…….as NSE Lists FGN N10.69 billion Green Bond
The Nigerian Stock Exchange (NSE), today listed the FGN N10.69 billion Green Bond on the Exchange, as part of efforts to make Nigeria one of the favoured investment destinations in Africa.
The Official Pioneer FGN Green Bond Listing Ceremony Forum at the Nigerian Stock Exchange CEO Oscar N. Onyema, during his opening remarks stated that “Considering that Nigeria derives more than 90 per cent of its export income from crude oil, the push for green bonds to finance capital projects that mitigate, and adapt to the effects of climate change, is particularly noteworthy.”
“The proceeds of the N10.69 Billion Green Bond were used to finance projects in the 2017 Appropriation Act that were certified as Green because of their positive effects on the environment – Renewable Energy Micro Utilities, Energizing Education and Afforestation Programmes,” he noted.
He went on to explain that, “Green bonds present a unique opportunity for financing our climate change objectives, delivering on critical infrastructure gaps, and unlocking the economic growth potential of this country.”
Green bonds are fixed income, liquid financial instruments used to raise funds dedicated to climate mitigation, adaptation and other environment-friendly projects. This provides investors with an attractive investment proposition and an opportunity to support environmentally and socially sound projects.
The NSE commended the effort of the Debt Management Office (DMO) on its continued efforts towards fostering a strong and vibrant debt capital market, particularly by diversifying the funding sources of the Federal Government and issuing a benchmark Green Bond.
The landmark initiative is the first Green Bond to be issued by an African Sovereign as Nigeria and the fourth nation in the world to issue after Poland, France and Fiji.