20th March 2026
The Chairman of the House of Representatives Committee on Renewable Energy, Afam Victor Ogene, has said Nigeria holds an estimated $104 billion climate-smart investment opportunity by 2030, stressing that unlocking the potential will require innovative and specialised financing structures. Speaking at a press conference at the National Assembly Complex in Abuja, Ogene made the remarks during the unveiling of plans to establish Nigeria’s first dedicated Green and Climate Finance Bank.
He noted that the investment potential spans renewable energy, climate-smart agriculture, green buildings, sustainable waste management, sustainable transport, and climate-resilient infrastructure. According to him, conventional banking systems have struggled to mobilise capital at the scale and speed needed to support Nigeria’s climate commitments and energy transition, as many climate-aligned projects are often viewed as high-risk and long-term investments.
Ogene described the proposed Green and Climate Finance Bank as a private sector-driven initiative designed to close the financing gap by mobilising both domestic and international capital. Co-Founder of Quantum Partners, Oluwafemi Adedipe, said Nigeria remains one of the most climate-vulnerable countries but also a promising green investment frontier, noting that renewable energy and circular-economy ventures present significant opportunities for sustainable economic growth.
Also speaking, Co-Founder Dr. Samuel Ndubuisi-Brown said the promoters aim to raise $100 million in founding capital to secure regulatory approvals, build digital infrastructure, and commence lending operations, with a projected launch in the first quarter of 2027. He said the bank will focus primarily on SMEs and climate-focused initiatives, while calling on development partners, pension funds, sovereign investors, and other institutional investors to support the initiative.