Everest Amaefule, Abuja
The Debt Management Office on Wednesday said it was set to issue Green Bonds worth N10.69bn to finance some aspects of the 2017 budget.
According to the DMO, the Green Bond is being issued following Nigeria’s endorsement of the Paris Agreement on Climate Change on September 21, 2016.
The agreement aims to strengthen the global response to the threat of climate change. Since its signing, various countries who are parties to the agreement have initiated several steps aimed at making the environment better.
The Green Bond proceeds will be used to finance projects in the 2017 Appropriation Act that have been certified as green because of their positive effects on the environment, the DMO said in a statement made available to our correspondent in Abuja on Wednesday.
Among the projects to be financed with the proceeds of the Green Bond issuance are renewable energy micro utilities and afforestation programmes of the government.
As part of the preparation for the bond, which is to be issued in collaboration with the Ministry of Environment, the DMO will hold a roadshow in Abuja today (Thursday) to sensitise prospective investors to what to expect from the bond.
Another roadshow with the same objective will hold in Lagos on Friday.
Chapel Hill Denham has been appointed as financial advisers to the transaction.
The DMO said with the issuance, Nigeria would become one of the few countries in the world and the first African country to issue a Green Bond.
The Federal Government had in November issued Eurobonds worth $3bn. Out of the amount, $2.5bn was earmarked for financing deficits in the 2017 budget.
Should the National Assembly fail to pass the 2018 budget proposal early enough for implementation in January, the 2017 budget is expected to last till May 2018 since it was passed into law in May 2017.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Contact: [email protected]
About Article Author
Latest Nigeria News
- Woman Miraculously Escapes Death After Speeding Car Rammed Into Her Shop In Asaba (Photos)
- Oshiomhole Is Corrupt? Protesters Storm ICPC, Demand Probe
- Monkey Snatches Newborn Baby Boy From Mother, Kills Him
- Buhari Must Go With Hardship, We'll Fix The Economy – Atiku
- Married Woman Dies Due To 'Wrong Injection', Family Battles Lagos Hospital
- PDP A Damaged Product, says APC
- Governors to Labour: If You Insist On N30k We'll Sack Workers
- Offa Robbery Update: "You Have Case To Answer"
- Atiku, Peter Obi, Others Meet Igbo Leaders In Enugu (Photos)
- Things Choking Nigeria Economy Revealed
- Woman Duped By Boyfriend Of N4.8million In Lagos
- PRAYER FOR TODAY
- Isaac Success rated best Nigerian player in Europe
- Adetunji returns to Abia Warriors
- Fresh cholera outbreak claims 175 IDPs in Northeast
- 2019: Buhari, APC plot to liquidate bank accounts of oppositions – PDP
- Aisha Buhari commends Governors’ Wives on commitment to women’s health
- Bribery allegation; Saraki tackles Oshiomhole
- Fresh crisis hits MOSOP
- MTN seeks operational license to establish bank in Nigeria
- El-Rufai begins Islamisation in Kaduna
- Atiku arrives Enugu for meeting with PDP leaders
- Exposed! Heritage Bank in multi-billion Naira fraud
- Apapa’s port, others under siege
- Two police officers to die for murder
- "I Saw Myself N*ked & Tied" - Lady Celebrates After Escaping From Ritualists In Delta
- Excited Man All Smiles After Undergoing Facial Surgery To Remove Huge Growth
- Beautiful Nurse & Engineer Fiance Share Pre-wedding Pics
- University professors earn more than me as a governor – Fayemi
- Lagos govt. now permits hijab in public schools
- Super Eagles will bring down Bafana —Okowa
- NPFL: Super 8 to hold in Asaba
- IMF projects 4.4% in 2019 on infrastructure projects
- Mikel Obi breaks silence on retirement from Super Eagles
- NIMC boss seeks to unlock Nigeria’s digital market opportunities
- NWFL appoints Icheen Women’s Pro-League Coordinator
- Federal Govt. to auction N115 billion bonds
- Cannibal walks into police station holding human leg
- Girls' Schools Fight Violently, Over 40 Injured
- Woman's Throat Slashed By Husband's Son (Graphic Pic)