DIRECTOR-GENERAL of the Energy Commission of Nigeria (ECN), Dr. Mustapha Abdullahi, and the Minister of Innovation, Science, and Technology, Chief Geoffrey Uche Nnaji, recently held a strategic meeting with a delegation from the Islamic Development Bank (ISDB) to explore funding opportunities for renewable energy projects in Nigeria.
The discussions focused on securing climate finance and investment mechanisms to accelerate the country’s transition to sustainable energy. Among the key initiatives presented were the Clean Cooking Policy, the development of a solar photovoltaic (PV) plant, the establishment of a methanol plant, and plans for a green hydrogen facility. These projects align with Nigeria’s broader commitment to energy diversification and climate action.
Dr Abdullahi underscored the importance of innovative financing solutions, including bonds, grants, and equity participation, to support these capital-intensive initiatives. He emphasized the urgency of mobilizing substantial investments to drive sustainable energy development in the country.
Chief Nnaji welcomed ISDB’s commitment to renewable energy in Nigeria, particularly highlighting the clean cooking initiative’s potential to improve public health and economic well-being, especially for women and children reliant on traditional cooking methods.
Mr. Hammad Hundai, head of the ISDB delegation, reaffirmed the Bank’s dedication to partnering with Nigeria on these critical energy projects. He assured the Nigerian government of ISDB’s willingness to collaborate with the Energy Commission and the Ministry to explore viable funding pathways.
At the 2025 Abu Dhabi Sustainability Week (ADSW), President Bola Tinubu reiterated Nigeria’s leadership in green project financing, emphasizing the country’s commitment to fostering an investor-friendly environment.
“Nigeria became the first country in Africa to initiate funding of green projects through Sovereign Green Bond proceeds, the third issuance of which is in progress. We urge investors to partner with us in this regard. Our administration remains committed to providing an enabling environment for businesses to thrive in Nigeria,” Tinubu stated.
He further highlighted Nigeria’s strategic approach to leveraging technology and global partnerships to tackle environmental challenges.
Since launching its first Sovereign Green Bond in 2017, Nigeria has remained at the forefront of green finance in Africa, raising funds to support environmentally sustainable projects and drive the country’s clean energy transition.
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