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FG seeks climate finance reform, urges developed nations to fulfil $100bn pledge

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The federal government has urged members of the Non-Aligned Movement (NAM) to strengthen solidarity and deepen cooperation in addressing global challenges such as climate change, debt crises, and inequality.

Nigeria made the call on Tuesday through Dunoma Umar Ahmed, permanent secretary, Ministry of Foreign Affairs, during the 19th Ministerial Meeting of the Coordinating Bureau of NAM held in Kampala, Uganda.

In his address, Ahmed reaffirmed Nigeria’s commitment to the core principles of NAM, solidarity, justice, equity, and peace, while commending President Yoweri Kaguta Museveni and the people of Uganda for their hospitality and leadership of the movement.

“The world today faces multiple, interlinked crises from climate-induced disasters and terrorism to pandemics and widening inequalities.

‘These burdens cannot be borne by any nation alone. We must strengthen solidarity and cooperation to achieve sustainable development, which remains the surest path to peace, security, and prosperity,” Ahmed said.

The Permanent Secretary underscored the urgent need for developed countries to meet their climate finance commitments, stressing that developing nations continue to show leadership in environmental action despite limited resources.

He called for the fulfilment of the long-overdue $100 billion annual climate finance pledge by developed countries and a scale-up to at least $1 trillion annually to meet the climate and sustainable development goals of the Global South.

Ahmed highlighted Nigeria’s ongoing domestic reforms aimed at mobilising private capital for green investments. He cited the creation of the National Credit Guarantee Company and coordinated efforts across key ministries, solid minerals, finance, power, and environment to integrate green guarantees as tools to de-risk investments and attract private sector financing.

According to him, instruments such as green guarantees could mobilise five to six times more financing for sustainable development than conventional tools.

He praised initiatives like the Green Guarantee Group (GGG) for catalysing innovative climate solutions but stressed the need for stronger support from multilateral banks and global partners to lower the cost of green capital.

Reaffirming Nigeria’s long-standing position on the Middle East crisis, Ahmed declared that the Palestinian question remains central to the Non-Aligned Movement’s identity and mission.

“Nigeria condemns the ongoing occupation and the grave violations of international law and human rights suffered by the Palestinian people. We stand firmly with their legitimate aspirations for statehood and self-determination,” he said.

Read also: NUPRC expect additional 600,000bpd crude from fresh investment

He reiterated Nigeria’s support for a two-state solution, with an independent State of Palestine based on the 1967 borders and East Jerusalem as its capital.

Ahmed also called for urgent reform of global multilateral institutions, arguing that the current system no longer reflects present-day realities or ensures fair representation.

Without reform, he warned, international governance risks losing legitimacy and trust among nations.

Ahmed pledged Nigeria’s continued dedication to the founding principles of the Non-Aligned Movement and its readiness to collaborate with other member states in building a world anchored on equity, mutual respect, and shared prosperity.

“The challenges before us are formidable, but with solidarity, cooperation, and principled leadership, they are not insurmountable,” he stated.

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