The Development Bank of Nigeria (DBN) has unveiled the Green Declaration, a strategic move aimed at accelerating the country’s energy transition through climate-smart investments, inclusive finance, and collaborative partnerships. The initiative reflects DBN’s growing commitment to positioning green finance as a catalyst for sustainable economic growth rather than a regulatory burden.
At the signing ceremony, DBN’s managing director described the Green Declaration as a call to action that urges institutions to align their financial flows with Nigeria’s climate targets, including its Nationally Determined Contributions (NDCs) and the Paris Agreement. The goal is to mobilize capital from public and private sectors, multilateral organizations, and grassroots actors in order to support a national shift toward clean energy.
The declaration prioritizes investments that reduce Nigeria’s dependence on fossil fuels while promoting renewables. It seeks to protect natural ecosystems, stimulate green job creation, and provide access to climate finance for underserved groups, including women, youth, rural entrepreneurs, and low-income communities. It also encourages innovation and policy alignment, calling for supportive regulatory frameworks to enable the expansion of clean energy solutions across the country.
DBN highlighted that these efforts come at a critical time, as Nigeria remains highly vulnerable to the growing impacts of climate change. With Earth’s average temperature rising by 1.2°C since the industrial era, the country faces increasing threats from floods, droughts, and other extreme weather events that exacerbate poverty and social tensions. Yet, Nigeria’s energy transition has been slowed by limited funding and institutional capacity.
By advancing the Green Declaration, DBN aims to bridge these financial gaps. The bank believes that well-structured financial mechanisms can help fund projects that cut greenhouse gas emissions, promote sustainable business practices, and build long-term climate resilience. According to the bank, green finance must be inclusive and accessible if it is to succeed in transforming the country’s development landscape.
The signing ceremony featured stakeholders from institutions including Sterling Bank, Stanbic IBTC, the Green Climate Fund (GCF), the African Development Bank, the World Bank, and the Central Bank of Nigeria. All signed a commemorative board pledging their commitment to the Green Declaration’s goals. The signed board will be displayed at DBN’s headquarters as a lasting symbol of collective responsibility toward a sustainable future.
