The House of Representatives Committee on Renewable Energy has thrown its weight behind plans to establish Nigeria’s first dedicated Green and Climate Finance Bank, describing the initiative as a strategic move to accelerate the country’s transition to a low-carbon, climate-resilient economy.
The endorsement was announced at a press conference held at the National Assembly Complex in Abuja, where Chairman of the Committee, Hon. Afam Victor Ogene, said the proposed institution would serve as “a strategic national instrument to attract climate investment at scale and position Nigeria as a continental leader in sustainable finance.”
He noted that the initiative aligns with the mandate of the Committee as assigned by the 10th House of Representatives, particularly in formulating policies and initiatives to fast-track investment in renewable energy technologies, alongside its oversight responsibilities.
According to the lawmakers, interactions with stakeholders across the renewable energy sector consistently identified access to finance as a major constraint. Industry players cited difficulties in securing funding for local technology development, training to bridge knowledge gaps, and procurement of goods and services. In that context, the committee described the proposed specialised bank as a timely and necessary intervention.
Providing further details, Dr. Samuel Brown, who represented the promoters of the Green Bank project, Quantum Partners Investment Services Ltd, said Nigeria faces pressing climate and energy challenges, including flooding, desertification, food insecurity, and persistent power deficits. However, he added that the country also possesses significant green investment potential.
Citing projections by the International Finance Corporation, Brown stated that Nigeria’s climate investment opportunity could reach approximately $104 billion by 2030 across sectors such as renewable energy, climate-smart agriculture, green buildings, transport, and resilient infrastructure.
Despite these opportunities, he said access to stable and affordable climate finance remains limited. He explained that Nigeria’s climate commitments under the Paris Agreement and its Nationally Determined Contributions require substantial annual investments to meet adaptation and mitigation targets, adding that existing financial institutions alone are unable to bridge the financing gap.
The proposed Green and Climate Finance Bank, he said, is designed to address this structural challenge by mobilising private and institutional capital through innovative risk-sharing mechanisms, offering long-tenor and flexible financing for renewable energy and sustainable infrastructure projects, supporting MSMEs, women-led enterprises and green entrepreneurs, and strengthening Nigeria’s access to international climate funds and blended finance structures.
Quantum Partners Investment Services Ltd is leading the initiative and has developed a comprehensive business plan and governance blueprint aligned with global best practices, including climate disclosure requirements and environmental and social risk standards.
Hon. Ogene stressed that the bank aligns directly with the legislative and oversight priorities of the House Committee on Renewable Energy. He reaffirmed the National Assembly’s commitment to creating an enabling environment for renewable energy deployment, enhanced private sector participation, and increased sustainable investment flows into Nigeria.
“This initiative is not merely about establishing another bank,” he said. “It is about building an important platform that can attract private capital, make green investments, create jobs for our young people, and strengthen Nigeria’s energy security.”
The promoters are currently raising $15 million in founding capital to secure regulatory approvals, establish core operations and digital infrastructure, and commence lending and project financing activities. The target operational launch date is early 2027.
The committee chairman called on development finance institutions, sovereign wealth funds, pension funds, impact investors, and forward-looking private investors to support the initiative. He also underscored the importance of strong collaboration among the executive, legislature, private sector, and international partners to ensure Nigeria fully participates in the global transition to sustainable finance.
“This is an important moment,” Ogene concluded. “Nigeria must not only participate in the global green transition; we must shape it in a way that serves our people, strengthens our economy, and secures our future.”
Interested stakeholders were advised to contact Quantum Partners Investment Services Ltd in Abuja via its website, www.qpclimate.com, or email stakeholders@qpclimate.com for further information.