Nigeria Targets 150 Billion Naira In Green Bonds In 2018
After successful issuance of 10.69-billion-naira bond in 2017, the federal government now targets 150 billion naira through the financial instrument this year.
Mr Ahmad Salihijo told a panel discussion at the just concluded Social Media Week in Lagos, that the success of the green bonds in Nigeria resulted in a positive assessment by the international Climate Bond Initiatives, where the country is rated as the only country in Africa with such certification.
Mr Salihijo is a Technical Assistant to the Minister of Environment, Ibrahim Usman Jibril.
Green bonds is a specialized financial instrument that government uses to raise money to execute projects that will have reasonable impact on the environment.
Nigeria’s debut issuance of Green bonds was part of many efforts directed towards its Paris based nationally determined contributions commitments.
“Everybody is excited about the idea of climate funding, everybody wants to be a part of it. Highly reputable organizations within and internationally are supporting us.
“We will use the success of our first issuance to see how we can issue more. Where we are now, seeing the success of the first issue, our target this year is 150 billion naira. Already we are getting more proposals and support,” Salihijo said.
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