FG advances Green Growth with $100 Million Orteva Carbon Project
The Federal Government has taken a significant step towards realizing its green growth agenda with the $100 million Orteva Carbon Project, a landmark initiative aimed at unlocking climate finance, generating carbon credits, and accelerating the country’s transition to a sustainable economy.
Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun made the disclosure today in his office, in Abuja, when he received a delegation from Orteva, in partnership with the Delta State Government and Eighth Versa, for strategic discussions on the project.
The Minister commended the initiative, describing it as “a timely intervention fully aligned with President Bola Ahmed Tinubu’s vision of green growth and sustainable economic transformation.”
According to Mohammed Manga, the Ministry’s Head of Information and Public Relations, Edun stressed that initiatives of this scale are central to Nigeria’s Energy Transition Plan and will diversify revenue streams beyond oil, attract foreign exchange, and create jobs.
With components ranging from mangrove conservation to biochar production, the project is expected to generate between $350 million and $2.8 billion in carbon credit revenue, positioning Nigeria as a leading hub for credible carbon trading in Africa.
He assured that “the Federal Government is committed to building a transparent carbon market framework with strong governance and pricing mechanisms,” noting that for the private sector, it represents an opportunity to invest in projects that protect the environment while delivering long-term economic returns.
The Federal Ministry of Finance reaffirmed its readiness to provide the policy, fiscal, and credit-enhancement structures needed to attract both domestic and international financing.
The Orteva Carbon Project signals Nigeria’s new economic frontier, where sustainability and profitability converge to power inclusive growth.
