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The Federal Government has commenced consultation with capital market stakeholders on the issuance of Green Bond.
According to the Minister of Environment, Amina Mohammed, the process is expected to contribute to Nigeria’s development.
Already, the Federal Ministry of Environment has held Stakeholders’ Consultation as part of measures to explore innovative sources of funding for its climate action plans.
Speaking at the event, Mr. Oscar Onyema, Chief Executive Officer of the Nigerian Stock Exchange (NSE) explained that there is significant market potential for Green Bonds in Nigeria.
He explained that as a developing market with population in excess of 180 Million people, with projected annual emissions of 900m tonnes requires significant capital to develop mitigation and adaptation interventions that will reduce it.
A statement explained that Nigeria like most countries around the world faces vast investment needs “for the transition to a sustainable, low-carbon and climate resilient economy”.
Mohammed explained that the Federal Government has made it clear that private sources of finance are needed including tapping into the international capital markets, as well as domestic capital.
According to a statement, stakeholders Consultation forum held in Abuja recently was attended by representatives of Federal Ministry of Finance, Federal Ministry of
Budget and National Planning, Ministry of Trade and Investment, Nigerian Stock Exchange (NSE), Debt Management Office (DMO), Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), National Assembly, Africa Finance Corporation, World Bank, among others.
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