The federal government has introduced a $100 million Orteva Carbon Project, reinforcing its commitment to driving Nigeria’s green growth and sustainability agenda.
Gatekeepers News reports that the initiative was unveiled by Wale Edun, Minister of Finance and Coordinating Minister of the Economy, during a meeting with a delegation from Orteva, held in partnership with the Delta State Government and Eighth Versa, in Abuja on Tuesday.
According to a statement signed by Mohammed Manga, Director of Information and Public Relations at the Ministry of Finance, the project seeks to unlock climate finance, generate carbon credits, and accelerate Nigeria’s transition toward a low-carbon and resilient economy.
Edun hailed the development as a strategic and timely intervention that aligns with President Bola Ahmed Tinubu’s broader vision for a greener and more diversified economic structure.
He emphasised that large-scale carbon initiatives such as this are crucial to Nigeria’s Energy Transition Plan, as they help reduce reliance on oil revenues, attract foreign exchange, and create employment opportunities across various sectors.
The minister said, “With components ranging from mangrove conservation to biochar production, the project is expected to yield between $350 million and $2.8 billion in carbon credit revenue, placing Nigeria at the forefront of credible carbon trading in Africa.”
The minister reaffirmed the government’s dedication to establishing a transparent and well-governed carbon market framework, ensuring proper pricing mechanisms and accountability.
He added, “For the private sector, this represents an opportunity to invest in projects that protect the environment while offering sustainable economic returns.”
Manga concluded that the Orteva Carbon Project marks a new phase in Nigeria’s economic transformation, where environmental responsibility and profitability work hand in hand to deliver inclusive green growth.
