Sunday, September 28, 2025
26 C
Lagos

Nigeria to Sell N20bn of Green Bonds in 1st Half of 2017

Nigeria plans to sell N20 billion ($63 million) of green bonds in the first half of 2017 to finance renewable energy projects, Bloomberg reported on December 9, citing official sources.

“We are on track to sell the bond in the first quarter, a sovereign, and could have another by the end of the year,”Environment Minister Amina Mohammed said. “The sale will also help fund an electric-vehicle commuter project in the city and tree-planting in the country’s arid north,” she added.

Nigeria, Africa’s most populous nation, needs more than six trillion naira, the equivalent of its annual budget, to overcome its infrastructure deficit, according to data from the Budget and National Planning Ministry.

The government directed a third of the 2016 State budget to infrastructure projects in order to plug this deficit and revive its economy which should contract by 1.7% this year.

spot_img
spot_img

Hot this week

AIICO Deepens Bond with Retirees, Holds Annuity Forum in Lagos, PH

Mr. Gbenga Ilori, Head, Retail Business at AIICO, in...

Sovereign Trust Insurance Holds 30th AGM

L-R: Eric Balogun, Independent Director, Emi Faloughi, Director, Kayode Adigun,...

Unity Bank Shareholders Approve Merger with Providus Bank

  EGM: From left: Mr. Usman Abdulkadir, Executive Director, Risk...

NNPCL: Ogoni Re-entry is a Beacon of Reconciliation through Collaboration

The re-entry into Ogoniland marks a historic turning point...

NLNG, NCDMB Celebrate 122 Graduates of Train 7 HCD Training Program

NLNG in collaboration with the Nigerian Content Development and...

Topics

Non-profit Employees Lack Confidence in Retirement Planning

According to a study released by the TIAA-CREF Institute...

LASAA Addresses Community Concerns over Billboard Safety at Abati Barrack

The Lagos State Signage and Advertisement Agency (LASAA) is...

ILAN EXCO Pays Courtesy Visit to Sovereign Trust Insurance

L-R: Lekan Oguntunde, DGM/Head, Digital & Information Technology, Sovereign...

Sovereign Trust Insurance Reports N11bn Gross Premium, Holds AGM Oct 22

Mr. Olaotan Soyinka Managing Director/CEO Sovereign Trust Insurance Plc Sovereign Trust Insurance...

Saraki’s Albatross: The Need to Sheath Animosity

When the 2015 general elections were approaching, the ruling All Progressive Congress (APC) preached and campaigned transformation and transition from the status quo that the former ruling People’s Democratic Party (PDP) used in administering the affairs of the nation for nearly two decades. The APC clamoured for substitution of the then state of affairs. They adduced reasons why it was good for Nigeria to make the 2015 election and its aftermath different in some particular ways, without permanently losing former characteristics or essence of nationhood to replace what they described as slow pace of development which is change.

Emirates, Air Canada Form First-Ever Strategic Partnership

Emirates and Air Canada today announced the signing of...

NSIA Group Acquires 4 Insurance Subsidiaries of SANLAM Group

Mr. Moruf Apampa Managing Director/CEO NSIA Insurance Limited NSIA Group to which...
spot_img

Related Articles

Popular Categories

spot_imgspot_img