blended finance possibilities.

On the second day, stakeholders deliberated on developing a comprehensive Climate Change Taxonomy for Nigeria to increase funding accessibility for climate initiatives and support Nigeria's NDC targets, recommending a phased sectoral approach — identifying sectors, introducing thresholds, then reviewing and refining them progressively, while reflecting the goals of the NDCs and aligning with international standards. The engagement produced a draft Climate Change Fund Framework, establishing a foundation for climate finance in Nigeria, remaining open to further refinement.