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
-
Cameroon Flags 700,000 Undeclared Phones Under New Customs System
21:05
-
Egypt Reviews $5 Billion Green Ammonia Project Backed by Renewable Energy
20:54
-
Germany Helps Cameroon Structure €32 Billion Infrastructure Project Pipeline
20:48
-
Togo, Kyrgyzstan sign strategic cooperation agreements in Bishkek
20:31
-
Ghana navigates trade friction as AI reshapes customs enforcement
20:30
-
West Africa’s Rice Market Grows Fast, but Structural Gaps Hold Back Its Full Potential
20:26
-
IFC Weighs €21 Million Loan to Back Gozem Expansion in West and Central Africa
19:37
-
UEMOA Debuts First Mortgage-Backed Bonds to Support Housing Finance
19:36
-
Cameroon, Germany push private investment, aim to drive deals at ProMote 2026
19:19
-
Simangele Mphahlele Scales eJoobi to Streamline South African Hiring
14:52
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
Project targets up to 1 million tons of output using solar and wind Initial investment estimated at $5 billion, with expansion potential Plan...
Ghana rolls out Publican AI at Tema Port, with early revenue rising from GH₵2.4bn to GH₵3.6bn after deployment System flags undervaluation and fraud...
Rice is deeply rooted in diets but demand now far outpaces local supply Production has increased across the region, yet value chains remain...
Government launches plans to improve data use and public services Strategy aims to support responsible use of artificial intelligence Move...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....