In a fresh move to consolidate Nigeria’s climate financing architecture and deepen sustainable development, the federal government has announced the issuance of its third Sovereign Green Bond, targeting up to N50 billion in proceeds to fund key environmental and infrastructure projects across the country.
The Director-General of the Debt Management Office (DMO), Patience Oniha, disclosed this to investors and fund managers in Lagos, yesterday, saying the offer, which opened yesterday, would close on Wednesday, June 18, 2025.
The bond is expected to attract domestic and international investors aligned with the green economy agenda following the successful outings of the Series I and II Green Bonds in 2017 and 2019 respectively, both of which were oversubscribed and channelled into renewable energy, afforestation, agriculture, and clean transportation.
Co-arranged by Chapel Hill Denham Advisory Limited and Stanbic IBTC Capital Limited, the Series III issuance is structured as a fixed-rate note with a five-year tenor. It is backed by the full faith and credit of the Federal Government of Nigeria and qualifies as a liquid asset for financial institutions a classification that makes it especially attractive to banks and institutional investors. (Thisday)