See Where Government Says N10bn 'Green Bond Money' Will Go
In December 2017, Nigeria raised 10.6 billion Naira from its green bond and now, a top government official has revealed what the government intends to do with the money.
The Minister of State for Environment, Ibrahim Jibril, says the Federal Government will use the 10.6 billion Naira green bond to execute its Energising Education Programme.
Mr Jibril spoke in Abuja on Thursday on the sideline of the ministry’s preparation for the 12th National Council on Environment meeting that it would be executed through provision of solar in higher institutions.
The meeting will hold between October 29 and October 31, in Akure, Ondo State.
“We have already raised N10. 6 billion when we launched green bond last December. This money is targeted towards renewable energy.
“Therefore, we are partnering the Federal Ministry of Works, Power and Housing in its Energising Education Programme to provide solar power in the institutions of higher learning.
“This will serve as alternative means of raising fund to address climate related issues,” the minister said.
He said that the ministry issued the Green Bond as alternative source of funding because of the huge capital outlay required to finance the nation’s renewable energy projects.