Nigeria has taken another bold step in its climate journey with the launch of a ₦50 billion sovereign Green Bond its third since 2017. Announced by the Debt Management Office (DMO) on June 16, this latest issuance signals renewed commitment to funding environmentally sustainable projects across the country.
The Green Bond will channel resources into key sectors such as renewable energy, afforestation, sustainable agriculture, clean transportation, and water infrastructure. These projects are in line with Nigeria’s climate targets under the Paris Agreement and are designed to help build a low-carbon, climate-resilient economy. The bond follows international best practices, ensuring transparency in how funds are allocated and used.
This is not Nigeria’s first foray into green finance. The country made history in 2017 as the first in Africa to issue a sovereign Green Bond, raising ₦10.69 billion. A second round in 2019 brought in ₦15 billion and was oversubscribed by more than 220%, highlighting growing investor confidence in the country’s sustainability agenda.
The ₦50 billion bond builds on the successes of those earlier efforts. Proceeds from past issuances helped fund clean energy projects like solar-powered tricycles, off-grid energy systems for rural communities, and the 10 MW Katsina wind farm. Environmental benefits also included large-scale tree planting and climate-smart agriculture initiatives.
The scale and ambition of this third bond reflect Nigeria’s understanding that climate change is not a distant threat it’s a current reality. By investing in green infrastructure now, the country aims to reduce emissions, create green jobs, and protect its environment for future generations.
As the world shifts toward sustainable development, Nigeria’s latest Green Bond is a strong signal to investors, policymakers, and citizens alike: the time to act is now. Green finance is not just about money it’s about building a future that works for both people and the planet.
