Toriola, Belo-Osagie, others Urge Investment in Nigeria’s Climate Policy

Dr Karl Toriola, Chief Executive Officer of MTN Nigeria; Dr Myma Belo-Osagie, Chair of the Climate Governance Initiative (CGI) Nigeria; and other prominent Nigerian business leaders have jointly called for greater investment in Nigeria’s climate policy framework.

The call came as Nigeria formally joined the global Climate Governance Initiative, a non-profit network dedicated to equipping corporate board members and leaders to take meaningful climate action.

A virtual launch event marked Nigeria’s entry into the initiative, bringing together diplomats, government representatives, business executives, and delegates from CGI chapters in the United Kingdom, South Africa, Egypt, and Kenya.

Dr Belo-Osagie, who chairs the CGI Nigeria Advisory Board, emphasised the importance of embedding climate leadership within Nigerian boardrooms.

“I am both pleased and honoured to welcome you to the official launch of the Climate Governance Initiative Nigeria – a pivotal step in our journey towards more sustainable and responsible corporate leadership,” she said.

“CGI Nigeria is part of a global movement inspired by the World Economic Forum, which recognises that when climate issues are properly understood in the boardroom, they can drive innovation, resilience and growth – whether through green finance, clean energy, regenerative agriculture, or circular business models.”

One of the most compelling contributions at the event came from Dr Karl Toriola, who delivered a session on the role of business leadership in advancing climate governance.

Toriola noted that climate-related risks are already affecting businesses like MTN in tangible ways – from the rising cost of capital to pressures around competitiveness and long-term viability. “Climate risk directly affects our bottom line,” he said. “It’s no longer a choice – it’s a necessity.”

He outlined how MTN has integrated climate governance across its operations, including a four-tier oversight structure that tracks sustainability initiatives across all departments.

“Every executive’s performance indicators are now linked to sustainability goals, which in turn influence bonuses and performance evaluations.

Toriola cited examples of the company’s energy efficiency measures, including the deployment of motion-sensitive lighting, solar-powered base stations, and energy-efficient cooling systems.

He also highlighted MTN’s recycling efforts – encompassing batteries, electronic devices and other waste – as part of its broader environmental strategy. In rural areas, MTN is expanding coverage through solar-only installations to reduce reliance on fossil fuels.

He further underscored the need for business leaders to make tough choices in order to support Nigeria’s green transition. “The role of business leaders is to make the necessary sacrifices to advance climate action across Nigeria and Africa,” he said. “As I always say, you can’t make an omelette without breaking eggs.”

In closing, Toriola reaffirmed that climate leadership must begin at the top – with the boardroom, the CEO, and every senior executive.

He called for deeper collaboration, stronger investment in climate infrastructure, and greater corporate accountability in environmental reporting and impact management.