FG Galvanise Support For Issuance Of Sovereign Green Bond

The Ministry of Environment, in partnership with the Debt Management Office (DMO), convened a high-profile meeting for Investors to galvanise support for the Federal Government’s third issuance of the Sovereign Green Bond valued at N50 billion.

The minister of Environment, Malam Balarabe Abbas, who was represented by the Green Bond Programme Coordinator, Mr. Olaitan Fajuyitan, at the Eko Hotel and Suites in Lagos, emphasised that the Green Bond Series III marks a pivotal milestone in accelerating Nigeria’s climate agenda.

The minister highlighted that the N50 billion bond will finance critical green projects to mitigate climate change, promote environmental sustainability, and foster inclusive economic growth.

He said the Green Bond Secretariat, which oversees the issuance process, is supported by the World Bank through the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project and by the UK’s Foreign, Commonwealth & Development Office (FCDO) through the Financial Sector Deepening Africa (FSD Africa).

Abbas committed that his Ministry is focused on ensuring that proceeds from the funds raised through the bond are directed toward projects that will deliver measurable environmental and social outcomes, adding that robust monitoring and reporting mechanisms are already in place.

He further reiterated that the Green Bond Series III would build on the success of the first two issuances, which he revealed were responsible for financing impactful projects such as solar-powered electrification in rural communities, reforestation initiatives, and clean water systems.

“This third issuance reflects Nigeria’s unwavering dedication to addressing climate challenges while delivering tangible socio-economic benefits to communities nationwide,” he stated.

In his remarks, the British Deputy High Commissioner in Lagos, Mr. Jonny Baxter, revealed that this third sovereign green bond issuance reflects Nigeria’s continued commitment to financing sustainable growth through capital markets.

He said the UK, through FSD Africa, is proud of its almost 10-year-long partnership with the Nigerian Government for green bonds. The partnership has strengthened market infrastructure, provided hands-on support to bring credible bonds to market, and mobilised finance for climate-aligned projects.

The forum brought together a diverse group of critical stakeholders, including representatives from the World Bank, the Office of the British High Commissioner to Nigeria, financial institutions, environmental experts, and private sector investors.

Discussions centred on the investment opportunities presented by the Green Bond, its alignment with global sustainability goals, and the transparent framework for project selection and fund utilisation.