Federal Government Launches $100m Carbon Project To Drive Green Growth

The federal government has unveiled a $100 million Orteva Carbon Project designed to accelerate Nigeria’s green growth agenda and position the country as a leading hub for credible carbon trading in Africa.
Minister of finance and coordinating minister of the economy, Wale Edun, announced the initiative while receiving a delegation from Orteva in partnership with the Delta State government and Eighth Versa in Abuja.
According to a brief by Mohammed Manga, Director of Information and Public Relations at the ministry, the project aims to unlock climate finance, generate carbon credits, and accelerate Nigeria’s transition to a sustainable economy.
Commending the effort, Edun described it as a “timely and strategic intervention” that aligns with President Bola Tinubu’s vision for green growth and sustainable economic transformation.
“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,” the statement said, adding that the initiative will diversify Nigeria’s revenue base, attract foreign exchange inflows, and create thousands of jobs.
Edun reiterated the government’s commitment to establishing a transparent and well-governed carbon market framework with credible pricing mechanisms, saying, “For the private sector, this represents an opportunity to invest in projects that protect the environment while delivering long-term economic returns.”
Manga added that the finance ministry remains ready to provide the policy, fiscal, and credit-enhancement structures required to attract both domestic and international financing, describing the Orteva Carbon Project as “a signal of Nigeria’s new economic frontier where sustainability and profitability converge to drive inclusive growth.”