FG targets $500m climate investment as NiMet flags data gap – Daily Trust

The Federal Government has reiterated its dedication to strengthening Nigeria’s climate forecasting and climate resilience methods, concentrating on $500 million in climate-related investments and approving N83.2 billion for interventions to mitigate flooding and different climate-related emergencies.

The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this on the 2026 Annual Meeting of the Alliance for Hydromet Development in Lagos, the place stakeholders known as for elevated investment in climate commentary infrastructure, early warning methods and climate data companies to guard lives, companies and important infrastructure.

Keyamo stated the initiatives shaped a part of efforts to enhance Nigeria’s capability to anticipate weather-related disasters, safeguard investments and help sustainable financial growth.

He defined that the federal government had developed mechanisms to mobilise home and worldwide assets for climate-related investments, together with the Nigerian Climate Investment Platform, which targets $500 million for climate-resilient infrastructure, adaptation and different coverage priorities.

According to him, the accreditation of the Nigerian Social Investment Authority as a direct entry entity to the Green Climate Fund would strengthen the nation’s capability to entry and deploy worldwide climate finance.

He added that the Development Bank of Nigeria was working to strengthen its institutional capability to evaluate climate finance alternatives, whereas the federal government continued to discover inexperienced bonds, carbon market mechanisms and different revolutionary financing devices.

The minister additional disclosed that the federal government had accepted a nationwide carbon market framework and was pursuing the operationalisation of a climate change fund.

He stated the National Economic Council, in June 2026, accepted N83.2 billion for participatory motion process power interventions geared toward mitigating the anticipated affect of flooding and different climate-related emergencies throughout the nation.

“These developments are significant, as climate finance must ultimately translate into projects that address real developmental issues,” Keyamo stated.

He careworn that climate, water and climate companies needs to be recognised as important nationwide infrastructure, noting that sustained investment in forecasting and early warning methods was important to defending lives, safeguarding investments and supporting knowledgeable decision-making.

Keyamo stated NiMet’s Seasonal Climate Prediction continued to contribute to nationwide preparedness and planning by enabling related authorities to take preventive measures earlier than climate hazards escalated into disasters.

The Director-General of the Nigerian Meteorological Agency (NiMet), Prof. Charles Anosike, warned that Africa’s climate commentary gaps continued to undermine forecast accuracy and expose weak communities to climate-related disasters.

Anosike stated Africa accounted for about 30 per cent of the worldwide deficit in climate and climate observations, whereas the continent operated solely 12.5 per cent of the minimal climate station density beneficial by the World Meteorological Organisation (WMO).

He famous that compliance with beneficial commentary requirements throughout 53 international locations, together with Least Developed Countries and Small Island Developing States, stood at seven per cent for floor land stations and 9 per cent for upper-air stations.

The NiMet chief, who can be Nigeria’s Permanent Representative with the WMO, stated the scenario was significantly regarding for Nigeria due to its huge landmass of greater than 900,000 sq. kilometres and the restricted availability of ordinary meteorological stations in rural, agricultural and distant border communities.

He known as on growth banks, monetary establishments, non-public traders, philanthropic organisations and climate funds to help investments in climate commentary networks, radar infrastructure, distant sensing methods and climate data platforms.

Also talking, the consultant of the Lagos State Governor and Special Adviser on Maritime and Blue Economy, Oluwadamola Emmanuel, urged elevated investment in climate forecasting, early warning methods and resilient infrastructure, significantly in weak coastal communities.

He stated Lagos, as a coastal megacity and Nigeria’s business hub, confronted recurring dangers from flooding and intense rainfall, warning that insufficient preparedness may have extreme financial and social penalties.

Emmanuel cited the 2022 floods in Nigeria, which displaced greater than 2.4 million folks, claimed over 700 lives and induced an estimated $8.4 billion in harm, as proof of the price of climate-related disasters.

The Director-General of the World Meteorological Organisation, Dr. Abdulla Ahmed Al Mandous, additionally urged governments and growth companions to take a position extra in climate forecasting and early warning methods to guard lives, livelihoods and infrastructure from more and more extreme climate occasions.

He recognized 4 priorities: elevated funding, stronger authorized frameworks, wider partnerships and regional cooperation.

According to him, initiatives below the ECOWAS Hydromet Initiative in Nigeria may generate returns of 19 to at least one, urging African international locations to strengthen native experience and help the UN’s Early Warnings for All initiative forward of the 2030 goal.

The Director of the Development Partnerships and Programme Delivery Division of the WMO, Daniel Kull, stated the Alliance for Hydromet Development was established on the 2019 United Nations Climate Change Conference, COP25, to shut capability gaps in climate and climate companies by 2030.

Kull famous that investments in Nigeria’s climate and climate companies had been estimated to generate financial returns of 19 to at least one, underscoring the potential advantages of strengthening the sector.