FG announces net‑zero investment plan, aims for carbon neutrality by 2060

By Progress Godfrey

ABUJA – The Federal Government announced its Net‑Zero Investment Plan on Wednesday, setting a target of carbon neutrality by 2060 and emphasizing growth driven by clean investment.

Senator Abubakar Atiku Bagudu, Minister of Budget and Economic Planning, explained that the plan charts Nigeria’s route to net‑zero greenhouse‑gas emissions and embeds climate action within the country’s long‑term economic strategy.

The launch was attended by senior officials, development partners and private‑sector stakeholders, signalling a coordinated policy direction and financing focus for climate and infrastructure projects.

“We are here to emphasise that Nigeria is not reluctant to commit to initiatives that may affect the private sector, which seeks financing for various projects,” Bagudu said.

He noted recent talks with German partners that secured commitments to mobilise long‑term funding, including €71 million in contributions and a €300 million credit guarantee to back climate‑aligned investments.

Bagudu linked the plan to constitutional provisions, pointing out that Section 20 mandates environmental protection while Section 13 assigns responsibility across all arms of government.

“Nigeria’s Agenda 2050 recognises that environmental management and sustainability are integral to national planning, not tangential,” he added.

The minister said lessons from environmental degradation in Ogoniland have informed current policy, leading to stronger regulation, improved technology and better data to guide resource use and agricultural practices.

He further stressed that reforms aim to reduce investment risk, attract capital and support the goal of building a $1 trillion economy that balances profitability with environmental responsibility.

Dr Karin Jansen, Head of International Cooperation at the German Embassy, said the plan reflects Nigeria’s priorities and was developed through a broad consultative process involving government, experts, civil society and business groups.

She said the initiative demonstrates increased readiness to attract global climate finance and deepen cooperation on energy transition, efficiency and emissions reduction.

“This investment plan is, above all, a Nigerian initiative, and Germany is proud to support it through funding and technical cooperation under the International Climate Initiative,” Jansen said.

Jansen added that the focus will now shift to execution, with an emphasis on turning policy into bankable projects that deliver measurable outcomes for citizens.

The plan targets key sectors such as power, transport, agriculture, waste and industry, while promoting inclusion through support for women, youth and small businesses, positioning Nigeria for a low‑carbon and climate‑resilient future.

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