The National Council on Climate Change says Nigeria is committed to an unconditional 29 per cent reduction in greenhouse gas emissions by 2035.

NCCC director general, Omotenioye Majekodunmi, disclosed this during the pre-summit virtual webinar organised by the Nigerian Economic Summit on Thursday.

Ms Majekodunmi, who was represented at the event by NCCC chief scientist Adesola Olatunde, said climate interventions must yield measurable economic returns and sustainable jobs.

“We are committed to an unconditional 29 per cent reduction in greenhouse gas emissions by 2030 using domestic resources, scaling to a 32 per cent conditional reduction by 2035 as international climate technology transfers are unlocked.

“To deliver growth that works, every climate intervention must yield measurable economic returns, sustainable jobs, higher productivity and protect livelihoods across all political zones,” she stated.

Ms Majekodunmi noted that the Nationally Determined Contribution 3.0 represents a mechanism aimed at driving the country towards the statutory target of net zero emissions by 2060.

“This Nationally Determined Contribution 3.0 also serves as the primary medium-term mechanism that is driving Nigeria towards a statutory target of net zero emissions by 2060. This already shows us that we have a long-term alignment,” she added.

According to her, delivering on this commitment across energy, transport, agriculture, forestry, waste and industry requires an estimated $337 billion through 2035, less than 10 years from now. 

Ms Majekodunmi explained that over 80 per cent of the capital must be mobilised through private investment, commercial debt and international carbon finance. 

The director noted that the NCCC has embarked on frameworks that unlock boundless commercial opportunities, particularly in renewable energy and power generation. 

“This scale demonstrates that the NDC isn’t a list of costs; it’s a $337 billion investment prospectus for the Nigerian economy. To convert these billions into active projects, the NCCC, alongside our institutional partners, is driving frameworks that unlock concrete commercial opportunities. 

“We have seen a number of these in renewable energy and power generation. We are targeting over 50 per cent renewable energy contribution to our energy mix by 2030 through 2035. 

“This opens a vast market for distributed commercial and industrial solar, regional mini-grids, energy storage systems and local assembly of clean energy components,” Ms Majekodunmi added.

The pre-summit event focused on bridging educational gaps and building workforce readiness ahead of the NESG 32nd economic summit scheduled for October.