Nigeria to fetch 150BN for climate funding

Nigeria will issue green bonds worth 150billion naira this year following increased calls for climate funding, a senior environment official revealed during a recently organised forum on making climate finance work.

The amount of green bonds used to finance projects which have a positive impact on the environment has been increased this year following what officials describe as the success of the of close to 11 billion bonds issued in 2017.

Three key projects have been targeted by the government, the energizing Education Project, the Rural Electrification Municipal and afforestation projects.

Accordding to Ahmad Salihijo, technical assistant at Nigeria’s ministry of environment, the issuing of green bonds in Nigeria have been successful after a rigorous process with the positive assessment of the International Climate bonds initiative.