LAGOS (CONVERSEER) – The Federal Government is set to issue a ₦50 billion sovereign green bond to fund environmentally sustainable projects and strengthen its climate action commitments under the Paris Agreement.
Announced during a meeting with investors in Lagos, the Managing Director of the Debt Management Office (DMO), Ms Patience Oniha, said the upcoming Series III green bond — Nigeria’s third since 2017 — will finance projects aligned with the country’s Nationally Determined Contributions (NDCs) to cut greenhouse gas emissions.
The five-year bond, with a minimum investment threshold of ₦10 million, targets institutional investors and will be listed on the FMDQ platform.
Dr Iniobong Abiola-Awe, Director of Climate Change at the Federal Ministry of Environment, emphasised the urgency of addressing Nigeria’s climate crisis, citing rising temperatures, vanishing harmattan, floods, and desert encroachment as visible threats.
She described the bond as a vital component of Nigeria’s climate strategy, supporting initiatives outlined in the 2021–2030 Climate Plan, Energy Transition Plan, and reforestation efforts.
The country aims to reduce emissions by 20% unconditionally and by 47% with international support.
