The Federal Government is set to issue a third green bond valued at N50bn or N60bn to facilitate environmental financing, afforestation, and renewable energy, among others.
Green bonds are debt securities designed to finance environmentally friendly projects.
The Minister of State for Environment, Iziaq Salako, who disclosed this in an exclusive interview with our correspondent, said the green bond would be issued before the end of 2024.
“The green bond is about N50bn to N60bn. I hope that before the end of the year, I’m very positive that the issuance will be done,” he stated.
In 2017, the Federal Government issued a maiden N10.69bn green bond with a five-year tenor to fund projects for the development of renewable energy. With the successful first issuance in 2017, Nigeria became the first African country to take such an initiative.
In 2019, the government announced its second green bond issuance of up to N15bn. Recently the Nigerian Exchange Limited launched the impact board for listing sustainability instruments, which was approved by the Securities and Exchange Commission.
