President Bola Tinubu has given the green light for the full operationalisation of Nigeria’s carbon market framework, a strategic policy expected to generate at least $3 billion annually by 2030.
Special Assistant to the President on Social Media, Dada Olusegun, disclosed the development on Thursday via his official X account, @DOlusegun, describing the approval as a major milestone in positioning Nigeria as a key player in global carbon trading.
The policy is designed to facilitate large-scale transactions of emission allowances across vital sectors of the economy, creating new revenue streams while supporting the country’s climate objectives.
As part of the framework, the government will establish a national carbon registry, implement mandatory emissions reporting for companies, and introduce phased compliance measures in line with Nigeria’s climate targets, including emission reductions by 2035 and achieving net-zero by 2060.
To encourage investment, the policy offers up to 10 years of tax exemptions on carbon-credit earnings, accelerated capital allowances for low-carbon technologies, and research and development deductions linked to emissions-reduction projects.
These measures aim to address long-standing barriers to investment in carbon markets, strengthen Nigeria’s reputation as a climate-smart economy, and attract green financing to support sustainable development.
