President Bola Tinubu has given approval for the full roll-out of Nigeria’s carbon market framework, a far-reaching climate policy expected to yield no less than $3 billion in annual revenue by 2030.

The decision was made public yesterday by the Special Assistant to the President on Social Media through his verified X handle, @DOlusegun, who described the approval as a decisive move to position Nigeria as a leading player in the global carbon trading space.

The framework is designed to stimulate large-scale trading in emission allowances across strategic sectors of the economy, unlocking fresh income streams for the country while reinforcing its climate action agenda.

As part of the policy, the Federal Government is set to establish a national carbon registry, mandate emissions reporting by companies, and introduce phased compliance measures consistent with Nigeria’s climate obligations.

These include interim emissions-reduction targets by 2035 and the long-term objective of net-zero emissions by 2060.

To spur investor confidence, the framework offers robust incentives, including up to 10 years of tax exemptions on carbon-credit earnings, accelerated capital allowances for investments in low-carbon assets, and research and development deductions linked to emissions-reduction initiatives.

The measures are aimed at dismantling structural bottlenecks that have historically constrained carbon market investments, while enhancing Nigeria’s standing as a climate-responsive economy capable of attracting green finance and driving sustainable growth.

The approval underscores the Tinubu administration’s broader push to diversify national revenue, align economic growth with environmental responsibility, and secure Nigeria a competitive footing in the fast-evolving global carbon economy.