The House of Representatives Committee on Renewable Energy, has welcomed the initiative to establish Nigeria’s first dedicated Green and Climate Finance Bank, a specialised financial institution designed to accelerate the country’s transition to a low-carbon, green economy.
This announcement was made during a press conference held at the National Assembly Complex in Abuja, where Hon. Afam Victor Ogene, Chairman of the Committee, emphasized that the proposed Bank would serve as “a strategic national instrument to attract climate investment at scale and position Nigeria as a continental leader in sustainable finance.”
Hon. Ogene stated that this development is consistent with the mandate of the Committee on Renewable Energy, which has been tasked by the 10th House of Representatives with, inter alia, “formulating policies and initiatives to accelerate investment in renewable energy technologies, among other oversight responsibilities.”
The lawmakers further disclosed that during interactions “with stakeholders in the renewable energy sector at different fora, financing was consistently identified as a major challenge. Stakeholders noted that accessing finance remains a significant obstacle, whether for developing local technology, bridging knowledge gaps through training, or procuring goods and services in the sector. In this context, the establishment of a financial institution dedicated to renewable energy financing is a welcome development and should be supported.”
According to Dr. Samuel Brown, representative of the promoters of The Green Bank project, Quantum Partners Investment Services Ltd, “Nigeria faces significant climate and energy challenges, including flooding, desertification, food insecurity, and power deficits. At the same time, the country holds immense green investment potentials. According to the International Finance Corporation, Nigeria’s climate investment opportunity could reach approximately US$104 billion by 2030 across sectors such as renewable energy, climate-smart agriculture, green buildings, transport, and resilient infrastructure.
“Despite this potential, access to stable and affordable climate finance remains limited. Nigeria’s climate commitments under the Paris Agreement and its Nationally Determined Contributions require substantial annual investment to meet adaptation and mitigation targets. As at today, existing financial institutions alone cannot bridge this financing gap.
The proposed Green and Climate Finance Bank seeks to address this structural challenge by:
• Mobilising private and institutional capital through innovative risk sharing mechanisms
• Providing long tenor and flexible financing for renewable energy and sustainable infrastructure projects
• Supporting MSMEs, women led enterprises, and green entrepreneurs
• Strengthening Nigeria’s access to international climate funds and blended finance structures
The initiative is being led by Quantum Partners Investment Services, a Nigerian investment firm working to develop a robust governance, risk, and operational framework for the proposed institution. A comprehensive business plan and governance blueprint have already been developed, aligned with global best practices, including climate disclosure and environmental and social risk standards.”
The Chairman emphasised that the Green and Climate Finance Bank aligns directly with the legislative and oversight priorities of the House Committee on Renewable Energy. He noted that the National Assembly remains committed to creating an enabling environment for renewable energy deployment, private sector participation, and sustainable investment flows into Nigeria.
“This initiative is not merely about establishing another bank,” he stated. “It is about building an important platform that can attract private capital, make green investments, create jobs for our young people, and strengthen Nigeria’s energy security.”
The promoters are currently raising US$15 million in founding capital to secure regulatory approvals, establish core operations and digital infrastructure, and commence lending and project financing activities, with a target operational launch in early 2027.
The Chairman called on development finance institutions, sovereign funds, pension funds, impact investors, and forward-looking private investors to support the initiative. He further reiterated the importance of strong collaboration between the executive, legislature, private sector, and international partners to ensure that Nigeria does not miss the global transition towards green and sustainable finance.
“This is an important moment,” he concluded. “Nigeria must not only participate in the global green transition; we must shape it in a way that serves our people, strengthens our economy, and secures our future.”
For further information, interested stakeholders may contact:
Quantum Partners Investment Services Ltd
Abuja, Nigeria
Website: www.qpclimate.com
Email: [email protected]
End
Discover more from The Source
Subscribe to get the latest posts sent to your email.
