Nigeria plans to raise $3 billion yearly for climate projects

Nigeria has announced a new plan to raise $3 billion every year to support climate change projects in the country.
This came as world leaders gathered in Belém, Brazil, for the COP30 climate summit.

Vice President Kashim Shettima said climate change is already affecting Nigeria through floods, heatwaves, droughts and rising food prices.
He explained that the government will use the National Climate Change Fund and Carbon Market Framework to attract money from private companies and international partners.

The money will be used for:
• Flood control
• Renewable energy projects
• Tree planting and forest protection
• Support for communities losing farmland to climate impact

The announcement comes as the world reacts to Typhoon Kalmaegi, which recently killed over 100 people in the Philippines, showing the dangers of worsening weather conditions.

Shettima said Nigeria must act now to protect lives and economic stability.