The Ministry of Environment has revealed plans by the Federal Government of Nigeria to raise N20 billion ($65.6 million) by March 2017 through the sale of a Green Bond, to help finance renewable energy projects in the country.

According to the Minister of Environment, Amina Mohammed (photo), the government wishes to achieve this goal with the call made to Nigerians to support the issuing of what she terms as the first sovereign Green Bond by an emerging market.

“It is about leveraging external resources to support the renewable energy projects in the sector. We are on track to sell the bond in the first quarter, and could have another by the end of the year,” she told Punch news.

The Minister added that bond will also help fund an electric commuter vehicle project and tree-planting in the North.

Anita Fatunji