Nigeria’s retail lender, Unity Bank Plc, has called for increased investment in the green economy and adoption of frontier technologies as critical levers for strengthening economic resilience and mitigating the impact of climate change across Africa.
The call was made during a webinar hosted by the bank to mark Earth Day, themed “The True Cost of Climate Change and Who Pays?”
During the virtual engagement held on Wednesday, April 22, 2026, climate experts and stakeholders examined the economic and social consequences of climate change while proposing actionable solutions.
In his opening remarks, the bank’s Head of Strategy and Innovation, Ibukun Coker, stressed the urgency of integrating sustainability into financial and business decision-making.
What the experts are saying:
Coker said that financial institutions must play a leading role in supporting climate-resilient investments.
- “Climate change is no longer a distant or abstract challenge. It is an existential threat with direct consequences for individuals, businesses, and economies,” he said.
- “The true cost of climate change is not evenly distributed. Communities with the least resources are often the most affected,” said Chinwe Udo-Davis, Founder of Instollar.
- While highlighting the uneven impact of climate change, particularly on underserved populations, Udo-Davis called for scalable and inclusive clean energy investments.
- “Climate change is fundamentally a structural problem, and its solution requires a paradigm shift—from innovation and policy to financing and implementation,” said Oluwatosin Ajide of the Nigeria Climate Innovation Centre.
Providing insights into the structural drivers of climate risks and potential solutions, Ajide emphasised the need for coordinated action across sectors, noting that climate change requires systemic solutions.
More insights:
The discussion spotlighted emerging opportunities in renewable energy, climate technology, and ecosystem financing, with participants highlighting innovation as a key driver of long-term sustainability.
- Unity Bank noted that its engagement reflects a broader commitment to embedding environmental considerations into financial services.
- The lender particularly highlighted project financing and support for small and medium-scale enterprises.
The bank also reiterated the importance of cross-sector collaboration in delivering scalable solutions that address both environmental and economic challenges.
What you should know:
The push for green investment comes amid growing global focus on climate finance and sustainability, with financial institutions increasingly expected to align capital allocation with environmental goals.
- For Nigeria and the broader African region, expanding investment in clean energy and climate innovation is seen as essential to reducing vulnerability to climate shocks while unlocking new growth opportunities.
- By convening stakeholders and promoting dialogue, Unity Bank is positioning itself within the evolving sustainability landscape, where financial inclusion, innovation, and environmental stewardship intersect.
Analysts say sustained investment in green infrastructure and technology could play a pivotal role in building resilient economies, particularly as climate risks continue to intensify across developing markets.
it has simply become imperative that todays banking managers should gradually drive the engine growths of their wheelbarrows tending towards the grassroots.
Matter of fact, every business revolves around FINANCE; which is the hallmarks of economic growths and wealth creations. Nonetheless, this action,if implemented will go a long way in bridging the widening gap between the rich and the poor. Simply put,implementation of both short-term and long-term small scale enterprises loan should nip it in the bud;if holistically adhered.
in a fast growing and seemingly divergent economy like ours ,it would be impudent of our economic planners to look inward towards most of our locally sourced agricultural products to jumpstart the economy.