The federal government has launched a $100 million Orteva carbon project as part of efforts to drive green growth, unlock climate finance, and expand Nigeria’s carbon credit market.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced the initiative recently in Abuja while receiving a delegation from Orteva, which is partnering with the Delta State government and Eighth Versa on the project.
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According to a statement by Mohammed Manga, Director of Information and Public Relations at the Ministry of Finance, the project is designed to accelerate Nigeria’s transition to a sustainable economy while opening new investment opportunities.
Edun said the initiative aligns with President Bola Tinubu’s vision for green growth and economic diversification.
He described the Orteva project as a “timely effort” that will support Nigeria’s energy transition plan, boost non-oil revenue, attract foreign exchange, and create employment.
“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,” the statement said.
Edun reaffirmed the government’s commitment to establishing a transparent carbon market framework supported by strong governance and clear pricing mechanisms.
“For the private sector, this represents an opportunity to invest in projects that protect the environment while delivering long-term economic returns,” he added.
Manga said the Ministry of Finance would provide policy, fiscal, and credit-enhancement support to attract both domestic and international financing.
He noted that the Orteva carbon project represents Nigeria’s “new economic frontier,” where sustainability and profitability converge to drive inclusive and resilient growth.
