The Chairman of the House of Representatives Committee on Renewable Energy, Afam Victor Ogene, has said Nigeria holds an estimated $104 billion climate-smart investment opportunity by 2030, stressing that unlocking the potential requires innovative and specialised financing structures.

Ogene spoke at a press conference held on Wednesday at the National Assembly Complex in Abuja, where promoters formally unveiled plans to establish Nigeria’s first dedicated Green and Climate Finance Bank.

Citing objective estimates, he noted that the investment opportunity spans renewable energy, climate-smart agriculture, green buildings, sustainable waste management, sustainable transport, and climate-resilient infrastructure.

“The question before us is simple: how do we unlock this opportunity? The answer is finance,” he said.

According to him, conventional banking structures have struggled to mobilise capital at the scale and speed required to meet Nigeria’s climate commitments and energy transition goals.

He explained that renewable energy and other climate-aligned projects are often perceived as high-risk and long-term investments, limiting access to affordable financing for developers and green entrepreneurs.

Ogene described the proposed Green and Climate Finance Bank as a strategic response to the financing gap, noting that it is a private sector-driven initiative designed to mobilise domestic and international capital.

He disclosed that he first met one of the promoters, Dr. Samuel Ndubuisi-Brown, at a conference last year where the concept was introduced, adding that he became interested because part of his committee’s mandate is to explore ways to secure single-digit interest financing with longer tenors to reduce dependence on the national grid and accelerate renewable energy adoption.

“As a committee, we decided to give them our full support because this aligns with our responsibility to expand access to affordable renewable energy financing,” he said.

Co-Founder of Quantum Partners, Mr. Oluwafemi Adedipe, said Nigeria is simultaneously one of the most climate-vulnerable countries and one of the most promising green investment frontiers.

He said floods, droughts, desertification, and energy insecurity continue to threaten livelihoods and economic stability, but added that renewable energy, circular-economy ventures, and climate-smart investments represent transformative growth sectors.

Adedipe explained that the proposed bank would serve as a bridge between green projects and capital markets, providing flexible financing solutions tailored to climate-aligned sectors.

“Our objective is to attract private capital at scale while delivering measurable environmental and social impact,” he said.

Also speaking, Co-Founder Dr. Samuel Ndubuisi-Brown said the immediate target is to raise $100 million in founding capital to complete regulatory approvals, establish digital infrastructure, and commence lending operations.

He said the promoters are currently engaging regulators and key stakeholders, with a projected operational timeline in the first quarter of 2027, subject to regulatory approvals.

According to him, the bank will focus primarily on small and medium-sized enterprises (SMEs) and climate-inclined initiatives, ensuring that access to renewable energy financing is not limited to large corporations.

“This is about ensuring that renewable energy financing trickles down to SMEs and local entrepreneurs,” he said.

He added that once operational, the bank would roll out specific banking products designed around climate and green finance principles, including tailored lending solutions for renewable energy developers and environmentally sustainable businesses.

The promoters thereby called on development partners, sovereign investors, pension funds, and institutional investors to engage with the initiative, describing it as both a commercial opportunity and a strategic platform to strengthen Nigeria’s resilience while positioning the country as a leader in sustainable finance.
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