Nigeria to Sell $63 Million of ‘Green Bonds’ in First Quarter
- Proceeds will fund solar power, transport, forestry projects
- Oil companies contribute $1 billion for oil spills cleanup
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Nigeria plans to raise 20 billion naira ($63 million) by March to help fund renewable energy projects, the first issuance of so-called green bonds in West Africa’s biggest economy.
“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 in an interview Friday in the capital, Abuja. The sale will also help fund an electric-vehicle commuter project in the city and tree-planting in the country’s arid north, she said.