NGX Partners with Germany to Slash 20,000 Tonnes of Carbon Emissions in Nigeria

The Nigerian Exchange Group (NGX Group) has signed a strategic funding agreement with DEG Impulse gGmbH, a subsidiary of Germany’s Development Finance Institution, DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, to kick-start its flagship climate initiative, the NGX Net-Zero Programme (N-Zero).

Sealed in Cologne, Germany, the agreement marks a significant step in NGX Group’s mission to promote low-carbon growth and climate resilience within Nigeria’s private sector.

The deal, supported through DEG Impulse’s develoPPP programme and backed by the German Federal Ministry for Economic Cooperation and Development (BMZ), is set to channel multi-million-naira funding into enabling Nigerian businesses to reduce greenhouse gas emissions and transition towards sustainability.

The N-Zero Programme is designed to equip companies with the tools, frameworks, and technical support needed to set, validate, and meet science-based emission reduction targets.

Over its two-year span—from June 2025 to April 2027—it aims to help at least 26 companies implement environmental and social standards while facilitating access to carbon markets through credit registration and verified emissions offsetting.

Importantly, the initiative is projected to cut or avoid 20,000 tonnes of greenhouse gas emissions, positioning NGX Group as a trailblazer in Africa’s green finance landscape.

Temi Popoola, Group Managing Director and CEO of NGX Group, described the partnership as a major milestone: “This collaboration reflects international confidence in our sustainability vision and reinforces our commitment to driving sustainable finance, fostering a climate-conscious private sector in Nigeria, and unlocking opportunities in the global carbon market.”

Group Chairman, Umaru Kwairanga, emphasised the broader implications for Africa’s capital markets: “By launching the N-Zero Programme, we are taking a bold step towards climate leadership, demonstrating that local expertise and international collaboration can deliver transformative impact.”

Dr Hubertus Pleister, Managing Director of DEG Impulse, noted: “Through the develoPPP initiative, and with support from BMZ, we are proud to contribute to NGX’s transformation journey. This partnership underlines our shared commitment to building resilient capital markets and advancing sustainability.”

The N-Zero initiative aligns with Nigeria’s obligations under the Paris Agreement and directly supports Sustainable Development Goal 13 (Climate Action), reinforcing NGX Group’s role in steering Nigeria’s transition to a greener and more inclusive economy.