The Federal Government is targeting $500m in climate financing to strengthen climate-resilient infrastructure, improve adaptation and address growing threats from flooding and other extreme weather events.

The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this at the annual meeting of the Alliance for Hydromet Development in Lagos on Tuesday.

The meeting, themed ‘Partnership, Innovation and Sustainable Investment in Weather, Water and Climate Service,’ focused on financing, partnerships and reliable climate information to protect lives, infrastructure and economic activities.

Keyamo said the government was mobilising domestic and international resources through initiatives such as the Nigerian Climate Investment Platform.

“The Federal Government has developed mechanisms for mobilising domestic and international resources for climate-related investments, including the Nigerian Climate Investment Platform, which was established to help unlock substantial finance in this regard. It is targeting $500 million for climate-resilient infrastructure, adaptation and other policy areas.”

He stressed that weather forecasting and early warning systems required sustained funding to turn scientific information into practical measures against climate-related disasters.

Keyamo identified the establishment of the Anticipatory Action Task Force on Floods in 2025 as a step towards improving preparedness, adding that seasonal climate predictions from the Nigerian Meteorological Agency (NiMet) supported national planning and flood mitigation.

“The establishment of the anticipatory action task force on floods in 2025 represents an important step in this direction, with the seasonal climate prediction produced by NiMet contributing to national preparedness and planning,” he said.

The minister also highlighted the accreditation of the Nigerian Sovereign Investment Authority as a direct access entity to the Green Climate Fund, describing it as a boost to Nigeria’s capacity to access international climate finance.

He said the Development Bank of Nigeria was strengthening its capacity to secure climate funding, while the government was exploring green bonds, carbon markets and other financing options.

According to Keyamo, the government had approved a national carbon market framework and was working to operationalise the Climate Change Fund.

He also cited the National Economic Council’s approval of N83.2bn in June 2026 for anticipatory action interventions to mitigate the expected effects of flooding and other climate emergencies nationwide.

“Specifically, the governments have approved a national carbon market framework and the operationalization of the Climate Change Fund.

“Similarly, in June 2026, the National Economic Council approved N83.2bn for anticipatory action task force interventions aimed at mitigating the anticipated impact of flooding and other climate-related emergencies across the country.”

Keyamo warned that raising funds would not be enough unless investments translated into projects that addressed real development needs.

“These developments are significant, as climate finance must ultimately translate into projects that address real development challenges.

“We must therefore strengthen the connection between climate science, climate action, sectoral development plans and investment preparedness.”

He added that NiMet and other relevant institutions should help identify climate risks, determine adaptation needs and develop credible investment proposals to protect infrastructure and strengthen economic resilience.

Meanwhile, NiMet Director-General, Prof. Charles Anosike, warned that gaps in Africa’s weather observation infrastructure were undermining forecasting accuracy and disaster preparedness.

He said Africa accounted for approximately 30 per cent of the global weather observation deficit, with only about 12.5 per cent of the minimum weather station density recommended by the World Meteorological Organisation (WMO).

Anosike added that limited observation networks continued to affect the reliability of weather forecasts.

“Out of 53 countries, including 36 Least Developed Countries and Small Island Developing States, compliance rates stand at just seven per cent for surface land stations and nine per cent for upper-air stations,” he said.

SOURCE: Punch Newspapers