The Federal Government has launched a $100 million carbon project in partnership with Orteva, the Delta State Government, and Eighth Versa a major step toward unlocking climate finance and advancing Nigeria’s green growth agenda.
Wale Edun, Minister of Finance and Coordinating Minister of the Economy, announced the initiative on Tuesday when he received a delegation from Orteva in Abuja.
According to Mohammed Manga, Director of Information and Public Relations at the ministry, the project is designed to generate carbon credits, attract investments, and accelerate Nigeria’s transition to a sustainable economy.
Edun described the launch as a timely intervention that aligns with the administration’s vision for sustainable economic transformation. He noted that large-scale carbon projects will diversify revenue streams beyond oil, attract foreign exchange, and create jobs.
“With components ranging from mangrove conservation to biochar production, the project is expected to generate between $350 million and $2.8 billion in carbon credit revenue, positioning Nigeria as a leading hub for credible carbon trading in Africa,” the statement said.
Edun reaffirmed the Federal Government’s commitment to building a transparent carbon market framework with strong governance and pricing mechanisms.
“For the private sector, this represents an opportunity to invest in projects that protect the environment while delivering long-term economic returns,” he added.
Manga noted that the Orteva carbon project signals Nigeria’s new economic frontier — one where sustainability and profitability converge to power inclusive growth. He said the ministry is ready to provide the policy, fiscal, and credit-enhancement structures needed to attract both domestic and international financing.
