President Bola Tinubu has reaffirmed Nigeria’s commitment to pursuing industrial growth alongside climate action, insisting that the country will not sacrifice industrialisation in its push towards decarbonisation.
Speaking at the Global Sustainability Summit in the United Arab Emirates on Tuesday, Tinubu said Nigeria, as an emerging economy in the Global South, understands the need to strike a careful balance between expanding its industrial base and reducing carbon emissions.
He said, “The foundation of every modern economy is electricity. As an emerging economy in the Global South, we understand the delicate balance between industrialisation and decarbonisation, so that one is not pursued at the expense of the other.
“We are calling for a fundamental shift in global financial architecture. A move away from the restrictive requirement of sovereign guarantees, which unfairly penalize developing countries. Instead, the focus should be on blended finance and forced loss capital mechanisms that allow private sustainable capital flow direct into green projects without straining national balance sheets.”
Tinubu noted that in 2025 Nigeria took significant regulatory steps to strengthen climate governance while laying the groundwork for industrial expansion.
He said, “In year 2025, Nigeria took major regulatory steps to strengthen our climate governance and sustainability. We adopted the National Carbon Market Activation Policy (NCMAP) and launched the National Carbon Registry to improve our Measurement, Reporting, and Verification (MRV), the System and Investor Safeguards. To translate ambition to impact, we are modernising Nigeria’s energy architecture.
“The Electricity Act of year 2023 now provides for decentralised, inclusive energy delivery. In practical terms, this means sustainable power to rural communities, off-grid health facilities, educational institutions, markets, and the underserved communities. We also recognise that the adoption of artificial intelligence, AI, to optimise efficiency is no longer a matter of the future.
“Therefore, as we work to ensure a stable and reliable energy supply, we are actively seeking partnerships that promote technology transfer, knowledge exchange, and innovation. Nigeria has launched a climate and green industrialisation investment label to unlock $25 to $30 billion annually in climate finance. The Nigerian sovereign investment authority has launched a $500 million distributed renewable energy fund while the World Bank is implementing the $750 million, which will expand clean electricity access to power to over 17.5 million people. We are deepening access to green finance. The 50 billion naira sovereign green bond issued in 2025 attracted 91 billion naira in subscriptions, while the Lagos state government green bond was oversubscribed by 97.7%. Nigeria’s Energy Transition Plan (ETP) integrates energy access, climate mitigation, industrial growth, and social development into a single coherent framework, achieving net zero emission by 2060 while delivering universal energy access.”
Tinubu also pointed to Nigeria’s vast deposits of critical minerals, particularly lithium, as a key pillar of future industrialisation. He invited global partners to invest not just in extraction but in local processing and value addition, saying this approach would create jobs and strengthen domestic industrial capacity.
While speaking, Tinubu also acknowledged Nigeria’s growing strategic partnership with the UAE, especially in renewable energy, clean power investments, sustainable infrastructure, climate-smart agriculture and technology transfer. He announced the successful conclusion of negotiations on a Comprehensive Economic Partnership Agreement between both countries, describing it as a historic milestone that will deepen trade, unlock sustainable investments and strengthen cooperation across key sectors.
He said, “We welcome deeper engagement with UAE, sovereign investors, development partners, and private sector leaders to accelerate flagship projects that reflect all system goals. All this approach must be sustained where energy, finance, technology, and people work in synergy. In the spirit of partnership, it is with great pleasure that I announce that Nigeria and the United Arab Emirates have successfully concluded negotiations on the Comprehensive Economic Partnership Agreement (CEPA).
“This historic and strategic milestone marks a new era in our bilateral relationship. The agreement will deepen trade, unlock sustainable investments, and strengthen cooperation in renewable energy, aviation, logistics, agriculture, digital trade, and climate smart infrastructure, creating enduring opportunities for our people and businesses. As we open this new chapter, Nigeria will proudly co-host Investopia in February in Lagos with the United Arab Emirates.”
Melissa Enoch
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