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DMO begins roadshow for N10.96bn green bond

The Debt Management Office (DMO) started a sensitization roadshow in Abuja yesterday as part of preparations towards the issuance of the first N10.96 billion Sovereign Green Bond.

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The bond will be issued from Monday, December 18, 2017,

It is being issued following Nigeria’s endorsement of the Paris Agreement on Climate Change on September 21, 2016.

The Paris agreement aims to strengthen the global response to the threat of climate change.

Speaking at the event held at the Sheraton Hotels Abuja, Director General of the Debt Management Office, Patience Oniha, said the roadshow, which will continue in Lagos today was to sensitise prospective investors in the Green Bond.

She said the essence of the roadshow is to ensure that people or organisations who will invest in the Green Bond have some understanding of what the project is about.

Oniha noted that the government will use the Green Bond proceeds to finance projects in the 2017 Appropriation Act that have been certified as green because of their positive effects on the environment.

She said amongst the projects to be financed with the proceeds of the Green Bond Issuance are the Renewable Energy Micro Utilities and Afforestation Programmes.

A representative of the Department of Climate Change, Federal Ministry of Finance, Hajiya Halima Abubakar, said the bond project has five priority areas that include agriculture forestry and land use, industry, oil and gas as well as power and transportation.

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