Nigeria is making big strides in its carbon market with the launch of the Carbon Market Association of Nigeria (CMAN). This took place on November 18, 2025, during the 30th United Nations Climate Change Conference (COP30).
The timing is crucial. Nigeria recently approved a Carbon Market Framework, a policy aimed at developing a transparent and successful carbon market. This framework aims to draw in global investments and position Nigeria as a key player in Africa’s carbon credit scene.
During the CMAN unveiling, Minister of Environment Balarabe Abbas Lawal highlighted how CMAN will boost coordination and support Nigeria’s carbon market growth. He believes this is a significant step for the country’s climate and economic strategies.
“The Carbon Market Association of Nigeria is essential for our green transition,” Lawal said. He urged all stakeholders to join forces in achieving Nigeria’s carbon market potential, which aligns with the country’s climate goals and opens up a new sector for investment.
Horsfall Tony, CMAN’s Interim President, shared the organization’s vision and mission. They aim to be a strong voice and credible body for all carbon market participants in Nigeria, focusing on sustainable development and clean energy. Their mission is to unite various sectors to push for effective climate policies and actions.
The launch of CMAN emphasizes Nigeria’s growing role in global climate discussions and its commitment to using carbon markets as a means for economic growth and environmental progress. This move reflects a broader trend where countries are prioritizing sustainability amid global climate concerns, aiming for a greener future.
Recent figures bolster this trend. According to a recent report by the International Energy Agency (IEA), global carbon markets are expected to grow to $22 billion by 2030. This growth indicates a rising interest in sustainable projects and investments, making Nigeria’s carbon market an enticing opportunity.
By establishing CMAN, Nigeria aims to participate actively in this expanding field. The association plans to foster high-quality carbon initiatives across forestry, renewable energy, and other vital sectors, promoting economic diversification and poverty reduction.
As Nigeria steps forward into this new era, its commitment to a green transition could resonate widely, potentially inspiring other nations to follow suit.
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Carbon Market Association of Nigeria (CMAN),COP30,Nigeria
