Nigeria's debt office to issue 10.7 bln naira green bond

Nigeria flags off a roadshow in its capital Abuja on Thursday in preparatory for the issuance of its debut green bond worth 10.69 billion naira to partly fund the 2018 budget, the Debt Managment Office (DMO) has said.
In a statement by the debt office, the issuance of the Green Bond was the result of the endorsement of the Paris Agreement on Climate Change on September 21, 2016, by the Nigerian government.
The proceeds of the Green Bond, the DMO said will be used to finance projects in this year's budget that have been certified as green because of their positive effects on the environment.
The debt office disclosed that the projects to be financed with the proceeds of the Green Bond issuance include the renewable energy micro utilities and afforestation programmes of the government.
Nigeria would become one of the few countries in the world and the first African country to issue a Green Bond.
The government had in November issued Eurobonds worth $3bn. Out of the amount, $2.5bn was earmarked for financing deficits in the 2017 budget.
.