The Nigerian Economic Summit Group (NESG) has called for intensified action to convert the country’s climate change commitments into substantial investments. The group argues that such a shift is necessary to drive economic growth, create jobs, and enhance national productivity.
In a joint effort with the Federal Ministry of Budget and Economic Planning, the NESG made this call during the National Green Growth Dialogue held on Thursday. The event served as a pre-summit engagement to prepare stakeholders for upcoming economic discussions.
The central focus of the dialogue was the transition from policy-level promises to practical, investment-ready projects. The NESG maintains that Nigeria’s ability to meet its environmental targets is linked to its capacity to leverage green opportunities for economic diversification.
Economic implications of green growth
The push for green growth comes at a time when Nigeria faces pressure to balance its reliance on fossil fuels with the global shift toward renewable energy. The NESG and the Federal Ministry of Budget and Economic Planning argued that current climate commitments must be structured to attract capital that specifically targets sectors capable of rapid job creation, including renewable energy, sustainable agriculture, and circular economy initiatives.
By aligning climate policy with national economic planning, the government and private sector can ensure that the energy transition addresses Nigeria’s unemployment rates and industrial productivity. The dialogue noted that green investments could provide a new pathway for industrialisation that is both resilient and sustainable, reducing the economic vulnerability associated with oil price volatility.
The Federal Ministry of Budget and Economic Planning’s involvement signals a move to integrate climate resilience into national budgetary and planning frameworks. This integration is necessary to ensure that long-term economic strategies account for the fiscal risks and opportunities presented by climate change.
The dialogue precedes the main NESG summit, where leaders from the public and private sectors are expected to deliberate on broader economic reforms. Stakeholders are now looking to see how these green growth priorities will be incorporated into the final outcomes of the summit and subsequent government policy implementation.
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