Nigerian Exchange Group has secured multi-billion naira funding from DEG Impulse gGmbH, a subsidiary of the German Development Finance Institution, to implement its flagship NGX Net-Zero Programme (N-Zero).

In a statement made available to our correspondent on Thursday, the agreement was signed recently in Cologne, Germany, under DEG Impulse’s develoPPP initiative, which supports innovative private sector projects with high development impact. The funding marks a significant step in NGX’s efforts to enhance climate resilience and promote low-carbon development across Nigeria’s private sector.

According to the statement, N-Zero aims to equip businesses with the tools, frameworks, and technical guidance needed to set, validate, and achieve science-based emission reduction targets.

The programme aligns with Nigeria’s commitment to the Paris Agreement and the global goal of limiting temperature rise to 1.5 degrees Celsius.

Through the programme, NGX will collaborate with global climate partners, including Africa Foresight Group, to help companies develop transition plans and carbon projects that generate verifiable carbon credits. This is expected to support economic resilience, encourage green investments, and contribute to a decarbonised economy.

The Group Managing Director and Chief Executive Officer of NGX Group, Temi Popoola, described the partnership as a milestone in the company’s sustainability journey. He said, “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.”

Also, the Group Chairman of NGX Group, Umaru Kwairanga, said the initiative positions NGX at the forefront of climate leadership in Africa.

“Capital markets must play a central role in delivering climate solutions, and this partnership is a model for what is possible when global institutions collaborate with local expertise,” he added.

The Managing Director of DEG Impulse, Hubertus Pleister, noted that with support from the German Federal Ministry of Economic Cooperation and Development, the develoPPP initiative contributes to NGX’s transformation by addressing climate risks and advancing sustainability through strategic collaboration.