Nigeria plans $64m green bond issue by April

The Federal Government plans to launch a N20 billion ($64 million) green bond in April to fund projects and enhance sustainable development.

Acting President Yemi Osinbajo stated this yesterday while addressing participants at the Green Bonds Capital Market & Investors Conference organised by the Federal Ministry of the Environment and the Debt Management Office (DMO) at the Nigerian Stock Exchange (NSE) in Lagos.

Osinbajo added the bond issuance would boost the Federal Government diversification strategy to non-oil sectors, eradicate poverty and deepen the nation’s capital market.

According to Osinbajo, climate change had led to natural disasters, which has resulted to shortage of food and energy supply, and ultimately increased the level of poverty in the Nigeria.

The Minister of Environment, Mrs. Amina Mohammed said that the initiative was in line with the Federal Government sustainable development initiative developed since September 2016.

Mohammed, who is due to join the United Nations as deputy secretary general, told investors the programme was part of plans to widen Nigeria’s funding options and diversify its oil-dependent economy.

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