There is no doubt that Nigeria is confidently pursuing it targets in curbing greenhouse gas emissions and has become a major signatory to key international agreements to reduce emissions.
The country’s National Climate Change Policy (NCCP) and the Energy Transition Plan (ETP), essentially seeks to promote private sector engagement by fostering participation in climate actions and encouraging investments in low-carbon technologies and sustainable practices. Through mechanisms like sustainability disclosure guidelines for listed companies and a commitment to blended finance, Nigeria aims to leverage private capital and expertise to achieve its greenhouse gas reduction targets and build a climate-resilience economy.
The National Climate Change Policy (NCCP) policy document outlines strategies for climate change mitigation and adaptation, emphasizing the need for broad national participation, including the private sector.
Also, the Climate Change Act (2021), legislation established the National Council on Climate Change, a key body that coordinates and oversees national climate change efforts, including private sector involvement, while the Energy Transition Plan (ETP), sets out a path to net-zero emissions and includes strategies for sectors like power, oil and gas, and transport, requiring private sector support for implementation.
Nigeria’s Long-Term Vision (LT-LEDS), is committed to achieve net-zero by 2060 and was elaborated in a long-term vision, which involves the private sector in developing and implementing solutions.
In promoting Private Sector Engagement Mechanisms, the country actively welcomes financial and technical support from private sectors to implement the NCCP and achieve its climate commitments.
For sustainability reporting and disclosure, the Nigerian Exchange regulations is committed to promoting sustainable business practices through its Sustainability Disclosure Guidelines, encouraging companies to report on their environmental performance.
The NGX has played a leading role in developing guidelines for issuing green bonds, which can be a tool to attract private investment into green projects.
The government recognizes the importance of blended finance (using development finance to attract private capital) to de-risk investments and unlock domestic private sector action in areas like adaptation projects.
The policies facilitate partnerships and collaborations with private sector operators to implement climate change initiatives effectively.
By incorporating private sector views and needs into policy frameworks, Nigeria creates an environment where businesses are motivated to participate in climate action.
Integrating New Policy Plan
Just recently the government released a new sector-wide climate plan to 2035, committing to cut greenhouse gas (GHG) emissions by 29 per cent by 2030 and 32 per cent by 2035 compared with 2018 levels. The targets are conditional on international financial support, while the country continues to back natural gas as a transition fuel.
The new nationally determined contribution (NDC) a climate plan submitted to the UN replaces Nigeria’s earlier goal of a 47 per cent cut by 2030 against a business-as-usual (BAU) scenario.
The BAU scenarios typically assume emissions based on current policies, leaving room for potential increases.
Nigeria’s updated targets set absolute emissions cuts in line with its net-zero goal by 2060. The country is now seeking to achieve emissions reduction of 184.9 mn t of CO2 equivalent (CO2e) in 2035 from 573.5 mn t of CO2e in 2018.
The new plan covers energy, industrial processes and product use (IPPU), agriculture, land-use change and forestry (LULUCF), transport and waste.
“In the energy sector, the goal to achieve a 60pc reduction in fugitive emissions (leaks and venting) from the oil and gas industry is a major focus with a mitigation [emissions cuts] potential of 27.3mn t CO2e,” according to the NDC. The NDC notes that the country’s transport sector has a mitigation potential of 44.mn t CO2e “from the widespread adoption of electric and CNG vehicles”.
Nigeria aims to lower its deforestation rate by 60pc, offering an emission cut potential of 304.8mn t CO2e. Fuel combustion targets include a 37pc electricity and 35pc LPG share in commercial cooking, and 27pc electricity and 31pc LPG in rural households.
In urban households, electricity takes a 55pc share of energy use and LPG 35pc. The NDC also targets a complete phase-out of kerosine for lighting by 2035.
The plan reiterates Nigeria’s reliance on oil and gas, which account for two-thirds of government revenue and 90pc of foreign exchange earnings. The country expects the sector to grow, while “adopting sustainability measures” such as phasing out routine flaring and cutting fugitive emissions. “Natural gas use will be boosted, serving as a key transition fuel in Nigeria’s move towards increased adoption of renewable energy,” the NDC said.
Measures to cut emissions also include “the adoption of renewables” for electricity, with a goal of 100 per cent coverage by 2030. Nigeria aims to raise the share of on-grid and off-grid renewable capacity to 52 per cent by 2035, supported by natural gas as a “transition fuel”.
The government estimates the country will need $337bn to implement the NDC, including $195bn for mitigation and $141.5bn for adaptation. Adaptation refers to adjusting to the effects of climate change where possible.
Around 80pc of the plan’s commitments are conditional on international finance. The plan also estimates that the country will “unlock a carbon market worth between $736mn and $2.5bn by 2030.”
Nigeria plans to release an implementation plan following the NDC.
Private Sector Investment
A few Nigerian companies are adopting strategies and making significant progress in boosting energy efficiency.
For instance, Rite Foods Limited, Nigeria’s leading food and beverage company, has restated its commitment to environmental stewardship by driving innovations that continue to minimize greenhouse gas emissions in its manufacturing operations.
The company made the commitment recently while conducting news men round its energy Centre at its factory at Ososa, Ogun State as part of activities to commemorate the World Ozone Day.
General manager, Operations, Olufemi Ajileye, said the company will continue to raise the bar in sustainable manufacturing with world-class processes that conserve energy, protect the environment, and reduce carbon emissions.
At its state-of-the-art factory, the company has deployed fully automated systems, energy-efficient technology, renewable energy and advanced carbon-free infrastructure designed to safeguard the ozone layer. This reflects Rite Foods’ unwavering commitment to eco-friendly operations.
Ekuma Eze, Head of Corporate Affairs and Sustainability, said the company built sustainability into the design of its world class production facility, starting from an energy strategy with a unique energy mix: 92 per cent gas, 6.5 per cent diesel, and 1.5 per cent solar.
According to him, the company’s use of low emission technologies and infrastructure has ensured that its carbon intensity is way below 800gCO₂/lpb, well below the industry average of 1300–2500 gCO₂/lpb, giving Rite Foods one of the lowest emission levels in the sector.
“This demonstrates our commitment to cleaner energy sources, cutting greenhouse gas emissions, and protecting the ozone layer,” said EZE.
Ajileye further noted that the company’s cooling plant is equipped with advanced safety systems that ensures zero ammonia leaks, thus zero harmful emissions.
This not only protects the environment but also guarantees the highest standards of product quality and safety for people and the planet.
Rite Foods’ environmental stewardship goes beyond factory operations. Through its CSR pillars—Education, Youth Empowerment, Environmental Stewardship, and Community Development (EYEC)—the company continues to invest in sustainable programmes that touch lives.
Its flagship initiative, RiteOnTheBeach, has made significant strides in ecological conservation, especially along Lagos’ coastline communities. The programme promotes plastic waste recovery, recycling, and community-led clean-ups that create jobs and fund school supplies for children in underserved coastal communities.
These efforts underscore Rite Foods’ commitment to circular economy practices that reduce waste, empower communities, and protect future generations.
