The Nigerian Exchange Group (NGX Group), in partnership with Germany’s development finance institution DEG and Africa Foresight Group, has intensified efforts to channel between $2.5 billion and $3.0 billion in climate-linked capital into Nigerian corporates.
The push formed the centrepiece of an NGX–DEG CEO Roundtable, which brought together chief executives, development finance institutions and capital market stakeholders to accelerate corporate climate commitments under the NGX Net-Zero Programme (N-Zero).
The event held at the Lagos head office of NGX on Thursday, January 15, 2026, concluded with a Closing Gong Ceremony.
As global investors increasingly tie global capital allocation to sustainability performance, NGX Group and its partners said the challenge for Nigerian corporates is no longer whether to act, but how quickly they can align ambition with execution.
What is Net-Zero Climate Capital
Net-Zero Climate Capital refers to money invested specifically to help reduce greenhouse gas emissions to net-zero levels, the NGX Group explained.
The goal is to balance emissions produced with reduced or removed emissions.
It supports projects and businesses that cut carbon pollution, use clean energy, improve efficiency, or remove carbon from the atmosphere, while still generating financial returns.
According to NGX, it is funding aimed at fighting climate change without stopping economic activity, and companies can still grow, but they do so using cleaner technologies such as solar power, electric transport, climate-smart agriculture and low-carbon manufacturing.
Capital Markets as climate catalysts
Opening the session, Group Chairman of NGX Group, Alhaji (Dr.) Umaru Kwairanga said Africa’s climate response must be driven by its capital markets if it is to be credible and scalable.
“Capital markets must be at the centre of climate leadership in Africa. The NGX Net-Zero Programme enables companies to move from climate ambition to measurable action,” Kwairanga said, stressing that transparency and credible transition plans are now prerequisites for competitiveness.
The N-Zero Programme is a market-led initiative designed to strengthen the long-term investability of listed companies by aligning them with global net-zero standards, climate disclosures, and transition planning frameworks.
Climate Risk is now a valuation issue
Presenting the investment case, NGX Group Managing Director and Chief Executive Officer, Mr. Temi Popoola, said climate risk has moved from being a reputational issue to a core financial consideration.
“Global capital is increasingly becoming conditional, with climate risk directly impacting the cost of capital and valuation. Companies that embed sustainability into strategy and governance are better positioned to attract long-term capital,” Popoola said.
According to market estimates discussed at the roundtable, Nigerian corporates that demonstrate credible climate strategies could unlock up to $3.0 billion in blended finance, green funding and sustainability-linked investments over the medium term.
Development Finance backs private capital mobilization
Ms. Monika Beck, Member of the Management Board of DEG, said the partnership reflects DEG’s focus on mobilising private capital for climate action while delivering development impact.
“At DEG, our corporate strategy is centred on mobilizing private capital to accelerate climate action while delivering measurable development impact and sustainable returns,” Beck said.
According to her, Partnerships such as the NGX-DEG initiative enable the organisation to scale out solutions that are both impactful and commercially viable.
Execution, not intent, is the real test
During the interactive session, market operators and corporate leaders highlighted execution as critical bottlenecks. The Chief Executive Officer of Chapel Hill Denham, Mr. Bolaji Balogun, noted that climate disclosures must translate into tangible investor value.
“Access to capital, technical expertise and credible frameworks are essential if climate reporting is to translate into real investor value,” he said.
Similarly, President and Group Chief Executive Officer of Transcorp Plc, Dr. Owen Omogiafo, OON, stressed the need for balance.
“Africa’s climate transition must be practical and inclusive, balancing sustainability objectives with economic growth and social impact,” he said.
Backed by co-funding and technical support
The event concluded with a Closing Gong Ceremony and builds on a multi-million-naira co-funding partnership between NGX Group and DEG Impulse gGmbH under Germany’s develoPPP programme.
The partnership provides subsidised net-zero transition planning, technical capacity building and access to globally recognised frameworks for listed companies. The goal is to balance emissions produced with reduced or removed emissions.
Net-Zero Climate Capital helps governments and businesses transition to a cleaner economy while protecting jobs, attracting investment, and supporting long-term environmental sustainability.
What you need to know
- Net-Zero Climate Capital is rooted in the broader global effort to balance carbon emissions with carbon removal to halt global warming — a goal formalised in the 2015 Paris Agreement, which set net-zero goals for mid-century to limit global temperature rise.
- The idea grew from earlier climate diplomacy in the 1990s and later became central to international climate targets, pushing countries and investors to align finance with climate goals.
- As climate finance evolved, both public and private players began mobilizing capital for net-zero investment strategies and funds, aiming to channel money into renewable energy, clean technology, and decarbonisation projects that support net-zero pathways.
