Landscape of Climate Finance in Nigeria

This report analyzes climate finance in Nigeria for the 2019/2020 period, highlighting a significant investment gap between current funding levels and the requirements to meet the country's conditional Nationally Determined Contribution (NDC) targets.

• In 2019/2020, Nigeria received an average of USD 1.9 billion per year in public and private climate-related investment. This amount represents only 11% of the estimated USD 17.7 billion required annually to achieve the conditional Nationally Determined Contribution (NDC) target of reducing emissions by 47% below business-as-usual by 2030.
• Fossil-fuel financing remains dominant in Nigeria. Between 2016 and 2021, Nigeria had the second-highest number of financed fossil fuel projects in Africa. A single liquified natural gas (LNG) project received USD 2.77 billion, which exceeds the total tracked climate finance for 2019/2020.
• Climate finance in 2019/2020 was split between mitigation (USD 1.1 billion) and adaptation (USD 663 million). The report notes that adaptation finance is insufficient given that Nigeria is ranked as the 53rd most vulnerable and 6th least-ready country for climate adaptation according to ND GAIN.
• The composition of climate finance in Nigeria is characterized by a reliance on debt and public funding. Concessional debt is the primary instrument (46%), followed by non-concessional debt (25%), equity (12%), and grants (5%). Private sector investment accounted for only 23% of total committed climate finance in 2019/2020.

APA

Climate Policy Initiative (2022). Landscape of Climate Finance in Nigeria. https://www.climatepolicyinitiative.org/publication/landscape-of-climate-finance-in-nigeria/

Chicago

Climate Policy Initiative. Landscape of Climate Finance in Nigeria. 2022. https://www.climatepolicyinitiative.org/publication/landscape-of-climate-finance-in-nigeria/.

Wikipedia

{{cite report |author=Climate Policy Initiative |title=Landscape of Climate Finance in Nigeria |date=4 October 2022 |url=https://www.climatepolicyinitiative.org/publication/landscape-of-climate-finance-in-nigeria/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatepolicyinitiative2022landscape, author = {{Climate Policy Initiative}}, title = {{Landscape of Climate Finance in Nigeria}}, institution = {Climate Policy Initiative}, year = {2022}, month = oct, url = {https://www.climatepolicyinitiative.org/publication/landscape-of-climate-finance-in-nigeria/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }