Nigeria faces the risk of forfeiting hundreds of millions of dollars in potential carbon credit income to overseas consultants. According to climate finance expert Olusola Omole, the country must rapidly cultivate a skilled local workforce to tap into the booming global carbon market.
The global voluntary carbon market is expected to surge from $5.3 billion in 2025 to nearly $24 billion by 2030. Carbon credits, which represent one metric tonne of carbon dioxide removed or avoided, are highly sought after by corporations and governments. Nigeria has the natural resources—including forests and wetlands—to participate, but lacks the domestic professionals to design, verify, and monetize these projects.
Omole, a co-founder of AgLane Climate Action Foundation, argues that Nigeria’s primary obstacle is not policy or funding, but a talent gap. Estimates suggest Nigeria could produce 30 million credits annually by 2030, potentially generating $500 million in yearly revenue and creating over three million jobs. Currently, however, the nation relies on foreign experts for roles such as carbon accounting, environmental auditing, and remote sensing. This reliance causes significant project revenues to flow out of the country rather than stimulating the local economy.
