By Promise Toyon
Nigeria has taken another major step toward a sustainable future with the launch of the $100 million Orteva Carbon Project, a partnership involving the Delta State Government, Orteva, and Eighth Versa.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on 8th October , 2025 , received a delegation from the project partners for strategic discussions on the initiative, which is aimed at unlocking climate finance, generating carbon credits, and driving the nation’s green economic agenda.
Describing the project as “a timely intervention fully aligned with President Bola Ahmed Tinubu’s vision of green growth and sustainable economic transformation,” Edun noted that it would play a vital role in diversifying Nigeria’s revenue sources beyond oil, attracting foreign exchange, and creating jobs for Nigerians.
The Orteva Carbon Project, which incorporates components such as mangrove conservation and biochar production, is projected to generate between $350 million and $2.8 billion in carbon credit revenue.
This, according to the Ministry, will help position Nigeria as one of Africa’s leading destinations for credible carbon trading.
Edun emphasised the Federal Government’s commitment to establishing a transparent and well-regulated carbon market framework with robust governance and fair pricing mechanisms. He said such frameworks would encourage private sector investment in environmentally beneficial ventures that also deliver sustainable financial returns.
The Ministry of Finance further reaffirmed its readiness to provide the necessary policy support, fiscal incentives, and credit enhancement structures to attract both local and international financing into the project.
With the Orteva Carbon Project, Nigeria signals a new phase of its economic evolution, one where environmental sustainability and profitability work hand in hand to power inclusive national growth.
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