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ABUJA – The Federal Government is advancing its green growth agenda with the launch of the $100 million Orteva Carbon Project, a major initiative designed to unlock climate finance, generate carbon credits, and accelerate the country’s transition to a sustainable economy, Federal Ministry of Finance has said.

The landmark project was highlighted by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, during strategic discussions held in Abuja with a delegation from Orteva, in partnership with the Delta State Government and Eighth Versa.

According to a statement signed by Mohammed Manga, FCAI, Director of Information and Public Relations, describing the project as a timely intervention, Edun emphasized the project’s alignment with President Bola Ahmed Tinubu’s vision of green growth and sustainable economic transformation.

The initiative forms a core part of Nigeria’s Energy Transition Plan and aims to diversify government revenue beyond oil, attract foreign exchange, and create jobs for Nigerians.

With efforts including mangrove conservation and biochar production, the Orteva Carbon Project is projected to generate between $350 million and $2.8 billion in carbon credit revenue, establishing Nigeria as a leading hub for credible carbon trading in Africa.

Minister Edun assured that the government is committed to developing a transparent carbon market framework with robust governance and pricing mechanisms.

Highlighting opportunities for the private sector, he noted that the project offers avenues to invest in environmentally protective initiatives that deliver sustainable economic returns.

The Federal Ministry of Finance pledged to provide the necessary policy, fiscal, and credit-enhancement structures to attract both domestic and international financing.

The Orteva Carbon Project marks a new economic frontier for Nigeria where sustainability and profitability merge to drive inclusive growth.