Green Bond Offer Closes With N91.42bn Total Subscriptions

The federal government of Nigeria’s securities have shown position interest from investors as the recent Sovereign Green Bond Offer of the federal government recorded a high level of subscription of N91.42 billion, according to an official statement from the nation’s debt office.

The offer, which closed on Wednesday, June 18, 2025, was for N50 billion, representing the third Green Bond Issuance by the Debt Management Office (DMO) on behalf of the government.

In a statement that was issued on Thursday, the debt office described the high interest in the government bond as a further demonstration of investors’ confidence in the project-tied securities.

The issuance attracted strong investor interest, with total subscriptions reaching N91.42 billion, representing a subscription rate of 183 per cent. “This impressive demand reflects investor confidence in Nigeria’s growing Green Bond Market and its commitment to sustainable finance and development, as well as climate action,” DMO stated.

Investors were allotted a total of N47.355 billion at a coupon of 18.95 percent per annum. The debt office said proceeds from the issuance will be used to finance projects in the 2024 Appropriation Act that support Nigeria’s Nationally Determined Contributions (NDCs) under the Paris Agreement and its broader climate commitments, including the target to achieve net-zero emissions by 2060.

“The strong investor interest in this Green Bond demonstrates growing confidence in  Nigeria’s commitment to sustainable financing,” said the Director-General of the DMO, Ms. Patience Oniha. “Green Bonds are becoming an increasingly important instrument for mobilising capital towards our climate objectives and sustainable development agenda.”

Oniha said the Green Bond is yet another contribution of the DMO towards the deepening of the domestic capital market and the DMO remains committed to this objective.

Chapel Hill Denham and Stanbic IBTC Capital Limited acted as financial advisers/book runners/issuing houses on the transaction.