Nigeria has launched the US$100 million Orteva Carbon Project, in a bid to drive sustainable development and green growth.

The carbon credit initiative is expected to generate between US$350 million and US$2.8 billion in carbon credit revenue, through projects such as mangrove conservation and biochar production, according to Africa Business Communities.

Nairametrics reports that the project is a joint endeavour between UK-based environment and sustainability consultancies Orteva and Eight Versa and the government of Nigeria’s Delta State.

Minister of Finance Wale Edun said the project, which falls under Nigeria’s Energy Transition Plan, is ‘a timely intervention fully aligned with President Bola Ahmed Tinubu’s vision of green growth and sustainable economic transformation’.

Edun said the federal government is committed to building a transparent carbon market framework with strong governance and pricing mechanisms. ‘For the private sector, this represents an opportunity to invest in projects that protect the environment while delivering long-term economic returns.’

Launching Nigeria’s Carbon Market Activation Policy in April, Tinubu said the policy aimed to unlock up to US$2.5 billion in high-integrity carbon credits and associated investments by the year 2030.

14 October 2026
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