The Director-General of the Debt Management Office, Dr. Patience Oniha, announced the issuance of a ₦50 billion Sovereign Green Bond, emphasising that a significant portion of proceeds will target climate-smart agriculture projects to bolster food security and resilience.
She unveiled this at an investor briefing in Lagos on Monday, noting that the bond builds on past issuances in 2017 and 2019 that raised ₦25.69 billion.
Dr. Oniha explained that the five-year bond, with a minimum subscription of ₦10 million for institutional investors, will be listed on the FMDQ trading platform.
She highlighted that channeling funds into sustainable farming practices such as irrigation-driven cultivation, soil conservation, and clean-energy-powered agro-processing aligns with Nigeria’s Nationally Determined Contributions to reduce greenhouse gas emissions.
Speaking at the same event, Dr. Iniobong Abiola-Awe of the Federal Ministry of Environment underlined the urgent need for diversified climate finance, warning of severe weather shifts, diminished Harmattan, recurrent floods, and land degradation that threaten crop yields and rural livelihoods.
She positioned the bond as central within Nigeria’s broader policy framework, including the 2021–2030 Climate Change Policy, Energy Transition Plan, afforestation efforts, and clean energy expansion.
Dr. Oniha stressed that market-driven pricing will guide the bond’s terms, encouraging institutional investors to align their capital allocations with sustainability goals.
She noted that previous green bond allocations supported projects in education, transportation, and notably agriculture such as deploying renewable energy in agro-processing facilities to improve efficiency and reduce post-harvest losses.
The Ministry of Environment and the Ministry of Finance have collaborated to establish a robust policy environment for green bond offerings.
Their framework aims to attract both domestic and international investors committed to funding resilience-building initiatives, from drought-resistant seed programs to water-management infrastructure.
Dr. Abiola-Awe concluded that this ₦50 billion Green Bond will accelerate Nigeria’s transition to a greener economy, safeguard agricultural productivity against climate shocks, and serve the interests of current and future generations facing mounting environmental challenges.
