Stanley Opara and Ifeanyi OnubaNigeria is set to become the first country on the continent to issue a security that raises funds for environmental projects when it launches its green bond on December 18. Nigeria plans to use the bond to finance projects in its 2017 budget including renewable-energy micro-utilities and forestation programmes, the Debt Management Office said Wednesday. A road show for prospective investors is planned in the capital, Abuja, Thursday and in the commercial hub of Lagos on Friday. The pricing will reflect secondary market rates, DMO Director-General, Patience Oniha, said on Thursday at a press conference in Abuja. Nigeria, which derives more than 90 per cent of its export income from crude, will become the world’s fourth sovereign issuer of green bonds.

Source: Punch December 14, 2017 23:48 UTC