Business
Nigerian govt lists N10.69bn first African Sovereign Green Bond
The Federal Government of Nigeria Friday issued its pioneer Sovereign Green Bond worth N10.69 billion.
This makes the country the first African nation to issue a sovereign green bond, and the fourth nation in the world after Poland, France and Fiji.
The bond was listed on the Financial Markets Dealers Quotations over-the-counter (FMDQ) securities exchange and the Nigerian Stock Exchange (NSE).
According to FMDQ, the Sovereign has set a pace for the nation to tap into the huge potential of green finance.
The Debt Management Office (DMO), which performed the listings on behalf of the Nigerian government, noted that the bond would be issued at 13.48 percent fixed rate with a tenure till December 22, 2022.
In his keynote address, the Minister of State for Environment, Mallam Ibrahim Jibril, lauded the partnership with the DMO and FMDQ for the fruition of the maiden Green Bond listing.
Read also: Nigeria Air to start operation with 15 hired aircraft, Ethiopian Air claims
“The Green Bond provides an innovative funding scheme for the FG to address environmental issues in the country,” he said.
Reacting, the Chef Executive Officer of NSE, Oscar Onyema, also commended DMO’s efforts towards fostering a strong and vibrant debt capital market, particularly by diversifying the funding sources of the Federal Government and issuing a benchmark Green Bond.
Green bonds are fixed income, liquid financial instruments issued in partnership with the Federal Ministry of Environment to raise funds towards financing climate mitigation, adaptation and other environment-friendly projects.
By Oluwasegun Olakoyenikan….
RipplesNigeria… without borders, without fears
Click here to join the Ripples Nigeria WhatsApp group for latest updates.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.