Reps Promise Continued Support To Innovations, Investments In Renewable Sector …As Coy Floats Bank To Explore Nigeria’s $104Bn Green Energy Investment opportunities

By Alkassim Bala Tsakuwa, Abuja

The Chairman, House Committee on Renewable Energy, Hon. Afam Victor Ogene has stated that, House will continue to support through legislations that will provide an enabling environment for innovators and investors in Nigeria’s Green, renewable sector.

He stated this in a remark at a Press briefing on the planned creation of Green and Climate Finance Bank by a Nigerian Company, Quantum Partners.

He said, the initiative comes at a critical time in the nation’s history because it came at the heels of the Federal government’s policy of adopting Renewable Energy as a viable option to boost energy security in the nation.

He said, “In line with the mandate of my committee to Oversight over all renewable energy components in every entity in Nigeria and also formulate policies and initiatives to accelerate investment in renewable energy technologies.

“Nigeria has an estimated US$104 billion climate-smart investment opportunity by 2030. This covers renewable energy, climate-smart agriculture, green buildings, sustainable waste management, sustainable transport, and resilient infrastructure.

“Our Nationally Determined Contributions under the Paris Agreement require significant annual investment to meet the targets. However, traditional financing structures have not been enough to mobilise capital at the level and speed required for development in the sector. Due to their business models, commercial banks often struggle with climate financing.

“Moreover, climate projects are perceived as high risk and because of this, many promising renewable energy developers and green entrepreneurs cannot access affordable capital. This is why the proposal to establish a Green and Climate Finance Bank is both timely and strategic.

“The Bank is designed to serve as an important financial institution that mobilises private capital, uses innovative risk-sharing tools, and provides long term financing tailored specifically to renewable energy and other climate aligned sectors. It will support MSMEs, women-led businesses, green innovators, and infrastructure developers who are building the foundation of a sustainable economy”.

Hon Ogene said, as the Chairman of the House Committee on Renewable Energy, he sees the initiative as fully aligned with their legislative priorities.

The lawmaker added, “Our Committee has consistently advocated for policies that promote renewable energy adoption, strengthen regulatory clarity, and enhance private sector participation in the energy transition. However, legislation alone is not enough. We must complement policy reform with institutional innovation. The proposed Green and Climate Finance Bank represents such innovation”.

In their separate addresses, the Co-founders of Quantum Partners and the promoters of the Green Climate Bank, Oluwafemi Adedipe and Dr. Samuel Ndubuisi-Brown stated that, they are set to mobilise private investors to establish the Green and Climate Finance Bank to key into the $104 billion investment opportunities in green, renewable energy sector in the country.

Speaking, Adedipe said the Climate Finance Bank for Nigeria, an innovative financial institution designed to mobilise capital for Nigeria’s transition to a low carbon, green economy.

He said, “Nigeria is simultaneously one of the most climate-vulnerable countries in the world and one of the most promising green investment frontiers. Floods, drought, desertification, and energy insecurity threaten livelihoods and economic stability. At the same time, renewable energy, climate-smart agriculture, green infrastructure, and circular economy ventures represent transformative growth sectors.

“According to objective estimates, Nigeria’s climate investment opportunity could reach approximately US$104 billion by 2030. However, opportunity alone does not translate into progress. The capital that will operationalise the opportunity must be mobilised. Risks must be structured and projects must be financed.

“That is the gap this Bank is designed to fill. The Green and Climate Finance Bank will serve as a platform that bridges the space between green projects and capital markets. It will provide flexible financing tailored specifically to renewable energy developers, sustainable agriculture enterprises, green infrastructure projects, and other climate aligned MSMEs.

“Our objective in proposing this Bank is simple but ambitious. We intend to attract private capital at scale while delivering measurable environmental and social impact. To do this right, we’ve spent months building a world-class foundation, including a comprehensive business plan and operating model.

“We have also engaged with regulators, development partners, and institutional stakeholders. We have designed an independent governance blueprint consistent with global sustainability standards. We are also assembling a high-calibre advisory structure that brings together expertise in banking, climate finance, and investment management”.

On his part, Samuel Ndubuisi-Brown noted that, there are vast opportunities in the green energy sector, hence the need to engage Nigerians and providing them with a platform to contribute to the nations’ economy by utilising the available resources in the sector.