FG targets $500m funding to strengthen climate investment, others

The Federal Government of Nigeria is targeting $500 million in climate financing to bolster climate-resilient infrastructure, enhance adaptation measures, and support other climate-related policy priorities. This announcement was made by the Minister of Aviation and Aerospace Development, Festus Keyamo, at the annual meeting of the Alliance for Hydromet Development in Lagos.

Keyamo highlighted the establishment of the Nigerian Climate Investment Platform, which aims to unlock substantial funding for climate action, and the accreditation of the Nigerian Sovereign Investment Authority as a direct access entity to the Green Climate Fund. The government is also exploring green bonds, carbon market mechanisms, and other innovative financing instruments to strengthen its capacity to access international climate finance.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.