Nigeria: FG to issue Green Bonds to fund N52bn climate-friendly projects
Friday, 10 February 2017 16:43
The Federal Government of Nigeria has identified climate-friendly projects valued at N52 billion ($165 million), according to the Permanent Secretary of the Ministry of Environment, Bukar Hassan.
Hassan who declared this during a meeting of Permanent Secretaries on Green Bonds in Abuja said the project would be financed through Green bonds.
He noted that the government plans to issue the first sovereign green bond by March, this year.
According to the Adviser on Climate finance, Ministry of Environment, Obi Ugochukwu, the first climate project would begin by March and create about 214, 000 jobs. The pilot project would cover afforestation programme that would result in more tree planting in selected states.
Ugochukwu stated that the green bond would also finance alternative sources of energy in 37 universities and 7 teaching hospitals while 20,000 solar units would be distributed nationwide.
Partners on this projects are, UNEP, World Bank, Department of International Development (DFID) and financial institutions like Nigeria Stock Exchange, Stanbic IBTC and Citi bank.
Anita Fatunji
Additional Info
- communiques: Non
- couleur: N/A
Live News
-
Togo, Benin and Senegal launch free community roaming services
19:15
-
Ecobank’s 2025 performance: growth, discipline and the return of dividends
18:41
-
Weekly Health Update | Vaccination Gains Advance in Africa; Antimalarial Resistance Threatens Progress
18:16
-
West Africa’s Onion Trade Runs Largely on Informal Networks — a System Both Stabilizing and Fragile
17:42
-
Niger Tightens Firearms Regulations Amid Rising Security Threats
20:52
-
Ahmed Rostom’s Wuilt Simplifies Online Business Creation Across Africa
17:55
-
Botswana Tech Fund Debuts $67.5 Million Vehicle for Southern African Startups
17:54
-
Burkina Faso Prioritizes Tech Sovereignty in Talks with Italian Investors
17:52
-
IT Specialist Mohammed Ouahabi Disrupts Algerian Healthcare with Nafsia
17:50
-
Cameroon Commissions First Private Solar Mini-grid Under Energy Compact
14:35
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
Mobile phones have become essential tools for work, education, payments and staying connected across...
Ecobank Transnational Incorporated asked shareholders to vote on a $500 million Tier 2 Eurobond...
Africa produces what it doesn’t consume, and consumes what it doesn’t produce. That stark line captu...
Funding part of $250 million raise to boost investor confidence Fintech expands services, pr...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to the progress and fragility of vaccination campaigns...
A staple of West African cuisine, onions are among the sub-region’s most widely grown horticultural products and a key driver of intra-regional trade,...
Niger adopts draft decree to regulate firearm acquisition, possession, and use New framework introduces stricter controls, traceability requirements,...
Chad and Algeria sign agreement to study a 20,000 bpd refinery project Chad continues to import large volumes of refined products despite crude output...
CANAL+'s film arm backs a ZAR 300-million feature rooted in South Africa's anti-apartheid music movement. Production kicks off June 29 in Cape Town,...
Burkina Faso launches “SORA” university series filming in Ouagadougou 25-episode project explores student life challenges and...