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Nigeria Launches N50bn Green Bond to Fund Climate Projects
The Business NG
|The BusinessNG
Nigeria is scaling up its climate finance efforts with the launch of a new 50 billion Sovereign Green Bond, its third in less than a decade.
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The bond, which was unveiled at an investor engagement forum in Lagos, aims to support projects that align with the country’s climate goals under the Paris Agreement.
Director-General of the Debt Management Office (DMO), Dr. Patience Oniha, said the five-year bond will fund environmentally sustainable initiatives, including renewable energy, afforestation, and energy access schemes. She added that the initiative builds on the success of Nigeria’s previous green bond issuances in 2017 and 2019, which raised over 25 billion.
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