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.
“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
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.
SPECIAL REPORT: Shell’s inaccurate data raises questions around efforts to control methane emissions in Nigeria
Much worse for the environment than carbon dioxide, despite global efforts to control methane, emissions continue soaring. With over a...
FEATURE…Missing Rig Workers: Tragedy, Injustice and the Depthwize cabal
The serene landscape of Ovhor in Delta State bore witness to a disaster that shook the nation’s conscience. The capsize...
FEATURE… In the shadow of kidnappers: The story of Nigeria’s albatross
For decades, Nigeria has been grappling with a problem that has threatened the safety and stability of its people: kidnapping....
FEATURE: The falling standard of education in Nigeria today: Whose Fault?
Over the years, education has proven to be the fulcrum facilitating national development in any state. Through education, knowledge is...
INVESTIGATION: Failed multi-million naira constituency water projects litter Sokoto communities
Many rural communities in Sokoto State are at the risk of an outbreak of diarrhea and other diseases due to...