Shettima Heads to Brazil for COP30, Eyes $3bn Carbon Finance Deal

Daniel Otera
2 Min Read

Vice President Kashim Shettima has departed Abuja for Brazil to represent President Bola Ahmed Tinubu at the 30th United Nations Climate Change Conference, COP30, holding in Belém, Pará State, from 6 to 7 November.

The summit, convened by Brazilian President Luiz Inácio Lula da Silva, will bring together global leaders, development partners, and business executives to deliberate on climate action, forest conservation, biodiversity, and climate justice under the theme “Climate Action and Implementation.”

According to a statement from Stanley Nkwocha, Media Assistant to the Vice President, Shettima is scheduled to deliver Nigeria’s national address at the general plenary and participate in high-level engagements including the launch of the Tropical Forest Forever Fund and a roundtable on Climate and Nature chaired by President Lula.

“He will be joining other leaders to discuss practical steps for climate adaptation and sustainable development,” Nkwocha said.

On the second day, Shettima will join two strategic roundtables focused on energy transition and the review of the Paris Agreement, particularly Nigeria’s Nationally Determined Contributions (NDCs) and climate financing mechanisms.

Nigeria is expected to use the summit to advance its participation in global carbon markets, with projections to unlock between $2.5 billion and $3 billion annually in carbon finance over the next decade. These funds are aimed at supporting Nigeria’s climate goals and sustainable development agenda.

Beyond COP30, Shettima will proceed to Brasilia for a diplomatic engagement with Brazilian Vice President Geraldo Alckmin. The visit is a follow-up to Alckmin’s historic three-day trip to Nigeria in June, during which both countries signed several Memoranda of Understanding (MoUs) covering defence, agriculture, energy, and cultural exchange.

The Vice President’s visit is expected to strengthen Nigeria’s South-South cooperation and deepen bilateral ties with Brazil, especially in areas of climate resilience and green economy.

Shettima is accompanied by senior government officials and is expected to return to Nigeria upon completion of his official engagements.

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