Renewables
Nigeria faces $336bn climate funding gap through 2035
Nigeria requires over three hundred billion dollars for climate initiatives over the next decade, according to the National Council on Climate Change.
Key points
- Nigeria needs $336.5bn between 2026 and 2035 for mitigation and adaptation.
- Emissions reduction requires $195bn, while adaptation accounts for $141.5bn.
- The Semaform Foundation plans to launch Grant Swipe at COP31 to connect projects with funders.
What happened
Nigeria will need approximately $336.5bn over the next decade, spanning from 2026 to 2035, to execute its climate change adaptation and mitigation strategies. This information was disclosed by Tenioye Majekodunmi, who leads the National Council on Climate Change, through a statement issued by the Semaform Foundation.
The capital outlay is divided into $195bn designated for cutting emissions and $141.5bn allocated to building climate resilience. According to the announcement, these financial commitments are expected to bolster economic stability and generate employment across crucial sectors such as infrastructure, agriculture and energy.
To help bridge the funding deficit, the Semaform Foundation intends to introduce a matchmaking tool named Grant Swipe. The platform is scheduled for unveiling during the Handshake Summit and Awards on November 13, 2026, in Antalya, Türkiye, coinciding with the United Nations Climate Change Conference, COP31. The initiative aims to resolve difficulties faced by community groups in securing financial backing and helps investors identify viable green projects.
What comes next
The upcoming summit in Türkiye will host discussions addressing agricultural challenges, green finance accessibility for women and disabled individuals, and broader international climate negotiations. Organisers note that numerous local environmental proposals stall during early planning stages due to insufficient capital injection. The upcoming events seek to convert discussions into concrete partnerships.
Why it matters
Securing substantial capital remains a formidable hurdle for African nations aiming to transition their economies while addressing pressing developmental needs. With fuel exports accounting for 85.9 per cent of Nigeria's merchandise exports in 2025 according to World Bank figures, diversifying economic output and building climate resilience are paramount for long-term stability.
Furthermore, domestic energy access metrics highlight the scale of the structural transformation required. World Bank data for 2024 indicates that only 62.5 per cent of Nigeria's population has access to electricity, while clean cooking access stands at just 28 per cent. Mobilising hundreds of billions of dollars in both public and private capital will be essential to bridge these energy poverty gaps while simultaneously meeting international climate commitments over the coming decade.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Renewables are the fastest-growing part of the world’s energy system. The COP28 goal is to triple capacity by 2030, and solar mini-grids are the fastest route to power for millions of people without electricity.
22.0% of electricity in Nigeria was renewable in 2021Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
