The Nigerian Exchange Group (NGX Group), a leading integrated market infrastructure provider in Africa, has signed a funding agreement with DEG Impulse gGmbH, a subsidiary of the German Development Finance Institution, DEG – Deutsche Investitions-und Entwicklungsgesellschaft mbH, part of KfW Banken- gruppe, to commence the implementation of its flagship NGX Net-Zero Programme (N-Zero).
The recently signed agreement in Cologne, Germany, marks a major step forward in NGX Group’s efforts to strengthen climate resilience and promote low carbon development across Nigeria’s private sector.
The multi-billion-naira funding was secured under DEG Impulse’s develoPPP programme, which supports innovative private sector initiatives with high development impact.
N-Zero is designed to support businesses with the tools, frameworks, and technical guidance required to set, validate, and achieve science-based emission reduction targets. It aligns with Nige- ria’s commitment to the Paris Agreement and the global goal of limiting temperature rise to 1.5°C.
By bringing together global climate partners, including implementing partner Africa Foresight Group (AFG), NGX Group, through N-Zero, will assist companies in developing credible transition plans and carbon projects that generate verifiable carbon credits, thereby supporting economic resilience, promoting green investments, and contributing to a decarbonized future.
Temi Popoola, Group Managing Director/Chief Executive Officer of NGX Group, said: “The signing of this agreement with DEG Impulse marks a significant milestone in our sustainability journey.
This partnership demonstrates strong confidence in our vision to drive sustainable finance, build a climate conscious private sector in Nigeria and champion climate action across Africa. Through N-Zero, we aim to translate ambition into measurable impact by reducing emissions and positioning Nigerian corporates to benefit from emerging opportunities in the global carbon market.”
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