The Federal Government has unveiled a $100 million carbon project in partnership with Orteva, the Delta State Government, and Eighth Versa, marking a major stride towards Nigeria’s green growth and sustainability agenda.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced the launch on Tuesday in Abuja during a meeting with a delegation from Orteva.
According to a statement signed by Mohammed Manga, Director of Information and Public Relations at the Ministry of Finance, the project aims to unlock climate finance, generate carbon credits, and fast-track Nigeria’s transition to a low-carbon economy.
Edun commended the initiative, describing it as a “timely intervention” that aligns with President Bola Tinubu’s vision for green growth and economic diversification.
He emphasized that projects of this nature will help broaden Nigeria’s revenue base beyond oil, attract foreign exchange, and create employment opportunities.
“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 minister noted. “This will position Nigeria as a leading hub for credible carbon trading in Africa.”
Edun further reaffirmed the government’s commitment to establishing a transparent carbon market framework with sound governance and fair pricing structures.
READ ALSO: Wale Edun Showcases Nigeria’s Energy Investment Prospects at SEforALL Forum
“For the private sector, this represents an opportunity to invest in initiatives that protect the environment while delivering sustainable economic returns,” he added.
Manga, in his remarks, said the Orteva carbon project underscores Nigeria’s determination to integrate sustainability into its economic model.
He noted that the Ministry of Finance will continue to provide the fiscal and policy backing required to attract both local and foreign investments in green energy initiatives.
He described the Orteva initiative as “a new frontier for Nigeria’s economy—where sustainability meets profitability to power inclusive growth.”