Nigeria’s green economy offers immediate investment opportunities - Kalu

Nigeria presents significant and immediate investment opportunities within its burgeoning green economy, according to Benjamin Kalu, the Deputy Speaker of the House of Representatives. Addressing international financiers and development partners at the Nigeria Climate Investment Summit in London, Kalu urged them to capitalize on emerging prospects across key sectors.

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The opportunities before investors are practical, immediate and diverse. They include distributed renewable energy, solar mini-grids, battery storage, clean cooking solutions, electricity transmission and distribution infrastructure, and industrial energy efficiency.

The summit, a highlight of London Climate Action Week, focused on "Catalysing Nigeria’s Climate Policy Progress into Financial Flows for Green Projects." Kalu outlined diverse investment areas, including distributed renewable energy, solar mini-grids, battery storage, clean cooking solutions, and enhancements to electricity transmission and distribution infrastructure. He also pointed to industrial energy efficiency as a promising sector.

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They include climate-smart agriculture, irrigation, cold-chain logistics, food processing and resilient rural infrastructure; investments that can strengthen food security while improving incomes for millions of Nigerians.

Beyond energy, Kalu highlighted opportunities in climate-smart agriculture, such as irrigation systems, cold-chain logistics, and food processing, which can bolster food security and improve incomes. Investments in electric mobility, mass transit, and low-carbon urban transport were also promoted. Furthermore, waste management, waste-to-value systems, methane reduction, circular-economy enterprises, and green manufacturing were presented as viable avenues for investors.

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They also include climate adaptation: flood-control systems, resilient drainage, coastal protection, nature-based solutions, climate-resilient housing and infrastructure that can protect communities and productive assets from the growing effects of climate change.

Kalu stressed that Nigeria faces both mitigation and adaptation challenges due to climate change. He called for climate finance to support emissions reduction while also addressing the realities confronting communities affected by flooding, land degradation, food insecurity, and climate-related displacement. "Our people are already living with the consequences of extreme weather, flooding, land degradation, food insecurity and climate-related displacement," Kalu stated, underscoring the need for investments that build human resilience alongside emission cuts.

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This is especially important because Nigeria’s climate challenge is both a mitigation challenge and an adaptation challenge. Our people are already living with the consequences of extreme weather, flooding, land degradation, food insecurity and climate-related displacement. Climate finance must therefore support both emissions reduction and human resilience.