The high-level engagement brought together regulators, clean cooking developers, technology providers, standards organisations, development partners, investors and carbon market practitioners to address one of the most critical challenges facing Nigeria’s climate finance ecosystem: the need for a coordinated, credible and scalable Monitoring, Reporting and Verification (MRV) framework.

The workshop was designed to support the development of a practical, Nigeria-aligned MRV coordination framework capable of reducing approval bottlenecks, strengthening investor confidence, accelerating carbon credit issuance and unlocking climate finance opportunities for clean cooking projects across the country.

Sessions began with an overview of how trusted data can help unlock climate finance and serve Nigeria’s developing carbon market goals. The challenges of disjointed MRV strategies, inconsistent methods, and a lack of stakeholder alignment were identified as contributing factors to delays in project approvals and funding.

Chinonso Agbo, program ,anager at PACE, said during the workshop that MRV was “the missing link between projects and finance,” emphasising the need for reliable measurement to convert climate aspirations into investment opportunities.

Delivering the workshop’s technical lead presentation, Dr Mrs Bekeme Olowola, chief executive of FuelTree and a Lead Facilitator of the engagement, emphasised the central role of data integrity in the future of carbon markets.

She said,

“Carbon markets ultimately run on confidence. Investors, regulators, buyers and communities must all trust that the impact being claimed is real. That trust does not begin with carbon credits. It begins with credible data, transparent systems and verifiable outcomes. If Nigeria gets MRV right, we can unlock climate finance at a scale that transforms both livelihoods and energy access.”

The workshop explored a wide range of issues affecting the future of clean cooking MRV in Nigeria, including interoperability between platforms, alignment with local and international certification frameworks, gender inclusion, last-mile delivery considerations, onboarding pathways for project developers, e-cooking opportunities, offline functionality requirements and practical implementation costs.

A key theme that emerged was the need to promote indigenous innovation and create pathways for Nigerian-developed clean cooking and MRV technologies to compete at regional and global levels.

Similarly, stakeholders converged on interoperability being a key principle that will guide the sector in Nigeria to allow for different technology providers and project developers to plug into the national framework to drive market activities.

In his remarks, Engr. Ega Ijachi, who represented SON, stated that standards will play critical role in helping build assurance across the ecosystem, and there are existing standards like Nigeria biomass standards that will fit into national plans towards convergence of continental and international quality management systems.

Discussions during the workshop also took place on improving institutional coordination along varieties of topics, ranging from carbon registries, governance and approvals process, along with needed capacity building for regulators and project developers.

On his part, Dr Ewah Eleri, founder/chief executive officer, ICEED, reiterated the need for stakeholders to work together if we must have a sustainable carbon market ecosystem.

“Nigeria has the opportunity to build a carbon market architecture that reflects our realities while meeting international expectations. Achieving that will require collaboration between regulators, project developers, standards bodies, technology providers and investors. Strong MRV systems are not merely a reporting requirement; they are a foundation for market confidence, climate integrity and sustainable growth.”

The quality and diversity of participation further demonstrated the importance of the conversation. Participants included representatives from the Energy Commission of Nigeria (ECN), Standards Organisation of Nigeria (SON), Federal Ministry of Petroleum Resources, Federal Ministry of Women Affairs and Social Development, Federal Ministry of Environment, Renewable Energy Association of Nigeria (REAN), Shehu Musa Yar’Adua Foundation, and several leading clean cooking, renewable energy, technology and carbon market organisations including BURN, UpEnergy, Solar Sister, Roshan Renewables, Femabol Energy, and others.

The workshop concluded with broad consensus around several priority actions, including promoting interoperability, strengthening standards alignment, supporting local innovation, improving stakeholder knowledge and capacity, and developing the institutional frameworks necessary to support a thriving Nigerian carbon market.

The engagement forms part of an ongoing collaboration between FuelTree, PACE and ICEED to strengthen Nigeria’s clean cooking and carbon market ecosystem and contribute to the country’s energy transition and climate finance objectives

Established as a special-purpose vehicle of SMEFUNDS, CSR-in-Action Consulting and Carbon Credit Network Africa (CCNA), FuelTree builds on more than a decade of sustainability leadership, community engagement, and carbon-project development experience.

FuelTree’s flagship innovation, the Virtual Cylinder Recirculation Model (vCRM), is a digital platform that enables households to access clean cooking liquefied petroleum gas (LPG) and nutritious food while generating verifiable carbon credits under international standards such as Verra and Gold Standard.

Each participating household which switches from firewood or kerosene not only avoids around 2–3 tonnes of CO₂e emissions per year, but also plays a direct role in Nigeria’s Decade of Gas, Energy Transition Plan (ETP) and the recently approved National Carbon Market Framework, helping the nation to achieve its targets for energy access, female empowerment and job creation through sustainable value chains.

FuelTree unites some of Africa’s foremost sustainability and carbon-market innovators, including leading Nigerian sustainability champion Dr. Bekeme Masade-Olowola, former board member of the Global Reporting Initiative (GRI), and Femi Oye, an internationally recognised renewable-energy entrepreneur and member of the Verra Stakeholder Council.

CCNA is Africa’s carbon aggregator with a proven track record of successful project implementation in clean cooking, agroforestry and distributed renewables.

CSR-in-Action is a think-tank with UN status, provides institutional credibility, policy and corporate sustainability and ESG experience and SME Funds brings deep technical experience in carbon-credit project development and last-mile energy distribution.

FuelTree Limited is the engine which takes these assets from policy and potential to measurable results for Nigeria, Ghana and beyond. CSR-in-Action’s international partnerships extend through its collaboration with Carbon Direct, a U.S.-based global leader in carbon management solutions.

As reported by Carbon Herald, “Carbon Direct and CSR-in-Action have teamed up to boost decarbonization in Africa.” This alliance brings world-class scientific and financial rigour to African carbon projects, enhancing FuelTree’s credibility among investors, regulators, and standard-setters.

“FuelTree represents a new era of African-led climate innovation, where we don’t just talk about transition; we build it, measure it, and make it profitable,” said Dr. Bekeme Masade-Olowola, Managing Director of FuelTree. “Our mission is to create millions of clean-energy households while driving measurable carbon revenue and inclusive prosperity.”

Mr. Femi Oye, CTO and renewable-energy pioneer, added: “Through FuelTree’s vCRM, we are digitising every tonne of avoided emissions; ensuring Africa’s carbon assets are traceable, tradable, and beneficial to local communities.”

FuelTree’s integrated model directly supports COP30’s thematic priorities, Energy Transition, Carbon Markets, and Food Systems, by connecting government, private sector, and communities in a transparent digital ecosystem.

Within its first phase, the company targets 100,000 households, scaling up to 10 million by 2030, unlocking significant carbon-credit revenues and socio-economic benefits.

The conference theme ‘From Emissions to Assets: Carbon Accounting, Trading, and Offsetting in Africa’s Extractive Sector’, explored the potential for high-integrity carbon markets to be a new revenue stream for Africa’s extractive sector, in compliance with regulations and contributing to social benefits.

The deliberations examined how people in the extractive sector can turn their environmental responsibility into economic value through reliable carbon accounting systems, participation in the market, and climate projects that benefit the community.

Opening the conference, Dr Bekeme Olowola, chief executive and convener of SITEI, underscored Africa’s strategic position in the evolving climate economy, noting that the continent must assert ownership over its climate agenda and carbon market architecture.

“Africa is no longer a peripheral player in the climate economy. We are increasingly the centre of global attention because of our natural capital, our demographic advantage and our emerging carbon market ecosystem. Africa must define its standards, set its pace and shape the narrative. This is why CSR-in-Action has, for over 15 years, championed the intersection of extractives, community rights, environmental governance and, now, climate finance,” she said.

Also speaking at the event, Femi Oye, co-founder of Kike AI, highlighted the scale of opportunity within the global carbon market and its implications for Africa’s economic future.

“The demand for carbon credits is expected to reach 300 million tonnes by 2030. With this potential, Africa can generate annual revenues of up to six billion dollars. But you cannot manage what you cannot measure. Carbon accounting is the bedrock of credible carbon credits. For Africa’s extractive industries, carbon markets represent a powerful pathway to lead the green transition while creating tangible economic value from responsibility,” he noted.

From a policy perspective, Esther Essien, Deputy Director, Strategy and Innovation Management Department at the Central Bank of Nigeria, emphasised Nigeria’s climate commitments and the need for robust regulatory frameworks to unlock carbon market growth.

“Nigeria aims to reduce greenhouse gas emissions by 20 percent unconditionally and 47 percent conditionally, with international support”, she stated. By 2060, we plan to achieve net-zero emissions. To realise this, we must establish carbon credit integrity standards, strengthen flaring and methane regulations, and provide fiscal incentives that enable cross-border energy and carbon trade frameworks.”

Echoing this position from an investment lens, Chigozie Ejimogu, Head of Sustainability at Verod Capital Management, emphasised the untapped potential in Nigeria’s emerging carbon market.

“There are significant opportunities in carbon credits, and Nigeria remains largely untapped. With the right frameworks for accounting, reporting and verification, companies can unlock new revenue streams, attract climate finance and contribute meaningfully to sustainable development,” he said.

A key highlight of SITEI 2025 was the announcement of a strategic partnership between CSR-in-Action, FuelTree Limited, SMEFunds and Carbon Credit Network Africa (CCNA) for the development of a technology-driven, community-focused carbon accounting system designed to accelerate clean cooking projects across Africa.

Announcing the collaboration, Dr Olowola explained that the initiative aims to transform carbon-intensive community activities into verifiable, investment-ready climate assets.

“We have co-developed a specialised project delivery framework with FuelTree that reflects our expertise in high-integrity emissions measurement and project-based carbon accounting. Through FuelTree’s Virtual Cylinder Recirculation Model (vCRM), emissions reductions become credible financial assets, helping investors tap into Africa’s projected six-billion-dollar carbon opportunity while ensuring Article 6 delivers real community benefits,” she said.

SITEI 2025 reinforced CSR-in-Action’s role as a catalyst for policy dialogue, industry reform and climate innovation within Africa’s extractive sector. Supported by Zenera Consulting and The Good Citizen, the conference emphasised the importance of incorporating integrity, transparency, and community ownership into Africa’s carbon market architecture as the continent gets ready to play a long-term role in the global climate economy.