Nigeria’s climate investment potential could reach an estimated US$104 billion by 2030, according to Dr. Oluwafemi Adedipe, financial expert and co-founder of Quantum Partners, promoters of the proposed Green Climate Bank project.
Adedipe, while briefing journalists in Abuja, stressed that opportunities alone do not guarantee progress. He explained that capital must be mobilised, risks structured, and projects financed to unlock the country’s green growth potential.
“Today, we formally introduce the Green and Climate Finance Bank for Nigeria, an innovative financial institution designed to mobilise capital for Nigeria’s transition to a low-carbon, green economy,” Adedipe said.
He noted that Nigeria is both one of the most climate-vulnerable countries globally and one of the most promising frontiers for green investment. Floods, drought, desertification, and energy insecurity pose serious threats, while renewable energy, climate-smart agriculture, green infrastructure, and circular economy ventures present transformative opportunities.
“Our objective in proposing this Bank is simple but ambitious. We intend to attract private capital at scale while delivering measurable environmental and social impact,” he added.
Co-founder of Quantum Partners, Dr. Samuel Ndubuisi-Brown, revealed that the next step is to raise US$100 million in founding capital. This, he said, will enable completion of regulatory approvals, establishment of core systems and digital infrastructure, and commencement of lending and project financing, with operations targeted for 2026.
Meanwhile, the House of Representatives has thrown its weight behind the initiative.
Chairman of the House Committee on Renewable Energy, Hon. Afam Ogene, described the proposal as both “timely and strategic,” noting that the bank would serve as a critical financial institution to mobilise private capital, deploy innovative risk-sharing tools, and provide long-term financing tailored to renewable energy and other climate-aligned sectors.
“It will support MSMEs, women-led businesses, green innovators, and infrastructure developers who are building the foundation of a sustainable economy,” Ogene said.
He emphasised that the initiative aligns with the Federal Government’s renewable energy policy and represents a private sector-led innovation with strong governance frameworks consistent with global environmental, social, and transparency standards.
“As legislators, our role is to create an enabling environment. We will continue to support policies that encourage renewable energy deployment, improve investor confidence, and promote sustainable finance frameworks. We stand ready to engage constructively with regulators, development finance institutions, and private investors to ensure that this initiative aligns with national priorities and global best practice,” Ogene added.
By Aaron Ossai, Abuja
