ESG & Investing
Nigeria Plans $352 Million Green Bond Sales for Climate Projects
The Oban Biosphere Reserve, in Calabar, Cross River, Nigeria.
Photographer: Kola Sulaimon/AFP/Getty Images
Nigeria plans to raise as much as 500 billion naira ($352 million) through green bonds this year, tapping strong investor appetite as Africa’s biggest oil producer turns to climate-linked debt to fund environmental projects and diversify its financing base.
Proceeds from the sale will finance projects to improve air quality, expand access to clean cooking fuels and combat deforestation, Environment Minister Balarabe Abbas Lawal said Tuesday at Abu Dhabi Sustainability Week.