Africa’s Climate Promises Face Funding Test as Nigeria Defends Sustainable Oil, Gas Devt
*Experts seek private capital, affordable climate finance *FG targets lower emissions, domestic refining Michael Olugbode in Abuja Africa’s climate commitments risk remaining unfulfilled without increased private-sector investment, affordable financing and
On the opening day of the Africa Climate Forum 2026 in Abuja, government officials and stakeholders warned that African nations risk failing to meet their climate commitments without bolstered private investment, accessible financing, and improved government accountability. The Federal Government of Nigeria maintained that sustainable petroleum development should be a crucial component of its energy transition, despite concerns over its impact on emissions and environmental degradation.
Permanent Secretary Emmanuel Okon highlighted Nigeria's vast oil and gas reserves, as well as its efforts to reduce methane emissions and greenhouse gases, improve gas utilisation, and advance domestic value addition. The country's ambitious production figures and commitment to domestic refining were also emphasized as key aspects of its strategy.
Stakeholders at the forum called for stronger public-private partnerships to translate climate pledges into projects that protect livelihoods, enhance energy access, and bolster resilience to climate change.
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