JUST IN: PACE opens floodgates of climate funds says states, private sector to benefit from billion-dollars opportunities 

 

 

 

 

 

 

 

In a bold move to fast-track Nigeria’s climate resilience and sustainable development goals, the Partnership for Agile Governance and Climate Engagement (PACE) has unveiled a comprehensive Climate Finance Access Guide, designed to help governments and businesses unlock billions of dollars in global green funding.

 

 

 

 

Speaking during the high-level launch, Ifeanyi Peters Ugwuoke National Team Lead of PACE, declared that “finance is the lifeblood of climate action”, stressing that Nigeria’s fight against the devastating effects of climate change hinges on the country’s ability to access and deploy funds effectively.

 

 

 

 

 

“Climate change is an existential threat and nothing happens without finance,” Ugbuoke stated. “This guide shows governments and eco-friendly businesses where the money is, how to access it, and what conditions must be met to unlock it.”

 

 

 

He revealed that over 18 major international and domestic climate funds are available for Nigeria’s public and private sectors but accessing them requires meeting strict global criteria. 

 

 

 

 

The new guide provides a step-by-step roadmap for navigating those requirements, ensuring that both state governments and green businesses can secure investments to build infrastructure, strengthen energy systems, and mitigate environmental risks such as flooding, desertification, and deforestation.

 

 

 

 

Ugbuoke emphasized that the tool is tailored to empower sub-national governments, particularly the states, to take charge of their local climate response through readiness assessments, institutional reviews, and technical assistance provided by PACE.

 

 

 

“This is not just about awareness; it’s about action. The guide equips state governments to identify their challenges, meet global funding conditions, and build the resilient infrastructure needed to protect lives and livelihoods,” he said.

 

 

 

 

Also speaking, Dr. Chinedu Eze, Green Public Financial Management (PFM) Advisor with PACE, underscored the guide’s dual focus on both government and the private sector, calling it a “strategic bridge to channel new financial flows into Nigeria’s climate agenda.”

 

 

 

 

“Government resources are limited. This guide creates a pathway to attract additional funds to strengthen state budgets and empower eco-friendly businesses to execute sustainable projects,” Eze explained.

 

 

 

 

He further noted that most climate impacts and solutions lie at the state and community levels, where institutional weaknesses often hinder access to available funds. 

 

 

 

 

The guide, he said, will help states evaluate their legal frameworks, project design capabilities, and financial management systems, ensuring they meet global transparency and accountability standards.

 

 

 

 

PACE’s Climate Finance Guide also introduces a readiness assessment toolkit that helps States measure their institutional capacity, legal and regulatory strength, and citizen engagement mechanisms, key elements required by global climate financiers.

 

 

 

 

 

As Nigeria battles intensifying floods, rising temperatures, and environmental degradation, experts say this initiative could become a turning point in the country’s climate response, transforming political commitments into bankable, sustainable 

 

 

 

 

 

With the Climate Finance Guide now available via PACE’s online platform, the message from the summit was clear: the funds exist now Nigeria must be ready to unlock them.