The Federal Government is set to raise the first Tranche of N20 billion in green bonds to fund projects across some key economy sectors like Energy, Agriculture, Transport (FCT) and Environment.
Acting President, Professor Yemi Osinbajo, in his opening remarks at the Green Bonds Capital Market & investors Conference held at the Nigeria Stock Exchange on Thursday, February 23, commended the launch of possibly Africa’s first sovereign green bond.
“The green bond which is a brand new addition to the market’s funding portfolio, will tap into a new category of local and international investors, is a crucial achievement for Nigeria’s determined battle against the consequence of climate change, a phenomenon that is a threat to lives, livelihoods and development today,” he said.
Highlighting projects to benefit from the bond was the Minister of Power, Works and Housing and Former Governor of Lagos State, Mr. Babtunde Raji Fashola.
He said a N213 million renewable energy micro utilities programme billed to provide 119 Kilowatts of power, 60 of which will be through Solar across three communities, will result in 287 tonne of reduced harmful emissions.
Another of such projects highlighted, is the Energising Education Programme billed to power 37 universities and 7 teaching hospitals and expected to positively impact a population of 100,000 as well as reduce emissions by 70,000 tonnes.
The Solar Unit Distribution Program estimated to cost N1.3 billion will distribute at least 20,000 units of solar panels across the nation. The units in aggregate will provide up to 1.2 MW’s of power creating 6,000 jobs and will reduce emissions by 35,000 per annum
The Bus rapid transport project is estimated to cost N4.4 billion and will introduce 100 buses to the rapid transit system in the Zubar-Suleja corridor in Abuja, will provided 350 new jobs and impact about 325,000 persons in the area and will also reduce 42,000 tonnes of emissions per annum
The Governments afforestation programme involves the planting of 1,800 Ha of economic trees in 26 states across the nation, is worth N2.8 billion and will result in 11,700 tonness in reduced emissions per annum.
