Vice President Yemi Osinbajo, speaking in Abuja on Tuesday, directed the Nigeria Sovereign Investment Authority (NSIA) to develop the country’s first carbon‑market activation plan and to lead engagement on that plan. He argued that Africa could become the world’s first truly green civilisation because it is the lowest carbon emitter and has a relatively young population capable of deploying green manufacturing at scale.
“The importance of an enabling environment is crucial for Nigeria to play a global role in voluntary carbon markets,” Osinbajo said at the official signing ceremony of the Carbon Vista Agreement at the State House, Abuja. “This is why I would like NSIA to take the lead in developing the first Nigeria Carbon Market Activation plan and look forward to engagement on the plan.” Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, released a statement titled “Africa can become first truly green civilization–Osinbajo.”
The Carbon Vista (CV) initiative aims to help Nigeria meet its net‑zero targets by investing in carbon‑avoidance and removal projects. A joint‑venture investment company, created by the NSIA and Vitol—a multinational energy and commodities firm—will drive the project. Both parties are committing an initial $50 million to projects such as climate‑smart agriculture, green industrial technologies, and waste management, spanning sectors including agriculture, energy, and manufacturing.
The Vice President emphasized that Africa can become “the first truly green civilisation – the first civilisation on earth to use renewable fuel for purposes of a transformative economic journey.” He explained that Africa’s low current emissions allow it to develop industry without following the carbon‑intensive path taken by the global North. “If we are the least emitters and can use green energy effectively, we can harness our young population to deploy green manufacturing at the scale needed to become the world’s green factory and power source,” he said.
Osinbajo described the collaboration between NSIA and Vitol as crucial, noting that the lineup of projects would make Nigeria a “truly green economy.” The Steering Committee has directed the NSIA to play an active role in building the voluntary carbon market.
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