Oritsegbubemi Omatseyin
Lagos — The Federal Government has taken a significant step towards realizing its green growth agenda with the $100 million Orteva Carbon Project, a landmark initiative aimed at unlocking climate finance, generating carbon credits, and accelerating the country’s transition to a sustainable economy.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, disclosed this in his office in Abuja when he received a delegation from Orteva, in partnership with the Delta State Government and Eighth Versa, for strategic discussions on the project.
Commending the project, the Minister described it as a timely intervention fully aligned with President Bola Ahmed Tinubu’s vision of green growth and sustainable economic transformation.
He stressed that initiatives of this scale are central to Nigeria’s Energy Transition Plan and will diversify revenue streams beyond oil, attract foreign exchange, and create jobs.
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, positioning Nigeria as a leading hub for credible carbon trading in Africa.
Edun assured that the Federal Government is committed to building a transparent carbon market framework with strong governance and pricing mechanisms. He added that for the private sector, this represents an opportunity to invest in projects that protect the environment while delivering long-term economic returns.
The Federal Ministry of Finance reaffirmed its readiness to provide the policy, fiscal, and credit-enhancement structures needed to attract both domestic and international financing. The Orteva Carbon Project signals Nigeria’s new economic frontier, where sustainability and profitability converge to power inclusive growth.
