Nigeria recently issued a N50 billion green bond to fund environmentally sustainable projects and reinforce the nation’s commitment to the Paris Agreement. The five-year bond follows earlier bonds issued in 2017 and 2019 that raised N25.69 billion. Speaking to News Agency of Nigeria, Dr Patience Oniha, Director-General of the Debt Management Office, said that the bond would finance projects aligned with Nigeria’s Nationally Determined Contributions (NDCs) to reduce greenhouse gas emissions. “We must give institutional investors an opportunity to ask questions, reflect, and begin their internal approval processes. This is not just fundraising; it is about our national commitment to sustainability,” said Oniha, and explained that price discovery would remain guided by market expectations.
Dr Iniobong Abiola-Awe, Director, Department of Climate Change, Federal Ministry of Environment, highlighted the urgency behind Nigeria’s green financing drive as the country grapples with the effects of climate change. “These bonds are not just financial tools. They are part of a homegrown, innovative solution to climate finance. Our progress so far, and this third issuance, reaffirm Nigeria’s commitment to consistent and sustainable financing for climate action,” said Abiola-Awe.
