Nigeria plans framework for farmer climate finance
A new system aims to guide investments for adaptation and resilience against drought and flooding.
Nigeria is developing a framework to improve access to climate finance for small-scale farmers, guiding investments in agricultural adaptation and protecting rural livelihoods. The initiative will provide financial institutions with clear guidelines for supporting farming activities resilient to climate challenges like drought and flooding. This framework was discussed at a validation workshop in Abuja organised by the Presidential Implementation Committee on Technology Transfer (PICTT) and YAPU Solutions.
PICTT Chairman Dahiru Muhammed stated the framework aims to translate Nigeria’s national climate taxonomy into a practical system for accessing and channeling funds. He explained that while the Federal Ministry of Finance and the UN Development Programme developed the taxonomy, PICTT and partners are establishing implementation mechanisms for rural communities. Muhammed stressed that defining eligible climate adaptation activities is essential for farmers and agricultural enterprises to benefit from financing.
Country Representative of WorldFish in Nigeria, Charles Nyangbe, noted the need for financing solutions tailored to varying regional environmental conditions, such as drought in the north and flooding in the south. YAPU Solutions Managing Director Christoph Junghleisch estimated smallholder farmers could need up to $30 billion annually to respond to climate risks, describing climate adaptation as a significant investment opportunity.
Why it mattersSmall-scale farmers in Nigeria will be directly affected by a new framework designed to improve their access to climate finance for adaptation.