Connect with us

News

Maiden N10.69bn Green Bond to be listed on NSE, FMDQ – DMO

Published

on

By Our Correspondent
The Debt Management Office (DMO) has said that Federal Government’s maiden N10.69 billion Green Bond, when concluded, would be listed on the Nigerian Stock Exchange (NSE).
Bonds are debt instruments issued by government or a company which represents a fixed sum of money that is borrowed while Green Bonds are debt instruments tied to environmental projects to address climate change.
The DMO Director-General, Ms Patience Oniha said at the Green Bond Investors Forum in Lagos for market participants and investing public that the issue would also be listed on FMDQ OTC Securities Exchange platform explaining that the listing would be in January at the completion of the first tranche of the bond, which would open for subscription on Dec. 18 by book building and close on Dec. 22.
Speaking further, Oniha said the Federal Ministry of Environment would introduce green bond to support the private sector which may also want to issue the product to support financial inclusion and that DMO was not only to borrow but also support the development of the market.
She added that the bond issuance benefits were huge, ranging from poverty alleviation, jobs creation, economic and environmental benefits.
The DMO boss said green bond could also be issued by corporate organisations , aside
government.
She expressed optimisim that government would raise over N10.67 billion from the issue, noting that road shows were ongoing to sensitise investors.
She explained that the issuance of the Green Bond followed Federal Government’s endorsement of the Paris Agreement on Climate Change on Sept. 21, 2016.
Proceeds from the Green Bond, she said, would be used to finance projects in this
year’s budget that had been certified as green because of their positive effects on the environment.
Projects to be financed with the proceeds included renewable energy, micro utilities and afforestation programmes of government.
Hajiya Halima Bwari, the Deputy Director, Department of Climate Change, said
the bond became necessary to tackle climate change experienced in Nigeria and the world.
Bwari said that climate change could become a big issue if left unchecked because of its effect on the environment and social wellbeing.
She said that the country’s target was to reduce emission by 20 per cent by 2030.
Mr Muhammad Mamman-Daura of Chapel Hill Denham Advisory Ltd., said Nigeria’s N10.69 billion debut sovereign green bonds due for issuance on Dec. 18, would be priced in reference to Federal Government bonds of similar tenor.
Mamman-Daura said that the bond, the first in Nigeria and West Africa, second in emerging markets and fourth in the world, was a five-year tenored instrument being issued to raise funds for specific green projects across the country.
He said listing the bond on NSE and FMDQ would boost its liquidity and investor confidence.
He added that the proceeds would be used to provide green electricity to communities that had been in darkness, energise education and support government afforestation initiative.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Goodluck Jonathan’s Family Celebrates Son’s Graduation in UK

Published

on

By

Former President Goodluck Ebele Jonathan and former First Lady Patience Ibifaka Jonathan recently celebrated a significant family milestone as they attended the graduation ceremony of their son, Ariara Goodluck Jonathan, at Manchester Metropolitan University in the United Kingdom.

The proud parents joined family members and well-wishers to witness Ariara receive his degree, marking the successful completion of his academic programme. The occasion was filled with joy as the Jonathan family commemorated the achievement, highlighting the importance they place on education and personal development.

The graduation ceremony attracted warm congratulatory messages from friends, associates, and admirers, who wished the graduate continued success in his future endeavours.

Continue Reading

News

2027 BENUE GUBER: MORE TROUBLE FOR GOV ALIA

Published

on

By

The Following names joined the political family of Sen. Dr. George Akume today after leaving the sinking Alia ship .

Under the leadership of Barr. Emmanuel Jime .

The are ;
Chief Nelson Alapa
Douglas pepe SAN senatorial Aspirant zone A,
Engr Peter Ashiekaa
QS Clement Beetseh
Former commissioners
Joy Luga
Ann itodo
Barr martins Shaagee
Miss Dorcas
Prof Usar Joseh
Prof Cephas Tushima
Chief Patrick Idoko
Hon Patience Akor
Hon Fred Idoko
Hon Lawrence Ekpo Onoja Jnr
Hon Andrew Abah
Hon Agbo Innocent Ikwumonu
Hon Simon Omachoko
Hon David Egboja
Dr John Garba
Among together,

Continue Reading

News

ENGR. BELLO BABAYO BELLO FELICITATES VICE PRESIDENT KASHIM SHETTIMA ON RENOMINATION

Published

on

By

Engr. Bello Babayo Bello, FNSE, Executive Director (Networks) of the Niger Delta Power Holding Company (NDPHC), has extended his heartfelt congratulations to Vice President Senator Kashim Shettima, GCON, on his renomination as the Vice Presidential candidate for the 2027 general elections, alongside President Bola Ahmed Tinubu, GCFR.

In his message, Engr. Bello described the renomination as a beautiful affirmation of the Vice President’s enduring commitment to Nigeria’s unity, stability, and prosperity. He noted that Senator Shettima, himself a former Senator of the Federal Republic, has consistently embodied resilience, foresight, and a deep sense of responsibility, qualities that continue to inspire confidence across the nation.

“This renomination is a shining testament to your unwavering dedication to the Nigerian people,” Engr. Bello stated. “It reflects the trust of the party and the citizens in your ability to guide our country toward greater progress, peace, and prosperity. Your leadership has been a beacon of hope, and this endorsement is richly deserved.”

Engr. Bello further emphasized that Senator Shettima’s political journey has been marked by courage and service. From his tenure as Governor of Borno State to his current role as Vice President, he has consistently championed initiatives that address national challenges, foster economic growth, and promote inclusive development.

As a leader in the power sector, Engr. Bello highlighted the importance of visionary leadership in driving infrastructure and energy reforms. He expressed confidence that Senator Shettima’s continued role in government will further strengthen Nigeria’s capacity to deliver reliable power, expand opportunities, and improve the quality of life for millions of citizens.

He prayed that Almighty Allah grants the Vice President wisdom, strength, and good health to continue serving the nation with distinction. “May Allah bless your efforts, guide your decisions, and grant you success as you carry forward the responsibility of leadership,” he added.

The message concluded with a reaffirmation of goodwill and support: “Congratulations once again, Your Excellency. We look forward to your continued contributions to the peace, progress, and prosperity of Nigeria.”

Signed:Engr. Bello Babayo Bello, FNSEExecutive Director (Networks)Niger Delta Power Holding Company (NDPHC)

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.