The Federal Government has launched the Fast Tracking Transformation through Sustainable Public Finance for Biodiversity Project and inaugurated an Inter-ministerial Project Steering Committee to guide its implementation, in a decisive move to align Nigeria’s public finance system with biodiversity protection and climate priorities.
The event, held at the Federal Ministry of Finance Headquarters in Abuja, underscored Nigeria’s commitment to strengthening the integration of environmental sustainability into fiscal policy, budgeting and economic planning.
Speaking on behalf of the Permanent Secretary, Federal Ministry of Finance, Mr. Raymond Omachi, the Director, International Economic Relations Department, Mr. George Nyeso Stanley, described the initiative as a timely and strategic intervention.
He stated that Nigeria must move beyond policy commitments to practical alignment of financial systems with biodiversity and climate objectives.
He noted that biodiversity remains a critical economic asset that supports livelihoods, food security and national resilience, stressing that safeguarding it must be reflected in how public resources are mobilized and allocated.
The Permanent Secretary emphasized that Nigeria is confronted with increasing environmental pressures alongside competing fiscal demands. He noted that biodiversity loss, land degradation and climate change continue to pose risks to economic stability and long term development.
According to him, “the project is designed to strengthen the integration of biodiversity considerations into fiscal policies, budgeting frameworks and economic planning processes”, describing it as a core economic priority rather than a stand-alone environmental concern.
He further highlighted the importance of coordination across government institutions, noting that no single ministry can drive the required transformation in isolation. He therefore charged members of the Steering Committee to ensure policy integration, improve resource mobilization and promote institutional collaboration in the implementation of the project.
A major highlight of the event was the formal inauguration of the Inter-ministerial Project Steering Committee, which will provide strategic direction, ensure policy coherence and oversee implementation in line with national priorities.
In her remarks as Co-Chair, the representative of the German Embassy in Nigeria, Dr. Karin Jansen, stated that the project will promote collaboration among Ministries of Finance in partner countries including Brazil, Costa Rica, Indonesia and Nigeria. She noted that the initiative will strengthen Nigeria’s capacity to deliver sustainable infrastructure and improve development outcomes, while also creating opportunities for job growth and enhanced livelihoods.
In his goodwill message, the Cluster Coordinator for Just Transition and Inclusion at GIZ Nigeria and ECOWAS, Mr. Duke Benjamin, reiterated that the project provides a platform for stronger coordination and collective action. He stated that integrating environmental sustainability into public finance systems is essential for achieving inclusive growth and long term economic stability.
The project is being implemented in collaboration with GIZ Nigeria and ECOWAS and the United Nations Environment Programme, with funding support from the International Climate Initiative of the German Government.
During the event, the Federal Ministry of Finance reaffirmed its commitment to driving reforms that promote sustainable public finance, economic resilience and environmental stewardship, noting that the success of the initiative will depend on sustained collaboration across government and with development partners.
Efe Ovuakporie
Deputy Director, Information and Public Relations
April 29th, 2026
