*Experts seek private capital, affordable climate finance
*FG targets lower emissions, domestic refining
Michael Olugbode in Abuja
Africa’s climate commitments risk remaining unfulfilled without increased private-sector investment, affordable financing and stronger government accountability, stakeholders warned on Tuesday as the Africa Climate Forum 2026 opened in Abuja, with the Federal Government insisting that sustainable petroleum development must remain part of Nigeria’s energy transition.
The government said Nigeria was pursuing a pragmatic pathway that would allow it to harness its vast oil and gas resources for economic development while reducing emissions, curbing gas flaring and progressively diversifying towards cleaner energy sources.
The position, presented by the Permanent Secretary, Federal Ministry of Petroleum Resources, through the Deputy Director, Midstream and Downstream Department, Emmanuel Okon, highlighted the challenge facing African countries seeking to reconcile climate commitments with energy security, industrialisation, poverty reduction and the need to expand access to affordable energy.
The development comes as stakeholders at the fourth edition of the Africa Climate Forum called for stronger public-private partnerships to translate climate pledges into projects capable of protecting livelihoods, improving energy access and strengthening the continent’s resilience to climate change.
The two-day forum, organised by the Global Centre for Law, Business and Economy at the Shehu Musa Yar’Adua Centre, Abuja, has as its theme, “Implementing in Lockstep: Public-Private Action for Green Outcomes.”
In his remarks on Nigeria’s approach to sustainable petroleum development, Okon said the country was not seeking to abandon its petroleum resources but to develop them responsibly while progressively reducing their environmental impact.
“Nigeria is not approaching the energy transition by abandoning its petroleum resources. Rather, we are pursuing a responsible and pragmatic pathway in which our natural resources are developed sustainably while we progressively reduce their environmental footprint and use their revenues and capabilities to accelerate the transition to a cleaner and more diversified energy system,” he said.
He said Nigeria’s petroleum resources remained critical to national development but insisted that their value should increasingly be assessed by the environmental responsibility of their production and the economic benefits generated for Nigerians.
According to him, Nigeria had approximately 37.01 billion barrels of proven and probable crude oil and condensate reserves and 215.19 trillion cubic feet of proven and probable natural gas reserves as of January 1, 2026.
He said the Federal Government was strengthening the regulatory and investment environment under the Petroleum Industry Act while pursuing higher production, improved asset integrity, transparency and more sustainable operations.
Nigeria’s crude oil and condensate production reached approximately 1.68 million barrels per day in August 2026, he added, describing the figure as evidence of improving operational performance.
However, Okon said sustainable petroleum development must go beyond increasing production to include emissions reduction, improved gas utilisation, technological innovation and greater domestic value addition.
He said the government was strengthening efforts to address methane emissions and greenhouse gases, with the upstream petroleum regulator directing operators towards measurement-based emissions reporting and credible measurement, reporting and verification systems.
He also identified gas development as a major component of Nigeria’s energy strategy, noting that the resource could support electricity generation, industrial production, liquefied petroleum gas, compressed natural gas, liquefied natural gas and petrochemicals.
According to him, better utilisation of natural gas could help Nigeria reduce waste, support industrialisation and progressively move towards a lower-carbon energy system.
On gas flaring, Okon said the Nigerian Gas Flare Commercialisation Programme was designed to attract technically and commercially viable projects that would convert gas otherwise wasted through flaring into productive economic assets.
He said the approach would generate economic value while improving environmental outcomes in oil-producing communities.
The government also highlighted domestic refining as part of its strategy to retain more value from petroleum resources within Nigeria.
Okon disclosed that approximately 53.7 million barrels of crude oil were supplied to local refiners in the second quarter of 2026, representing 97.4 per cent performance against the applicable supply framework.
He said strengthening domestic crude supply would support the transition from an economy that exports crude oil and imports refined products to one that increasingly refines, manufactures and adds value locally.
The government, he added, was also pursuing investment and regulatory reforms to unlock additional production and attract capital into the sector.
Nigeria recently launched its 2026 oil and gas licensing round, offering 40 blocks, according to Okon, who said new investments must increasingly be accompanied by environmental responsibility, technological innovation, efficiency and measurable benefits for the population.
He stressed that the government could not achieve sustainable petroleum development without collaboration among businesses, investors, financial institutions, research institutions, host communities and development partners.
“Government must provide clear policy, predictable regulation and appropriate incentives. Industry must deploy capital, technology and best practices. Financial institutions must develop instruments capable of financing transition,” he said.
He also called for a just and orderly energy transition that reflected Africa’s development circumstances, arguing that the continent should have sufficient room to use its natural resources responsibly while expanding access to reliable and affordable energy.
“Africa must also be allowed the development space to utilise its resources responsibly. Our transition must be just, orderly and fit for our circumstances. A sustainable energy future for Africa cannot be one in which millions of people remain without reliable and affordable energy,” he said.
Okon maintained that the petroleum industry could contribute to climate solutions through methane reduction, reduced gas flaring, carbon management, improved efficiency and gradual diversification, even as the environmental consequences of hydrocarbons remained a concern.
“Our destination is a more prosperous, secure and lower-carbon Nigeria,” he said, urging government, industry, finance, technology and development partners to translate the ambition into investment and measurable results.
In a goodwill message, the Founder and Executive Chair of Avocado Holdings, Dr Oge Funlola Modie, urged African governments, businesses and development partners to move beyond climate declarations and establish clear responsibilities and accountability mechanisms to ensure that commitments translate into tangible benefits.
Modie, who was represented by Mrs Chioma Ikenna-Ibeh, Head of Business, Radah Media Company, commended the Director of the Global Centre for Law, Business and Economy, Prof. George Nwangwu, and his team for sustaining the forum over the past four years, said Africa’s challenge was no longer simply to formulate climate policies but to implement them in ways that improved people’s lives.
She described climate action as fundamentally a development issue, with implications for reliable energy, food security, resilient infrastructure, economic opportunities and the well-being of communities.
“While these efforts have been important, the true measure of progress lies in our ability to translate them into tangible outcomes,” she said.
According to her, effective climate action requires governments to provide clear policy direction and an enabling environment, the private sector to bring investment and innovation, development partners to facilitate access to finance and expertise, and communities to participate meaningfully in decisions affecting their lives.
She cautioned, however, that collaboration must go beyond bringing stakeholders together, insisting that shared priorities, clearly defined responsibilities and accountability for results were essential to effective implementation.
Modie also highlighted strategic communication as a frequently overlooked component of climate action, saying policies and interventions could fail without public understanding, institutional trust and community participation.
Speaking through the goodwill message, she said the experience of The Radah Media Company, a media partner of the forum, reinforced the importance of integrating communication and stakeholder engagement into implementation from the outset.
“Communication is not merely how we report progress. It is one of the ways we make progress possible,” she said.
She argued that communication connects policies with the people they are intended to serve, builds confidence in institutions and enables communities to contribute to developing practical solutions.
Modie urged participants to focus on how proposed interventions would be delivered, who would be responsible for them and how their success would be measured.
“Africa does not lack ambition, ideas or capable people. What we must strengthen is our ability to align our efforts, sustain partnerships and deliver results,” she said.
She expressed hope that the forum would be remembered not only for the quality of its discussions but also for the partnerships strengthened and the actions that followed.
“Ultimately, the credibility of our climate commitments will not be determined by what we promise together, but by what we deliver together,” she said.
The petroleum ministry’s position came against the backdrop of wider calls at the forum for increased private-sector investment to close Africa’s climate financing gap.
The Convener, George Nwangwu said the continent’s participation in international climate negotiations and the development of national climate commitments had yet to translate sufficiently into tangible improvements for vulnerable communities.
He identified inadequate financing, high borrowing costs, currency risks, regulatory uncertainty, poor project preparation and limited access to long-term capital as major obstacles preventing viable climate projects from attracting investment.
Public expenditure and development assistance alone, he said, could not provide the resources required to address the continent’s climate challenges.
He therefore called for a coordinated approach in which governments establish credible policies and effective institutions, businesses provide capital and innovation, and development finance institutions help reduce investment risks.
Investments, he said, should target resilient infrastructure, affordable and reliable electricity, clean cooking, climate-smart agriculture, sustainable cities and green industries capable of creating opportunities for African enterprises.
“To implement is to move from aspiration to execution, from promises to projects, and from declarations to delivery,” the Convener said.
He added that the true measure of climate ambition was not the number of commitments made but the outcomes delivered.
To advance implementation, the organisers have structured the forum around four platforms: policy dialogue, investment facilitation through a Deal Room, an innovation Marketplace and Climate Stories.
The Deal Room is designed to connect project developers with investors, financial institutions, development partners, technology providers and public authorities to improve project preparation and identify potential financing arrangements.
The Marketplace provides opportunities for African entrepreneurs, researchers and businesses to showcase solutions in renewable energy, clean cooking, agricultural technology, waste management, water systems and climate resilience.
The organisers said the platforms were intended to link policy reforms with investment opportunities, promote locally developed solutions and ensure that communities affected by climate change remained central to decision-making.
The Africa Climate Forum has expanded its engagement since its inception, with this year’s programme building on previous editions. The organisers said the decision to take the series to Accra, Ghana, marked its first expansion beyond Nigeria, while Nairobi, Kenya, was being considered for next year’s mini Climate Forum series.
The discussions in Abuja reflect the difficult choices confronting African economies as they seek to finance climate adaptation, expand electricity access, develop industries and reduce environmental damage.
For Nigeria, the challenge includes ensuring that oil and gas revenues and infrastructure contribute to economic diversification without undermining efforts to reduce emissions and strengthen environmental protection.
The effectiveness of the public-private approach advocated at the forum will ultimately depend on whether policy commitments translate into financed projects, verifiable emissions reductions, reliable energy supplies and tangible improvements in people’s livelihoods.
With the government defending responsible petroleum development as part of its transition strategy and climate stakeholders demanding stronger investment and accountability, the central test will be whether Africa can reconcile its immediate development needs with the long-term imperative of building resilient, lower-carbon economies.