The federal government has launched a $275 million financing programme to support Micro, Small and Medium Enterprises (MSMEs) in Nigeria, with a focus on renewable energy, climate-smart agriculture and environmentally friendly technologies.
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Key Highlights
- The FG has launched a $275 million financing programme for MSMEs through the Development Bank of Nigeria.
- It was unveiled on November 13, 2026, at COP31 in Türkiye.
- The Green Climate Fund is contributing $100 million.
- Funding targets renewable energy, solar, climate-smart agriculture and recycling.
- About 1.3 million people are expected to benefit, with emissions cut by an estimated 4.5 million tonnes.
The initiative, known as the Development Bank of Nigeria Enterprise Lending for Transition and Adaptation Programme, is designed to improve access to affordable financing for businesses seeking to invest in sustainable and climate-friendly solutions.
The programme was unveiled on November 13, 2026, at the 31st United Nations Climate Change Conference (COP31) in Türkiye.
With a target financing facility of $275 million, the programme includes a $100 million contribution from the Green Climate Fund (GCF).
What the programme will fund
Under the initiative, eligible Nigerian businesses are expected to access funding for investments in renewable energy, solar power, climate-smart agriculture, recycling and other environmentally sustainable technologies.
The programme is also expected to benefit approximately 1.3 million people, while supporting efforts to reduce greenhouse gas emissions by an estimated 4.5 million tonnes.
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Through the programme, the federal government, working through the Development Bank of Nigeria, aims to strengthen the capacity of small businesses to adopt sustainable business practices, improve productivity and contribute to Nigeria’s transition towards a greener economy.
The initiative also seeks to address financing challenges faced by MSMEs, particularly businesses interested in adopting technologies that can reduce environmental impact and improve long-term sustainability.
The programme marks another effort to link access to finance with climate action, while creating opportunities for Nigerian enterprises to participate in the growing green economy.
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