–      As Africa told to move from drafting rules to closing deals

Kuni Tyessi in Abuja

A Nigerian carbon project developer, 9JA Carbon Trade has declared that Nigeria’s carbon market system is working following the federal government’s first approvals for international carbon credit sales.

The company, a subsidiary of Qietur Limited specialising in land-use projects, made the assessment after participating in the Carbon Markets Africa Summit (CMAS) 2026 in Kigali, Rwanda.

The summit, which drew 600 delegates from 52 countries and over 150 organisations, closed on October 15 with a call on African governments, buyers and financiers to move from writing rules to delivering projects.

At a session on country readiness on October 14, Senior Special Assistant to the President on Climate Finance and Stakeholder Engagement, Ibrahim Shelleng, said Nigeria issued six Letters of Authorisation in March 2026 and two more by September.

A Letter of Authorisation is the federal government’s formal approval for carbon credits generated in Nigeria to be traded and used outside the country.

Speaking at the summit, Co-Technical Manager of 9JA Carbon Trade Ltd, Timothy Solomon, said the Kigali meeting changed the question Africa is asked.

“Kigali changed the question Africa is asked. It is no longer whether the continent can supply carbon credits, but whether it can deliver them with integrity, at fair prices and with benefits host communities can see. Nigeria now has the framework and its first approvals. Our part is to bring forward projects worth approving,” Solomon said.

Also speaking from the floor, Co-Technical Manager, Ekene Okpara, said the authorisations give developers confidence that the process works.

He asked whether Nigeria plans a bilateral carbon agreement with another country and sought advice for developers still awaiting approval from the National Council on Climate Change (NCCC).

The company also joined a roundtable on October 15 at the summit’s solution lab on reducing risk for private investors.

Closing the summit on behalf of Rwanda’s Minister of Environment, the Acting Permanent Secretary listed six points of agreement, including that integrity creates value, trust is the currency of the market, and communities are partners whose benefits must be shared.

Africa, the statement said, must capture more value rather than simply supply credits.

Governments were asked to finish their rules, apply them and publish every authorisation and transfer, while buyers and investors were urged to move “from signals to signatures” with long-term purchase agreements at fair prices.

Development partners were asked to fund project preparation, described as the stage “where good projects die today.”

Declaring the summit open, Rwanda’s Minister of Environment, Dr Bernadette Arakwiye, said: “Writing rules is one thing, and running them is another.” She noted that 87 per cent of Rwanda’s issued credits come from improved cookstoves while agriculture accounts for barely one per cent of voluntary market credits in two decades.

The International Air Transport Association (IATA) told delegates that CORSIA, the United Nations scheme for international aviation, becomes mandatory in 2027 and will require government-authorised credits.

The European Commission disclosed plans to buy credits covering up to 260 million tonnes of carbon dioxide equivalent between 2036 and 2040.

Lorna Ritchie of the Integrity Council for the Voluntary Carbon Market said credits carrying its Core Carbon Principles label sell for about 25 per cent more on average, while ratings agency BeZero Carbon said reforestation credits range from $5 to over $40 depending on rating.

The African Union Development Agency (AUDA-NEPAD) said Africa still relies on foreign verifiers for over 90 per cent of verification work, causing up to half of project delays. It said its accelerator programme will help build African validation and verification bodies.

The Africa Carbon Investment and Finance Alliance (ACIFA) was launched at the summit to connect projects with finance, while the United Nations Development Programme (UNDP) offered five support windows.

The summit urged Africa to arrive at COP31 in November “with one voice and with evidence of delivery.”