Nigeria is set to bolster its climate change strategy with the rollout of a ₦50 billion Sovereign Green Bond, marking a renewed national effort to finance environmentally sustainable initiatives.
This announcement was made by Dr. Patience Oniha, Director-General of the Debt Management Office (DMO), during an investor briefing on the Series III Green Bond issuance held in Lagos on Monday.
The upcoming bond is a continuation of Nigeria’s green finance agenda that began with successful issuances in 2017 and 2019, which together raised ₦25.69 billion. The new five-year bond, targeted at institutional investors, has a minimum investment threshold of ₦10 million and will be listed on the FMDQ trading platform.
“This isn’t just another capital raise. It’s a reflection of our long-term sustainability commitment in line with our Paris Agreement obligations,” Oniha stated. She emphasized that the proceeds will be channelled into projects aligned with Nigeria’s Nationally Determined Contributions (NDCs), particularly in reducing greenhouse gas emissions.
She added that market expectations would guide pricing, while institutional investors are encouraged to engage deeply with the offer as part of their own sustainability investment goals.
Speaking at the same event, Dr. Iniobong Abiola-Awe, Director at the Department of Climate Change in the Federal Ministry of Environment, underscored the urgent need for climate funding. “We are already witnessing the impact of climate change—severe weather shifts, vanishing Harmattan, floods, and land degradation. Nigeria is losing landmass, and we must act decisively,” she warned.
Dr. Abiola-Awe positioned the bond issuance as part of a broader climate policy ecosystem that includes the 2021–2030 Climate Change Policy, Nigeria’s Energy Transition Plan, afforestation programs, and clean energy expansion.
Previous green bond allocations have supported projects across education, agriculture, and transportation. For instance, one initiative focused on powering Nigerian universities with clean energy, which improved internet access and academic performance.
The Ministry of Environment and the Ministry of Finance have jointly created the policy framework to facilitate green bond issuance, aiming to attract both domestic and international investors committed to environmental financing.
“The proceeds from this third bond issuance will further support Nigeria’s pathway to climate resilience and sustainable development. We owe this not just to ourselves, but to future generations,” Dr. Abiola-Awe concluded.
