FG announces net‑zero investment strategy aiming for carbon neutrality by 2060

By Progress Godfrey 

The Federal Government introduced its Net‑Zero Investment Plan in Abuja on Wednesday, setting a target of carbon neutrality by 2060 while encouraging 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 attracted senior officials, development partners and private‑sector participants, aligning policy direction with financing interests 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,” he said.

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

He 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.

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 added that 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,” she said.

Jansen also said 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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