Tinubu okays carbon market framework, eyes $3bn yearly inflow by 2030
President Bola Ahmed Tinubu has approved the full rollout of Nigeria’s national carbon market framework, a landmark climate policy projected to generate up to $3 billion in annual revenue by 2030 from carbon credits and emissions trading. The move aims to position Nigeria as a leading player in global carbon markets while boosting non oil revenue and supporting the energy transition. Under the framework, the Federal Government will establish a national carbon registry, mandate emissions reporting by companies and introduce phased compliance measures aligned with Nigeria’s climate commitments. These measures are tied to interim emissions reduction targets up to 2035 and the long term goal of achieving net zero emissions by 2060. To attract investors, the policy provides generous incentives, including tax exemptions on carbon credit earnings for up to 10 years, accelerated capital allowances for low carbon assets and […]