NSIA expands climate finance push with GCF accreditation

The Nigeria Sovereign Investment Authority (NSIA) is strengthening its climate finance strategy following its accreditation as a Direct Access Entity of the Green Climate Fund (GCF).

In a statement, the authority said that this will enable them to access and utilise climate funding directly, which means they won’t need to rely on intermediaries and will help Nigeria generate more funds for climate-related projects.

“This accreditation reflects years of institutional alignment with global standards and creates a direct pathway to mobilise capital for climate-focused projects,” said Aminu Umar-Sadiq, managing director and chief executive officer of NSIA.

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The development builds on the authority’s broader sustainability framework, which integrates environmental, social, and governance standards into its operations. In 2024, NSIA published its first sustainability report and adopted disclosure standards from the International Sustainability Standards Board (ISSB), aligning with global reporting practices.

It added that one of its flagship initiatives is the Renewable Investment Platform for Limitless Energy (RIPLE), a sovereign-led platform designed to scale renewable energy deployment across the country. The platform builds on the authority’s delivery of a 10-megawatt solar project in Kano and includes a pipeline of about 250 megawatts of clean energy projects.

“These include solar and battery systems for healthcare facilities and plans for a solar photovoltaic manufacturing facility with an annual capacity of 800 megawatts,” the statement said.

The Authority is also deploying capital through a Distributed Renewable Energy Fund developed with partners such as the Sustainable Energy for All, the International Solar Alliance, and Africa50. The fund targets improved electricity access in underserved communities through decentralised energy solutions.

Beyond direct investments, NSIA is structuring financial instruments to address constraints in climate financing. In 2024, it launched the Green Guarantee Company in partnership with the GCF, the UK Foreign, Commonwealth, and Development Office, USAID, and Norfund. The platform is designed to provide guarantees aimed at unlocking more than $1 billion in climate investments in emerging markets.

It is also deploying capital into carbon and agriculture-linked initiatives, including Carbon Vista, a platform developed with Vitol, which focuses on clean cooking solutions for rural households.

NSIA’s approach also incorporates inclusion. Through gender-focused investment frameworks, the Authority supports women-led businesses and sectors such as healthcare, energy, and technology.

Its healthcare subsidiary, Medserve, has delivered oncology services to patients across Nigeria, with women accounting for a majority of beneficiaries.

“We see climate action and inclusion as linked priorities,” Umar-Sadiq stated. “We structure our investments to expand economic opportunities while addressing climate risks.”

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Beyond investments, NSIA is contributing to policy development, including Nigeria’s carbon market framework approved in 2025, and participating in global sustainable finance initiatives.

The statement disclosed that the GCF accreditation will strengthen NSIA’s role in mobilising climate capital at scale, as the focus shifts from commitments to execution in emerging markets.