Nigeria To Delay Green Bond Sale Until 2017 Budget Is Passed
Nigeria will delay the issuance of a planned green bond until the 2017 budget has been passed, the environment minister said on Wednesday.
The government had planned to launch the 20 billion Naira bond in April to fund projects to reduce carbon emissions and develop renewable energy.
Announcing the plans in February, the environment ministry said the programme was aimed at widening Nigeria's funding options and diversifying the economy.
"All is set for its formal launch but the budget has to be passed first before the issuance," Ibrahim Usman Jibril, told reporters in Abuja, after the federal executive council meeting.
The 2017 budget may be passed earlier this year as lawmakers have resolved to do it swiftly.
Last year, there were wranglings between parliament and the presidency over alleged cases of padding.