FG targets $500m funding to strengthen climate investment, others

The Federal Government is targeting $500m in climate financing to strengthen climate-resilient infrastructure, improve adaptation measures and support other climate-related policy priorities as Nigeria intensifies efforts to address the growing threats of flooding and other extreme weather events.

The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this at the annual meeting of the Alliance for Hydromet Development in Lagos on Tuesday, where stakeholders called for stronger partnerships, innovative financing and sustained investment in weather, water and climate services.

The meeting, themed ‘Partnership, Innovation and Sustainable Investment in Weather, Water and Climate Service,’ focused on how reliable climate information, adequate funding and effective collaboration could protect lives, safeguard infrastructure and strengthen economic resilience.

Keyamo said the Federal Government was developing mechanisms to mobilise domestic and international resources for climate-related investments, including the Nigerian Climate Investment Platform, which was established to unlock substantial funding for climate action.

He said, “The Federal Government has developed mechanisms for mobilising domestic and international resources for climate-related investments, including the Nigerian Climate Investment Platform, which was established to help unlock substantial finance in this regard. It is targeting $500 million for climate-resilient infrastructure, adaptation and other policy areas.”

The minister stressed that effective weather forecasting and early warning systems required sustained financial support to translate scientific information into practical interventions that could reduce the impact of climate-related disasters.

He identified the establishment of the Anticipatory Action Task Force on Floods in 2025 as an important step towards improving national preparedness, noting that seasonal climate predictions produced by the Nigerian Meteorological Agency were contributing to planning and efforts to mitigate flooding.

“The establishment of the anticipatory action task force on floods in 2025 represents an important step in this direction, with the seasonal climate prediction produced by NiMet contributing to national preparedness and planning,” he said.

Keyamo also highlighted the accreditation of the Nigerian Sovereign Investment Authority as a direct access entity to the Green Climate Fund.

He described the development as a significant step towards strengthening Nigeria’s capacity to access and deploy international climate finance.

He said the Development Bank of Nigeria was working to strengthen its institutional capacity to access climate-financing opportunities, while the Federal Government continued to explore green bonds, carbon market mechanisms and other innovative financing instruments.

According to him, the government had also approved a national carbon market framework and was pursuing the operationalisation of the Climate Change Fund to broaden financing options for climate-related interventions.

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The minister further cited the National Economic Council’s approval of N83.2bn in June 2026 for anticipatory action interventions aimed at mitigating the anticipated effects of flooding and other climate-related emergencies across the country.

“He said, “Specifically, the governments have approved a national carbon market framework and the operationalization of the Climate Change Fund.

Similarly, in June 2026, the National Economic Council approved N83.2bn for anticipatory action task force interventions aimed at mitigating the anticipated impact of flooding and other climate-related emergencies across the country.”

He, however, warned that mobilising funds alone would not be sufficient without ensuring that the resources were channelled into projects capable of addressing real development challenges.

He stressed, “These developments are significant, as climate finance must ultimately translate into projects that address real development challenges.

“We must therefore strengthen the connection between climate science, climate action, sectoral development plans and investment preparedness.”

Keyamo added that institutions such as NiMet must be involved in defining climate risks, identifying adaptation needs and developing technically credible investment proposals that would protect infrastructure and strengthen economic resilience.

Also speaking at the meeting, the Director-General of

Nigerian Meteorological Agency, Prof. Charles Anosike, raised concerns about the significant gaps in weather and climate observation infrastructure across Africa, warning that inadequate data remained a major obstacle to accurate forecasting and effective disaster preparedness.

Anosike said the continent accounted for approximately 30 per cent of the global weather observation deficit, with only about 12.5 per cent of the minimum weather station density recommended by the World Meteorological Organisation.

He added that the continent had only about one-eighth of the minimum weather station density recommended by the WMO, a situation that continued to undermine the quality and reliability of weather forecasts.

“Out of 53 countries, including 36 Least Developed Countries and Small Island Developing States, compliance rates stand at just seven per cent for surface land stations and nine per cent for upper-air stations,” Anosike said.