President Bola Tinubu has approved the full implementation and of the nation’s carbon market framework, a landmark policy projected to generate at least $3 billion annually by 2030.
Special Assistant to the President on Social Media, Dada Olusegun, revealed this on Thursday via his official X handle,
He described the move as a major step in positioning the country at the forefront of global carbon trading.
According to him, the framework was expected to unlock large-scale transactions in emission allowances across key sectors of the economy, creating new revenue streams while moving the country’s climate goals.
Under the new policy, the Federal Government will establish a national carbon registry, introduce mandatory emissions reporting for companies, and roll out phased compliance mechanisms aligned with climate commitments including emissions reduction targets by 2035 and achieving net-zero by 2060.
Edited by Favour Owonibi.